Cement News tagged under: CRH
CRH to acquire Sree Jayajothi Cements, India12 August 2013, Published under Cement NewsCRH has announced that its 50:50 joint venture in India, My Home Industries Limited (MHIL) has reached an agreement to acquire 100 per cent of the shares of Sree Jayajothi Cements Limited (SJCL), a 3.2Mta cement company based in south India for INR14,000m (EUR175m). The investment will be financed from MHIL’s existing debt capacity and by equity inputs from the joint shareholders (EUR70m). CRH’s equity interest will amount to approximately EUR35m. With the addition of SJCL, MHIL b... |
CRH likely to acquire Shriram Group cement business - report25 July 2013, Published under Cement NewsIrish building materials major CRH is likely to acquire the cement arm of the Shriram Group, Sree Jayajothi Cements, three sources have told the Economic Times of India. The deal is likely to be announced “soon” according to one of the sources, adding that the “enterprise value of Sree JayaJothi Cements has been pegged at around INR1500 crore.” CRH is expected to pick up the stake through its Indian unit My Home Industries, a joint venture it has operated since 2008 with the My Home Group... |
CRH announces new group chief executive, Ireland18 July 2013, Published under Cement NewsCRH has announced that Albert Manifold will assume the role of group chief executive on 1 January 2014, following the retirement of the current chief executive, Myles Lee, after 32 years with the group. Commenting on the appointment, CRH Chairman Nicky Hartery said: “I am delighted to announce Albert’s appointment as the next chief executive of CRH plc. This follows a comprehensive selection process led by the Board’s Succession Committee. Albert will succeed Myles in the New Year, fac... |
Cementos Lemona starts exports to UK18 July 2013, Published under Cement NewsSpain’s Cementos Lemona has initiated exporting cement to the UK. The first shipment of 13,000t of cement will be delivered to Southern Cement, also owned by Lemona’s parent company, CRH. As part of an asset swap undertaken earlier this year, Cementos Portland Valderrivas (CPV) transferred its 99 per cent stake in Cementos Lemona SA to CRH. In addition to the Cementos Lemona assets, which has cement, ready-mix and aggregates operations in Bilbao, Spain, the deal included CPV’s Southern ... |
Dudman sells UK cement trading business04 July 2013, Published under Cement NewsThe privately-owned Dudman is withdrawing from cement trading and has sold its four English cement terminals, in Sussex, Suffolk, Yorkshire and Merseyside and its one terminal at Montrose in Scotland to CRH. This will take the number of Irish multinational's British marine terminals to seven, all of which will be supplied from either Ireland or from the Cementos Lemona works in Spain. Dudman is keeping its five ready-mixed concrete batching plants in Sussex and Hampshire as well as ... |
CRH: acquisition and investment update, Ireland02 July 2013, Published under Cement NewsIrish building materials major CRH plc announced it has undertaken 17 acquisition and investment initiatives during the first half of 2013. These transactions, together with the acquisition of Cementos Lemona in Spain (acquired as part of the Uniland asset swap announced in February) and net deferred consideration payments, bring development spend for the first half of 2013 to approximately €470m. Proceeds to date from divestments and disposals, including the Uniland swap, amount to approxim... |
CRH plc announces non-executive board member, Ireland28 June 2013, Published under Cement NewsThe Board of CRH plc announced the co-option to the Board, with effect from 1 July 2013, of Mr Donald A McGovern, Jr as a non-executive director. Mr McGovern (62), a United States citizen, is currently Vice Chairman, Global Assurance at PricewaterhouseCoopers (PwC), a position he has held since July 2008. Mr McGovern will retire from PwC on 30 June 2013, following a 39 year career with the firm, during which time he directed the US firm's services for a number of large public company clie... |
India: Jaypee Cement eyes acquisition24 June 2013, Published under Cement NewsJaypee Cement (JC), the country’s third-largest producer (Jaiprakash Associates/Japyee Group), is looking at an acquisition, having recently dumped its plan to sell off its Gujarat plant. “In the near future, the group plans to expand its cement capacities via acquisitions and greenfield additions to maximise economies of scale and build on vision to focus on large-size plants from inception,” said Ashutosh Kumar, JC’s joint president of marketing. Before that, though, JC would be conce... |
CRH sees US operations offsetting weaker European market08 May 2013, Published under Cement NewsIn trading statement released today, CRH said the first four months of 2013 were affected by adverse weather conditions but expects growth in the second half to be led by its US operations. Combined with a challenging economic environment, most of CRH’s European operations experienced lower activity and sales declined 12 per cent (approximately €0.3bn) in the first four months of the year compared to the same period of 2012. Wet and cold conditions also persisted in the US in the first ... |
Lafarge sells Ukraine cement plant to CRH26 April 2013, Published under Cement NewsLafarge is to sell its cement activities in Ukraine to CRH plc for an enterprise value of EUR96m. Lafarge, through its subsidiary Mykolaivtsement, operates a 1.3Mta integrated wet-process works at Mikolaiv in western Ukraine, near Lviv and has a domestic market share of around 12 per cent. The transaction, which is expected to close before year-end, is subject to relevant Ukrainian authorities' approval. Lafarge will remain present in Ukraine through three aggregates quarries serving ... |