Cement News tagged under: Mergers and Acquisitions

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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...

HeidelbergCement strengthens finances for Italcementi deal

03 September 2015, Published under Cement News

HeidelbergCement has strengthened its financing to prepare itself for the acquisition of Italcementi. On 31 August, the cement producer completed the disposal of its lime business in Germany to the Belgian Lhoist Group. Both companies agreed not to disclose any details about the transaction. In addition, HeidelbergCement successfully syndicated the bridge financing for the acquisition of Italcementi. All core banks of HeidelbergCement participated in equal shares in the syndication of the c...

HeidelbergCement

02 September 2015, Published under Cement News

Indocement is to cease production at three older lines it its Citeureup works in Indonesia. The production lines to be closed are P1, P2 and P6. The new P14, with a cement capacity of 4.4Mta is to come online towards the end of the year. Indocement’s domestic deliveries declined by 8.8 per cent to 8.2Mt during the first six months of the year and its market share came down from 30.5 to 29.1 per cent. HeidelbergCement has interests of 50 per cent in Duna-Drava Cement (Hungary) and of 23.9 ...

UltraTech Cement poised to lift capacity to 71Mta

02 September 2015, Published under Cement News

UltraTech Cement is set to take its capacity to 71.2Mta by 31 March 2016 on the back of ongoing projects as well as recent acquisitions, chairman Kumar Mangalam Birla said on Friday. "Despite the cement industry being snowed under the slowdown in the rural economy, lack of investment from both private and public sector coupled with the overall sluggish demand, UltraTech had put in a commendable performance...With the on-going projects underway, the capacity in India will grow to 71.2Mta by...

India: BMM Cements becomes wholly-owned subsidiary of Sagar Cements

01 September 2015, Published under Cement News

Sagar Cements has acquired 100 per cent equity holding in BMM Cements. With this, BMM Cements has now become a wholly-owned subsidiary of the company. The company had earlier received final approval for the acquisition of 100 per cent equity stake in BMM Cements, which owns a cement plant of 1Mta and a 25MW captive thermal power plant in Gudipadu near Tadipatri Anantapur District in the state of Andhra Pradesh. The board of directors at their meeting held on 17 October 2014 approved the d...

CRH's first-half driven by the Americas

27 August 2015, Published under Cement News

CRH's first half turnover advanced by 12.6 per cent to €9,370m and the EBITDA improved by 9.9 per cent to €555m. The trading profit increased by 11.2 per cent to €189m and after a net interest charge 8.6 per cent higher at €139m, the pre-tax profit increased by 3.3 per cent to €63m. The net attributable result improved by €1m to €46m. Net debt at the end of June was 67.3 per cent lower at €1212m, giving a gearing level of 9.7 per cent, which compares with 39.9 per cent a year earlier. ...

Fletcher Building to sell Rocla Quarry Products business to Hanson

19 August 2015, Published under Cement News

Fletcher Building Ltd has entered into a conditional agreement to sell the operations of Rocla Quarry Products (RQP) to Hanson Construction Materials in a transaction valued at approximately AUD203m (US$149m).   Fletcher Building will continue to own and operate RQP until completion of the transaction, which is expected to be by the end of January 2016.   The transaction is conditional upon a number of matters, including clearance from Australian Competition and Consumer Commission. Upon com...

Fosroc reaches agreement to acquire majority shareholding in Idea Kimya, Turkey

18 August 2015, Published under Cement News

Fosroc, the international construction chemicals group, said it has reached an agreement to acquire a "substantial majority shareholding" in Turkish cement additives company Idea Kimya, subject to regulatory approval. Commenting on the deal, Dr Andre Ladurelli, CEO of Fosroc, said:  “Our strategy is to continue achieving double-digit organic growth in existing businesses and enter new territories through the formation of new ventures as well as through acquisitions. The acquisition of Ide...