Cement News tagged under: Mergers and Acquisitions

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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...

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...

CalPortland Co to buy Martin Marietta's California cement business

06 August 2015, Published under Cement News

Taiheiyo Cement Corp announced Tuesday that its California subsidiary CalPortland Co (CPC) will buy Martin Marietta Materials Inc's cement business in California for US$420m. Major assets included in the deal are the Oro Grande cement plant (situated near the major market of Los Angeles) and the Stockton and San Diego cement terminals. "This asset purchase from Martin Marietta will allow CPC to replace the cement production capacity lost by the discontinuation of cement production ...

LafargeHolcim Ltd to launch squeeze-out for remaining Lafarge SA shares

04 August 2015, Published under Cement News

LafargeHolcim Ltd announces that it has decided to initiate a squeeze-out process for all issued and outstanding shares of Lafarge SA. After surpassing the necessary 95 per cent threshold in share capital and voting rights and following a decision by the Board of Directors, LafargeHolcim Ltd plans to request the AMF to implement a squeeze-out procedure pursuant to their general regulations for Lafarge SA shares not tendered to the Public Exchange Offer. LafargeHolcim Ltd will publish f...

DBN ups stake in Ohorongo Cement, Namibia

04 August 2015, Published under Cement News

The Development Bank of Namibia has increased its stake in Ohorongo Cement, which is majority-owned by Schwenk Zement KG of Germany from 10 to 11.72 per cent. "The bank's decision to increase its shareholding in Ohorongo Cement is firstly driven by its equity investment strategy to take up shareholding in business projects and secondly its desire to invest in quality assets with potential to earn profits to finance future development,"  chairperson of the bank, Penny Akwenye, said. The US$...

CRH completes Lafarge-Holcim transaction

03 August 2015, Published under Cement News

CRH announced that the transaction to acquire certain assets from Lafarge SA and Holcim Ltd for a total enterprise value of EUR6.5bn is now complete, with the exception of the Philippines which is expected to close in the third quarter of this year. The deal was initially announced in on 2 February 2015, with a binding agreement sealed between the companies towards the end of May. Commenting on the completion of the acquisitions, Albert Manifold, CRH chief executive, said: “Today we extend...