Cement News tagged under: Divestments

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Cemex announces divestment of operations in Austria, Hungary and Croatia

12 August 2015, Published under Cement News

Cemex announced today that it has signed an agreement for the sale of its operations in Austria and Hungary to the Rohrdorfer Group for approximately EUR160.1m. The Austrian operations consist of 24 aggregate quarries (approximately 6.47Mt of aggregates sold in 2014) and 34 ready-mix plants (approximately 1.60Mm 3 of ready-mix sold in 2014). Cemex’s operations in Austria had net sales of approximately US$241m in 2014. The Hungarian operations being divested consist of five aggregate qua...

Conch reduces shareholding in two producers

08 July 2015, Published under Cement News

Anhui Conch Cement has sold its shares in Xinjiang Qingsong Building Materials and Chemicals Group and Tangshan Jidong Cement Co in the April-June 2015 period, according to Reuters. The disposals amounted to a net profit of US$217m, the report added.

Qalaa Holdings to focus on core subsidiaries, including cement

26 June 2015, Published under Cement News

Qalaa Holdings has signed a set of agreements with Financial Holdings International (FHI), one of Qalaa’s major co-investors, through which Qalaa will acquire from FHI additional stakes in subsidiaries that are core to Qalaa’s future as a holding company. These include stakes in companies involved in the energy, cement and transportation sectors, among others. Simultaneously, Qalaa will  sell to FHI its holdings in the following non-core business units: MENA Homes, Grandview and Dina ...

Holcim and Lafarge seal binding deal with CRH

27 May 2015, Published under Cement News

Lafarge and Holcim have now entered a binding agreement with CRH regarding the sale of several assets with an enterprise value of EUR6.5bn. As announced in February 2015, the assets include operations mainly in Europe, Canada, Brazil and the Philippines (see below). The acquisition remains conditional upon successful completion of the merger of Lafarge and Holcim as well as the completion of local asset reorganisations. The acquisition is expected to complete in the second half of 2015. ...

Holcim sees continued growth in the USA

30 April 2015, Published under Cement News

Holcim's first quarter turnover declined by 2.8 per cent to CHF3972m (€3699m), but on a like-for-like basis, there was a 1.6 per cent reduction while measured in euros the turnover was ahead by 10.7 per cent.  Operating EBITDA declined by 3.9 per cent to CHF593m (€552m). The trading profit was down by 11.5 per cent to CHF261m (€243m), while the net attributable profit jumped by 289.3 per cent to CHF310m (€289m). Net debt at the end of March was 0.3 per cent higher at CHF9670m (€7862m) to g...

Holcim and Lafarge propose final US asset disposals

17 April 2015, Published under Cement News

Lafarge and Holcim announce further details on the package of assets they propose to divest in the United States, as part of their planned merger to create LafargeHolcim. The divestments include: • Lafarge's 1.1Mta Davenport cement plant (Iowa) and seven terminals along the Mississippi River to be sold to Summit Materials for a total consideration of US$450m in cash plus Summit’s Bettendorf, Iowa cement terminal • three Holcim terminals in Michigan and Illinois • Holcim's 0.6Mta Skyway...

Thailand: Holcim sells stake in Siam City Cement

30 March 2015, Published under Cement News

Holcim Ltd today announces that it has sold its entire remaining shareholding of 27.5 per cent in Siam City Cement (Public) Company Ltd (SCCC) in Thailand via a private placement in capital markets. For the sale of its entire remaining stake, Holcim will receive a total consideration of approximately CHF655m (US$626m), which will result in a gain before taxes of approximately CHF365m (US$349m). Of the 27.5 per cent, 24.9 percent were acquired by a member of the Jardine Matheson Group, a Ho...

Holcim launches upto US$741.4m selldown in Siam City shares

27 March 2015, Published under Cement News

Holcim Ltd on Thursday launched an up to US$741.4m selldown of shares in Thailand's second-largest cement company Siam City Cement PCL (SCCC), IFR reported, citing a term sheet of the deal. Holcim is selling 63.29 million SCCC shares through its Thai Roc-Cem Ltd unit at an indicative range of between THB350 and THB381, putting the total deal at up to THB24.11bn (US$741m), added IFR, a Thomson Reuters publication. SCCC, controlled by Thailand's Ratanarak family, had announces Holcim's inten...

Reliance to sell part of cement division?

19 March 2015, Published under Cement News

Reliance Infrastructure, part of the Anil Ambani-led Reliance Group, may sell half of its cement business to fund the acquisition of Pipavav Defence and Offshore Engineering. Reliance Cement is in talks with Heidelberg and Italcementi, and has offered a 50 per cent stake in the company, according to a report published yesterday by Business Standard (India). The prospective joint venture partner will also fund the company's cement capacity expansion - estimated to rise from 5Mta to 15Mta by...

HeidelbergCement completes sale of North American and UK building products business

17 March 2015, Published under Cement News

HeidelbergCement on Friday completed the sale of its North American (excluding Western Canada) and United Kingdom building products business (collectively “Hanson Building Products”) to an affiliate of Lone Star Funds. “I am very glad to be able to hand over Hanson Building Products to a buyer which as an experienced financial investor will support the sustainable development of the business going forward,” said Dr Bernd Scheifele, CEO of HeidelbergCement. “This transaction marks the com...