Cement News tagged under: CRH
CRH to buy 51% in Jaypee's Gujarat units for INR21bn (US$378.9m)24 August 2012, Published under Cement NewsIrish 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 Ukraine15 August 2012, Published under Cement NewsCRH’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 unit08 August 2012, Published under Cement NewsCRH 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 - report06 August 2012, Published under Cement NewsCRH 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 NewsCRH 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 ... |
CRH eyes stake in Jaiprakash cement units, India19 July 2012, Published under Cement NewsCRH is said to be interested in buying a stake in Jaiprakash Associates cement plants in Gujarat and Andhra Pradesh, according to Indian press reports. Speaking to the Economic Times of India, a source familiar with the situation said: "The discussions between the two companies are in an advanced stage, but nothing has been finalised. Both sides are expected to meet in the last week of this month to give a final shape to the transaction. But it may go either way.” The AV Birla Group wa... |
CRH first-half development spend EUR0.25bn03 July 2012, Published under Cement NewsCRH plc has completed 18 acquisition and investment initiatives undertaken during the first-half of 2012. The 18 transactions, comprising five in Europe and 13 in the Americas, bring first-half development spend for the Group to approximately €0.25bn, the group said in a development strategy update today. The European deals amounted to an investment of EUR155m. These transactions include a significant addition in Germany to the company’s RMI-oriented Shutters & Awnings business and two ac... |
CRH06 June 2012, Published under Cement NewsCRH's underlying sales improved by about 2% during the first four months of the year, with North America benefiting from comparatively favourable weather conditions, while the opposite was a case in Europe, which suffered from a harsh winter, particularly in February. Thirteen acquisitions or major investments were undertaken in the period for a cost of about €230m, compared with €135m spent in the same period last year. Heavy building materials volumes were well ahead in Ukraine, an... |
Irish Cement workers reach settlement, Ireland21 May 2012, Published under Cement NewsWorkers at Irish Cement, a subsidiary of CRH, on Friday voted to accept proposals agreed between the company and worker representatives which provides a settlement to the dispute at plants in Castlemungret, Co. Limerick and Platin, Co. Meath. SIPTU Organiser, Karan O'Loughlin, said: "The workers have voted by a large majority to accept the proposals agreed between worker representatives and the company following a mediation process overseen by an independent chairman. "The implementati... |
CRH transfers Secil shares to Semapa, Portugal16 May 2012, Published under Cement NewsCRH has transferred its 49% shareholding in Secil, the Portuguese cement producer, to Semapa, its former joint venture partner, the Irish-based building materials company said in a statement. The transfer is pursuant to a call option exercised by Semapa and confirmed by an award issued by an Arbitral Tribunal in Paris, functioning under the Rules of Arbitration of the International Chamber of Commerce (ICC), at a valuation of €574m. The net proceeds received by CRH amount to €564.5m and re... |