Cement News tagged under: Divestments

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HeidelbergCement targets cash generation

01 February 2019, Published under Cement News

This week the trend for divestments from the large multinationals was again demonstrated by LafargeHolcim's admission that it may seek a buyer for its operations in the Philippines , but it is not alone in trying to seek markets with higher returns. The selling hat is also being worn by HeidelbergCement, which held its Commerzbank German Investment Seminar 2019 in New York on 14 January. Dr Bernd Scheifele, Group CEO, gave a presentation update on the performance of the group in 2018 with s...

LafargeHolcim could seek up to US$2.5bn for its Philippines business

28 January 2019, Published under Cement News

Shares of Holcim Philippines have been rising steeply as LafargeHolcim is believed to be considering the sale of its Philippines business unit to further reduce group debt. LafargeHolcim is undergoing a strategic review of its southeast Asian operations following the sale of its Indonesian business. The company could seek a value of US$2.5bn for the assets it holds in the Philippines, according to Bloomberg. LafargeHolcim's CEO, Jan Jenisch, said in May that the company’s southeast Asia bu...

Raysut shareholders agree to sell Oman Portuguese Cement Products

03 August 2017, Published under Cement News

Raysut Cement shareholders have approved a proposal to sell Oman Portuguese Cement Products Co to Opal Development. The decision was taken at an extraordinary general meeting of the company held on 25 July 2017, Raysut Cement said in a disclosure statement posted on the Muscat Securities Market website. Meanwhile, earlier this month, Raysut Cement had announced that its net profit for the first six months of 2017 fell 64.2 per cent to OMR4.62m (US$12m) from OMR12.91m for the same pe...

FTC approves divestment of Martinsburg plant and related assets

19 July 2017, Published under Cement News

Following a public comment period, the US' Federal Trade Commission (FTC) has approved an application from HeidelbergCement AG and Italcementi SpA to sell the Essroc cement plant in Martinsburg (WV), eight cement terminals in the mid-Atlantic and related assets to Argos USA LLC, a subsidiary of Cementos Argos SA. The divestiture is required by the FTC's August 2016 final order settling charges that the merger of Heidelberg and Italcementi would likely harm competition in five regional mar...

Shanshui Cement shareholder plans to sell shares

01 June 2017, Published under Cement News

Shanshui Cement announced that it received a letter from China Shanshui Investment Co Ltd, which holds a 25.09 per cent of shares, stating that it has invited Asia Cement, CNBM and Tianrui (International) to make an offer to acquire all its shareholdings in the company at US$5.50/share. If any of them makes the offer, it is expected that such party will be subject to the requirements under the Hong Kong Code on Takeovers and Mergers. Further announcement will be made by the company as and ...

Qalaa Holdings completes sale of ASEC Ciment Algérie

17 May 2017, Published under Cement News

Qalaa Holdings announced that its subsidiaries ASEC Cement and ASEC Cement Djelfa Offshore have completed the sale of 100 per cent of ASEC Ciment Algérie (ACA) to an Algerian investor at a deal value equivalent to US$60m. The sellers are currently complying with government requirements to repatriate the proceeds from Algeria. 
Qalaa held an effective (indirect) 37 per cent ownership stake in ACA , which has a licence to build a 3Mta cement plant in the city of Djelfa, Algeria. The sale ...

Graymont completes sale of New York Materials business to Upstone

16 May 2017, Published under Cement News

Graymont, supplier of lime and limestone products, has completed the transaction to sell its New York Materials business to Upstone Materials Inc. The New York Materials business is focussed on providing construction stone, sand and gravel, asphalt products and ready-mix concrete to meet infrastructure and general construction needs in the region Graymont serves major markets throughout the United States and Canada, and has extended its reach into the Asia-Pacific region. Graymont also ...

India: Government to sell non-operational CCI units

17 March 2017, Published under Cement News

The government of India has announced that it plans to sell off five non-operational units of the Cement Corporation of India (CCI) as the first step towards complete divestment of the company, the Times of India reports. "As far as CCI is concerned, non-operating units of CCI are to be disinvested first as a part of strategic disinvestment of CCI," Minister of State for Heavy Industries and Public Enterprises, Babul Supriyo, said. The initial sell-off will involve facilities at Mandha...

Kuwait Cement to sell stake in Kuwait Food Company

08 February 2017, Published under Cement News

According to reports in ArabianBusiness.com, Kuwait Cement will sell its stake in Kuwait Food Company (Americana) to Gulf-based investment group Adeptio. The US$4.42m deal follows Adeptio’s purchase of a majority stake in Americana, which it acquired in October for US$2.35bn.

China: LafargeHolcim to sell stake in Shuangma Cement

02 August 2016, Published under Cement News

LafargeHolcim has announced that it has signed a deal with Tianjin Circle Enterprise Management Centre that would see the Franco-Swiss multinational sell a 55.93 per cent stake in Sichuan Shuangma Cement for CHF507m (US$525m). Subject to shareholder approval, the acquisition is expected to be completed by 4Q16. Following the sale, Lafarge will retain a stake of around 20 per cent in Shuangma. The agreement reached with Tianjin Circle leaves open the possibility – until 2018 – of either pa...