Cement News tagged under: Divestments

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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...

Sri Lanka: LafargeHolcim to exit market

03 June 2016, Published under Cement News

LafargeHolcim is to sell its operations in Sri Lanka - a bagging plant, a grinding plant and the island's only integrated facility - as part of its wider divestment strategy, EconomyNext reports. At least three local firms are though to be interested in bidding for Holcim Lanka, which generated 1.7Mt of sales in 2015 with revenues of LKR23.4bn (US$158m).

India: LafargeHolcim sale temporarily halted by court

18 April 2016, Published under Cement News

The sale of 11Mta of LafargeHolciim assets in India has been put on hold by India's Competition Appellate Tribunal. According to Mint an appeal has been lodged by Dalmia Cement (Bharat) Ltd. against the Competition Commission of India’s decision ordering the divestment of Lafarge India. The tribunal's decision will delay the sale process by at least three weeks, until May 9. Last week saw the close of bidding for the assets - three integrated plants and two grinding plants with a combi...

Ten bidders chase LafargeHolcim Indian assets

14 April 2016, Published under Cement News

The sale of LafargeHolcim's Indian operations has attracted considerable interest, with the company having received bids from 10 groups interested in buying the assets. According to India's Economic Times, JSW Cement, Blackstone and Ramco Cements have all submitted bids, while the Irish Times notes that CRH, Piramal Group and Carlyle Group are also in the running. LafargeHolcim is selling three integrated plants and two grinding plants with a combined capacity of 11Mta, valued at aroun...