Cement News tagged under: Mergers and Acquisitions
Bedeschi acquires Mid-West Conveyor Co25 September 2015, Published under Cement NewsBedeschi 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 Malaysia21 September 2015, Published under Cement NewsLafarge 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 Sika16 September 2015, Published under Cement NewsThe 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 SACCI15 September 2015, Published under Cement NewsBuzzi 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, China15 September 2015, Published under Cement NewsChina 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 deal03 September 2015, Published under Cement NewsHeidelbergCement 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... |
HeidelbergCement02 September 2015, Published under Cement NewsIndocement 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 71Mta02 September 2015, Published under Cement NewsUltraTech 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 Cements01 September 2015, Published under Cement NewsSagar 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 Americas27 August 2015, Published under Cement NewsCRH'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. ... |