Cement News tagged under: Mergers and Acquisitions
US Concrete acquires aggregates operation in New Jersey11 April 2017, Published under Cement NewsUS Concrete Inc announced yesterday that it has strengthened its aggregates capacity and ability to supply its New York City ready-mixed concrete operations by acquiring the assets of Corbett Aggregates Companies LLC, a provider of concrete sand located in Quinton, New Jersey. The acquisition furthers US Concrete's vertical integration strategy and self-sufficiency in internal aggregates consumption, the company noted. Corbett features approximately 401 acres of land with over 35Mt of pr... |
Pakistan: Bestway Cement shelves plans to acquire Dewan Cement10 April 2017, Published under Cement NewsBestway Cement has announced it has shelved plans to acquire the North plant of Dewan Cement in Pakistan. “As a result of delay and uncertainty resulting from recent legal proceedings initiated in the Sindh High Court, Bestway Cement Limited has decided not to proceed with the acquisition of the north plant of Dewan Cement Ltd located at Kamilpur, near Haripur, Khyber Pakhtunkhwa,” the company said in a notice issued to the Pakistan Stock Exchange. Bestway did not cite the reason for its... |
India: Orient and JP deal reportedly in final stages05 April 2017, Published under Cement NewsOrient Cement's plan to acquire certain assets of the Jaypee Group is in the final stages and completion of the deal could be announced shortly, according to local media. Citing sources familiar with the development, 'Moneycontrol' reported today that management of both Orient and the Jaypee Group are due to meet this week to discuss last-minute details of the deal. In October 2016, the two companies announced that Orient Cement Would acquire Jaiprakash Associates’ entire stake in Bhil... |
EU reportedly set to block HeidelbergCement, Schwenk's Cemex Croatia deal29 March 2017, Published under Cement NewsEU antitrust regulators are set to block HeidelbergCement and Schwenk's joint bid for Cemex's Croatian unit barring a last minute change of mind, Reuters reports. The European Commission, which opened an investigation into the deal in October last year, has not been convinced so far by the companies' offer to lease a terminal on the Dalmatian coast to a rival to address its concerns, the news agency reported citing two source familiar with the matter. The EU competition authority has said ... |
South Korea: preferred bidders named in US$567m Hyundai deal17 February 2017, Published under Cement NewsHanil Cement Company and LK Investment Partners have been named as the preferred bidders to acquire Hyundai Cement, reports South Korea's Pulse. The two firms submitted a bid of KRW650bn (US$567m) for an 84.56 per cent stake in Hyundai. The acquisition would make Hanil Cement the largest producer in South Korea, with a market share of more than 30 per cent. The bid values Hyundai at nearly 60 per more than its current market capitalisation of KRW486bn. A final deal is expected to be si... |
PCC and AfriSam in merger talks13 February 2017, Published under Cement NewsPPC is in merger talks with its nearest competitor, AfriSam Group, seeking to overcome valuation disagreements that prevented the completion of previous tie-up efforts, according to Reuters. AfriSam first proposed the merger in 2014, when infighting between the PPC board and its former CEO has put downward pressure on PPC’s share price. However, shares in PPC have performed significantly better, increasing by a third this year to date. The cement producer is valued at about ZAR11bn (US... |
India: JSW Cement takes 37% stake in Shiva Cement12 January 2017, Published under Cement NewsJSW Cement has bought out the promoters of Odisha-based Shiva Cement, acquiring 37.15 per cent of the latter’s equity, the Economic Times reports. "The share purchase agreement has been executed with JSW Cement Ltd, for sale of shares held by the promoters of the company," Shiva Cement said in a stock exchange filing. JSW has also made an open offer to acquire a further 32 per cent of publicly held shares in Shiva – a majority stake. Shree Cement had also been in the running to acqu... |
USA: FTC approves HeidelbergCement divestiture16 November 2016, Published under Cement NewsThe US Federal Trade Commission (FTC) has given its approval to an application from HeidelbergCement and Italcementi for the divestiture of the Essroc Martinsburg cement plant in West Virginia and eight cement terminals, local newspaper the Morning Call reports. The plant and terminals are to be acquired by Cementos Argos for US$660m. The divestiture was required by the FTC to preserve competition in the face of the merger of HeidelbergCement and Italcementi. The deal was originally ag... |
Vietnam: multiple mergers and acquisitions05 September 2016, Published under Cement NewsSiam City Cement (SCCC) is set to purchase 65 per cent of the stakes in LafargeHolcim Vietnam in a deal valued at US$524m. The acquisition is due to be completed in the 4Q once all administrative procedures are completed. This is not the first Thai purchase of Vietnamese cement operations. In 2012 SCG Cement bought Buu Long cement plant in the Dong Nai province. SCG has been developing multiple projects in the country, purchasing stakes in a range of building materials manufacturers,such ... |
US: HeidelbergCement moves closer to acquiring Essroc17 August 2016, Published under Cement NewsHeidelbergCement AG and its Italian rival Italcementi SpA, the owner of Nazaerth-area Essroc operations have agreed to divest certain assets to settle the Federal Trade Commission's charge that the proposed US$4.2bn merger would likely harm US competition. The deal is not expected to affect area cement-making operations, officials from both companies said to The Morning Call on Tuesday. HeidelbergCement owns Lehigh Hanson Inc, which is based in Irving, Texas, while Italcementi owns Essroc ... |