Cement News tagged under: CRH

RSS feed

Ireland: Judge steps aside over CRH share dealings

15 November 2012, Published under Cement News

A high court judge has stepped aside from a long-running dispute involving cement giant CRH, after a rival firm raised concerns about the judge's ownership of the company's shares. Mr Justice John Cooke, who returned to Ireland in 2008 after serving for 12 years as a judge in the European Court of First Instance, has been managing the bitter competition law case between Goode Concrete and CRH for two years. Mr Justice Cooke had already handed down three written rulings on preliminary issue...

Aditya Birla resumes talks with Jaypee over cement assets – report

17 October 2012, Published under Cement News

The Aditya Birla Group has restarted negotiations with Jaikprakash Associate’s to buy out its Jaypee Cement Corp plants in Gujarat and Andhra Pradesh, the Economic Times (ET) of India reports. Birla is understood to have made an offer of up to US$130/t to acquire cement assets with a total capacity of 9.8Mt, two sources close to the negotiations said. Talks between the two companies fell through in July this year due to differences over valuations, the ET noted. Last week, CRH said neg...

CRH announces termination of negotiations in India

10 October 2012, Published under Cement News

CRH plc announced that it has terminated negotiations with Indian cement producer Jaypee Cement Corporation (Jaypee) regarding the possible purchase by CRH of an equity stake in Jaypee’s Gujarat cement business. CRH said these negotiations were  terminated as the parties were unable to agree terms. The Irish-based building materials major said that it acknowledges the co-operation of the Jaypee management team throughout the negotiations and due diligence process. CRH confirmed back in A...

Irish Cement in restructuring efforts, to cut 55 jobs

04 September 2012, Published under Cement News

CRH subsidiary Irish Cement has announced 55 redundancies at its plant in Limerick as part of restructuring measures due to a considerable downturn in the domestic construction sector. The company said that the restructuring follows five years of decline in Irish construction activity which is now 80 per cent less than 2007 peak levels. “Unprecedented deterioration in market conditions, combined with a sustained decline in the demand for cement products, has led to the need for a sign...

Clal Industries to expand power plant capacity

30 August 2012, Published under Cement News

Clal Industries and Investments, controlled by Len Blavatnik, subsidiary Mashav Initiation and Development Ltd, is to expand capacity at its private power station which provides electricity to Nesher Cement Enterprises of Israel. With an investment of US$90m, capacity at the station is to be increased initially by 50MW and thereafter by 70MW. Mashav is 75 per cent owned by Clal Industries and 25 per cent owned by CRH. In 2010, Mashav’s 50W natural gas-driven power station secured a 20-yea...

CRH to buy 51% in Jaypee's Gujarat units for INR21bn (US$378.9m)

24 August 2012, Published under Cement News

Irish building materials group CRH is set to pick up a controlling 51 per cent stake in the cement operations of Jaiprakash Associates in Gujarat for an enterprise value of INR42bn. CRH will also be able to increase its holding to 65 per cent over the next three years at a pre-fixed price via a call option. “CRH will have the option of picking up an additional 14 per cent from Jaiprakash Associates at the current price plus a 16 per cent annualised return or at a fair price determined ...

CRH advances strongly in the Ukraine

15 August 2012, Published under Cement News

CRH’s first half turnover improved by 5.2 per cent to €8,588m, but the EBITDA came off by 1.1 per cent to €568m. The better weather conditions in North America were offset by a worse experience in Europe. The trading profit was stable at €184m, while the pre-tax profit improved by 23.2 per cent to €117m, helped by gains on disposal, and the net attributable profit advanced by 36.8 per cent to €104m. Net debt at the end of June was 0.7 per cent lower at €3915m, to give gearing of 37.5 per ce...

CRH confirms Jaiprakash talks for Gujarat unit

08 August 2012, Published under Cement News

CRH plc announces that it has entered negotiations with Jaypee Cement Corporation (Jaypee) that may lead to the purchase by CRH of an equity stake in Jaypee’s Gujarat cement business.   The Gujarat operation under consideration consists of a 3.6Mt clinker plant at Kutch, in western Gujarat, with 2.4Mt of cement grinding capacity and a further grinding plant in eastern Gujarat with capacity to produce 2.4Mta. The completion of any transaction would be subject to satisfactory due diligen...

CRH closing in on Jaiprakash cement stake - report

06 August 2012, Published under Cement News

CRH is reported close to picking up 51 per cent stake in Jaiprakash Associates' cement operations in Gujarat at an enterprise value of about INR4200 crore, the Economic Times of India has cited two persons familiar with the development as saying. The enterprise value of Jaypee Cement Corp, which has two cement plants in Sewagram and Wanakbori-each having a capacity of 2.4Mt, includes debt of about INR1800 crore. The deal will help Jaiprakash Associates pare its debt by about INR1800 crore...

India: mergers and acquisitions ahead?

23 July 2012, Published under Cement News

CRH has reportedly emerged as the latest company to enter the foray for a stake in Jaiprakash Associates' cement units in the Indian states of Gujarat and Andhra Pradesh, which could pave the way for the Irish building materials major to increase its presence in a country teeming with long-term potential. Elsewhere, the recent ruling by India's antitrust body on local cement producers could aid increased consolidation in the fragmented Indian cement sector.   Earlier last month, Jaiprakash ...