Cement News tagged under: Mergers and Acquisitions

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Mitsubishi Materials and Ube Industries Ltd consider cement merger

14 February 2020, Published under Cement News

Japan’s Mitsubishi Materials Corp has signed letter of intent regarding the merger of its cement business with Ube Industries Ltd. The company’s will now begin discussions regarding the integration and plan to sign a definitive agreement around September 2020. The two companies already have a joint venture, Ube-Mitsubishi Cement Corp, established in 1998. "While the business situations surrounding the cement business in Japan are currently undergoing significant changes, including slowing ...

Nexe Grupa reportedly looks to acquire Cemex Croatia

29 January 2020, Published under Cement News

Croatia’s Nexe Grupa is reportedly interested in acquiring the local unit of Cemex, which is still for sale following HeidelbergCement’s bid to buy it several years ago, according to Croatian media reports. Representatives from Nexe visited the headquarters of Cemex Croatia to carry out due diligence of the business, according to Slobodna Dalmacija. Cemex Croatia's assets comprise of three cement plants, two aggregate quarries and seven ready-mix plants. In 2015 Cemex signed an agreeme...

Cementos Progreso acquires Cemento Interoceánico

17 January 2020, Published under Cement News

Guatemala’s Cementos Progreso has acquired a 100 per cent stake in Cemento Interoceanico SA, a Panama-based producer. Fabrega, Molino & Mulino acted as a legal adviser to Cementos Progreso, while Morgan & Morgan represented Cemento Interoceanico, according to Market Line.

Eagle Materials' acquisition of Kosmos receives approval

14 January 2020, Published under Cement News

The US-based Federal Trade Commission (FTC) has cleared Eagle Materials Inc’s agreement to acquire certain assets from Kosmos Cement Company, Kentucky, a joint venture between Cemex and Buzzi Unicem. The anti-trust approval was received on 9 January. The assets being divested consist of the 1.7Mta cement plant in Louisville and seven distribution terminals as well as raw material reserves. The net proceeds obtained from this transaction will be distributed to Cemex and Buzzi Unicem in...

PT Semen Indonesia to concentrate on strengthening regional market position

13 January 2020, Published under Cement News

Hendi Prio Santoso, managing director of PT Semen Indonesia Tbk (SMGR), has stated that the company will focus on developing derivative products and expanding into regional markets. "As an integrated provider of building material solutions, the affirmation of the company's focus is very important to maintain a sustainable growth trend in the future," said Mr Santoso. He was very grateful for the company's performance achievements in 2019. In the midst of increasingly-fierce industry compet...

Cemex set to divest certain UK assets to Breedon Group

08 January 2020, Published under Cement News

UK-based Breedon Group has announced that it has entered into a conditional agreement with Cemex to acquire certain assets and operations in the UK for a total consideration of GBP178m, on a cash and debt free basis. The assets encompass approximately 100 active operations, including 49 ready-mix plants, 28 aggregate quarries, 4 depots, 1 cement terminal, 14 asphalt plants and 4 concrete products operations. The operations are located across six divisions located in Scotland, Wales, north-...

Ohorongo Cement to be acquired by West China Cement

06 January 2020, Published under Cement News

Namibia's Ohorongo Cement is set to be acquired by West China Cement for US$104m, following an agreement made on 3 January. The takeover is expected to completed soon but is subject to Namibian regulatory approval. Negotiations reportedly began last year when the owners of Ohorongo Cement announced plans to sell its mine which has over 80 per cent of the site’s raw materials. The sale and purchase agreement is subject to certain conditions which must be satisfied by 31 March 2020 in or...

CRH seeking buyers for its Brazilian business

30 December 2019, Published under Cement News

CRH, Ireland, is selling its cement business in Brazil, which it acquired in 2015 as part of a portfolio of assets bought from Lafarge and Holcim during their merger, according to reports in Valor Economico. CRH Brasil Participacoes S.A. operates three integrated plants and one grinding mill in the states of Minas Gerais and Rio de Janeiro with a total cement production capacity of 2.75Mta. CRH has reportedly hired Citigroup to help find buyers for the Brazilian assets. The bank is already...

Shareholders approve CCNN-Obu merger

06 December 2019, Published under Cement News

Shareholders of Cement Co of Northern Nigeria (CCNN) and Obu Cement Co have unanimously approved the merger of the two entities into Obu Cement plc. This implies that all the assets, liabilities, licences and undertakings of CCNN, including employees, real property and intellectual property right, have been transferred to Obu Cement. Also, the entire issued share capital of CCNN, comprising 13,143,500,966 ordinary shares of 50 kobo each be cancelled and CCNN be dissolved without being woun...

Cemex reportedly looks to sell stake in Louisville plant

22 November 2019, Published under Cement News

Cemex is reportedly looking for a buyer for its controlling interest in the Kosmos cement plant in Louisville, Kentucky, USA. The company is working with Bank of America Corp and Citigroup Inc on the sale of its 75 per cent stake, said the unnamed sources for El Financiero. The remaining stake in the company is owned by Buzzi Unicem. The sources also noted that no definitive decisions have been made and the deliberations may not lead to a transaction.