Cement News tagged under: CRH

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CRH back on the acquisition trail

06 October 2017, Published under Cement News

Financial analysts have been predicting for some time that CRH was likely to hit the acquisition trail again to bolster its portfolio. The recent US focus to target Ash Grove Cement and Suwanee America Cement will reshape the North American cement landscape, subject to Ash Grove and Suwanee shareholder and regulatory approvals. Debt reduction The Irish company had been lowering its debt since the EUR7.8bn it shelled out on buying assets from former Lafarge and Holcim facilities in 201...

Ash Grove Cement receives US$3.8bn takeover proposal

06 October 2017, Published under Cement News

CRH noted that an announcement by Ash Grove yesterday that the period for obtaining shareholder approval has been extended for its proposed acqusition. US cement maker Ash Grove Cement Co said on Thursday it received a larger takeover proposal valued at up to US$3.8bn, surpassing an earlier offer from Irish building materials firm CRH Plc. CRH said last month it agreed to buy Ash Grove for a total consideration of US$3.5bn. Ash Grove said the new bid valued at US$3.7-US$3.8bn was expected t...

Ash Grove Cement Board to come under investigation

04 October 2017, Published under Cement News

WeissLaw LLP is investigating possible breaches of fiduciary duty and other violations of law by the Board of Directors of Ash Grove Cement Co in connection with the proposed acquisition of the Company by CRH, Plc.  On 20 September 2017, the Ash Grove Cement announced the signing of a definitive agreement under which terms CRH will acquire all outstanding shares of Ash Grove Cement in a transaction valued at approximately US$3.5bn. However, WeissLaw is investigating whether Ash Grove Cem...

CRH said to be closing in on Suwanee America acquisition

03 October 2017, Published under Cement News

CRH Plc is nearing an agreement to acquire Florida-based cement company Suwannee American Cement LLC from Votorantim Cimentos SA and Anderson Columbia Co, according to Bloomberg. The companies could announce an agreement this week, acording to the news seervice cources. The deal may value Suwannee at about US$750m. While talks are advanced, they could still be delayed or fall apart and the valuation could change. The planned acquisition follows a string of deals for CRH, which last month a...

CRH agrees US$3.5bn acquisition of Ash Grove Cement

21 September 2017, Published under Cement News

CRH plc has reached an agreement to buy US-based Ash Grove Cement Co for US$3.5bn. The proposed transaction is subject to Ash Grove shareholder and regulatory approvals and will be financed through existing financial resources. The transaction is expected to close around year end 2017. Albert Manifold, Chief Executive of CRH, commented: “Ash Grove is an excellent addition to CRH’s portfolio of businesses across North America as we seek to deploy our capital into high quality businesses tha...

McInnis Cement announces Atlantic distribution plan, CRH deal

08 September 2017, Published under Cement News

McInnis, the New Cement Co has announced its distribution plan for all of the Atlantic provinces. The cement producer has acquired two CRH Canada-owned distribution assets, enabling it to reach the markets in New Brunswick, Nova Scotia, as well as Prince Edward Island. McInnis will honour the orders of the clients supplied through those terminals and integrate their current employees.   In addition, McInnis has entered into an agreement with CRH Canada and will supply cement for this co...

West Bank case against CRH thrown out by Washington DC court

07 September 2017, Published under Cement News

A US$34bn US lawsuit launched last year by Palestinian activists against dozens of companies including Ireland's CRH, has been dismissed by a Washington DC court, the Irish Independent reports. The activists had tried to sue about 40 defendants for alleged "profiteering" related to the construction of Jewish settlements in the West Bank. The companies sued ranged from Hewlett-Packard, Volvo and Motorola, to security firm G4S. Last year, and prior to the lawsuit being launched, CRH sold its...

Spotlight on CRH

25 August 2017, Published under Cement News

CRH reported 'satisfactory growth' in the first half of this year, with stabilising trends seen in key European markets and EBITDA growth in the Americas more than offsetting reduced activity in Asia due to a challenging market environment in the Philippines. First-half trading highlights for the international building materials group include sales of EUR13bn, two per cent ahead of 2016 and one per cent ahead on a like-for-like basis. EBITDA of EUR1.175bn were up by five per cent YoY and t...

CRH plc establishes a euro commercial paper programme

31 July 2017, Published under Cement News

CRH plc has announced it has established a euro commercial paper (ECP) programme, under which its wholly-owned subsidiaries CRH Finance DAC and CRH France (UK) plc may issue from time to time unsecured short-term euro commercial paper notes through appointed dealers up to a maximum aggregate amount outstanding at any time of EUR1.5bn. The notes will be guaranteed by CRH plc and sold to investors outside the US. The programme adds flexibility to the company’s short-term funding options and...

A TEC installs alternative fuels system for CRH in Slovakia

27 July 2017, Published under Cement News

A TEC has installed an alternative fuel system for kiln riser duct firing at CRH's Turna Nad Bodvou cement plant in Slovakia. The cement plant already operated a solid alternative fuel (SAF) system for the main burner, which consists mainly of a double truck-docking station and a dosing system. The riser duct itself has a gas residence time of approximately three seconds, so a thermal substitution rate of up to 25 per cent at the riser duct is possible by limiting the material to a maxim...