Cement News tagged under: Mergers and Acquisitions

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Cemex fails to annul sale of 14% shares in Akmenes

20 October 2015, Published under Cement News

Cemex has failed to obtain a court order invalidating deals on the sale of a stake in Lithuania’s sole cement producer, Akmenes Cementas, through which Lithuanian three families were to take over control of the company. According to Baltic Business Daily, the Lithuanian Court of Appeals on 8 October turned down an appeal filed by Dutch-registered Rugby Holding, a subsidiary of Cemex, and refused to declare an agreement on the sale of a 13.68 per cent stake in Akmenes null and void and apply...

Lafarge Nigeria unit takes control of UNICEM

06 October 2015, Published under Cement News

An affiliate of Lafarge Africa has completed a 100 per cent acquisition of Nigeria's third-largest cement manufacturer, United Cement Company of Nigeria (UNICEM). Lafarge said its affiliate Nigerian Cement Holdings (NCH), owned a 70 per cent equity in UNICEM before agreeing a deal last November to buy the remaining 30 per cent stake from Flour Mills, Reuters reported. Unicem, which is based at Mfamosing, close to Calabar, southeastern Nigeria. Unicem is building a 2.5Mta line which will br...

Egypt: Qena Cement makes offer for larger stakes in Qalaa subsidiaries

06 October 2015, Published under Cement News

Egyptian investment company Qalaa Holdings announced Monday that it received a preliminary acquisition offer from Qena Cement to buy stakes in both its subsidiaries ASEC Minya and ASEC Ready Mix Concrete. According to the offer terms, Qena Cement t is seeking to acquire 46.5 per cent stake and 55 percent stake in ASEC Minya and ASEC Ready Mix Concrete respectively. Qalaa owns indirect stakes of 24.1 per cent and 28.5 per cent in both ASEC Minya and ASEC Ready Mix Concrete respectively. Me...

CalPortland completes acquisition of California assets from Martin Marietta Materials, USA

06 October 2015, Published under Cement News

Taiheiyo Cement USA, Inc and CalPortland Company announced that the purchase of certain Riverside cement business assets in California from Martin Marietta Materials, Inc was successfully completed on 30 September, 2015. The assets identified in the purchase include the Oro Grande Cement Facility, and two rail sided product distribution terminals located in in National City, CA and Stockton, CA.

Court of Rome declares validity of Buzzi offer for SACCI

02 October 2015, Published under Cement News

Buzzi Unicem has been informed by SACCI SpA (SACCI) that the Court of Rome has declared the admissibility of the composition plan submitted by SACCI on 21 September 2015. The composition plan includes the binding offer made by Buzzi Unicem for the acquisition of the cement and ready-mix concrete business unit of SACCI. The composition plan will be subject to the vote of the creditors in the meeting set by the Court for 18 January 2016. If the vote of the creditors of SACCI is positive, it ...

Bedeschi acquires Mid-West Conveyor Co

25 September 2015, Published under Cement News

Bedeschi SpA of Italy announced the acquisition of Mid-West Conveyor Co, a US-based provider of turnkey bulk material handling systems for the utilities, mining, cement, fertiliser, refinery and marine terminal sectors. Founded in 1947, the newly-named Bedeschi Mid-West Conveyor LLC (BMWC) has operations located in Lenexa, Kansas. From there it designs, manufactures and installs bulk materials handling systems, including pipe conveyors and rotary plows. Commenting on the acquisition, manag...

Lafarge Malaysia Bhd to acquire Holcim Malaysia

21 September 2015, Published under Cement News

Lafarge Malaysia Bhd plans to acquire Holcim (Malaysia) Sdn Bhd, for MYR330m (US$77.4m) cash, as part of parent company LafargeHolcim Ltd’s plans to consolidate operations in the southeast Asian country. In a filing with Bursa Malaysia today, Lafarge Malaysia said it has entered into a conditional share purchase agreement with Holcim Indonesia for the proposed acquisition. Lafarge Malaysia said it plans to finance the purchase consideration via a combination of internal funds and/or bank b...

St-Gobain gets green light to acquire control of Sika

16 September 2015, Published under Cement News

The Swiss competition commission (Comco) has authorised the control of Sika by construction materials giant St-Gobain, the French company announced in a press release on Tuesday. This decision follows the favourable ruling handed down by the European Commission on 22 July 2015 as well as the decisions already received from other competition authorities, notably in the United States and China.

Buzzi Unicem makes binding bid for SACCI

15 September 2015, Published under Cement News

Buzzi Unicem has made a second offer for fellow Italian producer SACCI to acquire its cement and ready-mix concrete business. In a statement Buzzi said it had offered a provisional price of EUR74m to be financed through liquidity on hand and/or existing credit facilities. A further variable outlay is expected on top of the original commitment which will be worth no less than EUR25m, Buzzi said. This variable outlay is connected to certain future events, most importantly the core earning...

CRC Cement Holdings to acquire 40% stake in Yunnan producer, China

15 September 2015, Published under Cement News

China Resources Cement Holdings Ltd (CRC) has agreed to pay CNY1.51bn (US$236.9m) for a 40 per cent stake in cement producer Yunnan Kunming Iron & Steel Building Materials Group Co, in a bid to lift production capacity. The Hong Kong-listed cement manufacturer said Monday it plans to buy a minority stake in the Yunnan-based producer.  Kunming Iron & Steel Holding Co, Ltd currently owns 100 per cent of Yunnan Kunming Iron & Steel Building Materials Group, a stake which will be reduced...