Cement News tagged under: CRH
CMA welcomes recent sale of UK plants07 August 2015, Published under Cement NewsThe UK’s Competition and Markets Authority (CMA) has welcomed the sale of plants by Lafarge Tarmac and Hanson. In the Competition Commission’s (CC) market investigation report published in January 2014, the CC had ordered Lafarge Tarmac to sell one of two cement plants and Hanson to sell one of its ground granulated blast furnace slag (GGBS) plants to enhance competition in the cement and GGBS markets in Great Britain. Lafarge Tarmac and Hope Construction Materials Ltd (Hope) both appealed... |
CRH completes Lafarge-Holcim transaction03 August 2015, Published under Cement NewsCRH announced that the transaction to acquire certain assets from Lafarge SA and Holcim Ltd for a total enterprise value of EUR6.5bn is now complete, with the exception of the Philippines which is expected to close in the third quarter of this year. The deal was initially announced in on 2 February 2015, with a binding agreement sealed between the companies towards the end of May. Commenting on the completion of the acquisitions, Albert Manifold, CRH chief executive, said: “Today we extend... |
Aboitiz Equity to invest in Philippine venture22 July 2015, Published under Cement NewsAboitiz Equity Ventures Inc said it will invest PHP24bn (US$531m) in the cement business after formalising a deal with Irish cement maker CRH Plc to buy the Philippine assets of Lafarge SA, Reuters reports. In May, Aboitiz said it was looking to partner with CRH to buy Lafarge's assets in the Philippines as the local power-to-banking conglomerate sought to diversify into infrastructure. The Philippine units form part of a package of assets that CRH is acquiring from Lafarge and Holcim ... |
Holcim France to be renamed Orsima under CRH17 July 2015, Published under Cement NewsAs of 1 August 2015, the former French subsidiary of Holcim, now owned by CRH, will be renamed Orsima. With the acquisition of Holcim France, resulting from the merger between Holcim and Lafarge, CRH will have a market share of around 15 per cent in the country. The Ireland-based company now owns the three integrated cement works of Lumbers, Heming and Rochefort-sur-Nenon, the four grinding centres of Grand-Couronne, Dannes, Dunkirk and La Rochelle as well as the Montoir-de-Bretagne ble... |
CRH facing €32m Swiss fine06 July 2015, Published under Cement NewsCRH is facing a €32m a fine from the Swiss Competition Commission (Comco) following an investigation into the bathroom fixtures and fittings industry. In a statement released on Friday CRH confirmed that Comco is imposing a CHF80m fine on the Association of Swiss Wholesalers of the Sanitary Industry, including a fine of approximately CHF34m (€32m) on CRH plc. The basis of the competition watchdog’s findings is expected to be available in four months, at which time CRH has the option to ... |
CRH reportedly to take part in preliminary bidding for South Korean producer11 June 2015, Published under Cement NewsCRH announced it will take part in the preliminary bidding for Tongyang Cement scheduled on the 12 June after selecting Goldman Sachs as an underwriter, according to local press reports citing investment bank sources. Tongyang Cement was put on the market in early April after its parent group was liquidated. The 74.1-per cent stake held by Tongyang Corp. and Tongyang International is estimated at KWR400-600bn (US$360-540m) Tongyang Cement is ranked second on the domestic the cement market... |
Holcim and Lafarge seal binding deal with CRH27 May 2015, Published under Cement NewsLafarge and Holcim have now entered a binding agreement with CRH regarding the sale of several assets with an enterprise value of EUR6.5bn. As announced in February 2015, the assets include operations mainly in Europe, Canada, Brazil and the Philippines (see below). The acquisition remains conditional upon successful completion of the merger of Lafarge and Holcim as well as the completion of local asset reorganisations. The acquisition is expected to complete in the second half of 2015. ... |
CRH confirms watchdog search at Platin works18 May 2015, Published under Cement NewsCRH has confirmed its Platin works in Ireland, owned by its subsidiary Irish Cement, has been searched by the Competition and Consumer Protection Commission. “Irish Cement fully facilitated the inspection and is continuing to co-operate with the Competition and Consumer Protection Commission. Inspections regarding competition policies, procedures and practices are an accepted part of the business environment around the world. “Irish Cement operates to the highest business standards across ... |
Aboitiz plans to buy Lafarge Philippines assets15 May 2015, Published under Cement NewsPhilippine conglomerate Aboitiz Equity Ventures Inc said on Friday it had signed an agreement for a possible acquisition of Lafarge's local cement operations in partnership with CRH Plc. CRH had earlier agreed to buy for EUR6.5bn cement assets from Lafarge and Holcim Ltd., whose asset divestments are part of preconditions to winning regulatory approval for their merger. Both Lafarge and Holcim have cement assets in the Philippines. Aboitiz, which has investments in power generation and ban... |
CRH: good advance in North America06 May 2015, Published under Cement NewsCRH's underlying sales in the first four months declined by around two per cent in Europe and increased by about eight per cent in the Americas during the first four months of the year. Some EUR45m was spent on acquisitions and investment during the first four months, while EUR540m was raised from divestments during the period. The group EBITDA in the first half expected to be around 10 per cent ahead of last year. Europe Heavy building materials volumes in Ireland continued to recover a... |