Cement News tagged under: Mergers and Acquisitions

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Jaiprakash Associates to seek shareholders' approval for divestments to UltraTech

24 April 2015, Published under Cement News

Jaiprakash Associates Ltd will next month seek approval from its shareholders and creditors for the proposed sale of its cement units to UltraTech Cement. "Pursuant to an order dated March 25, 2015...the High Court of Judicature at Allahabad has directed meetings of the equity shareholders and creditors of Jaiprakash Associates to be convened on May 16...for considering the scheme of arrangement between Jaiprakash Associates and Ultratech Cement Ltd," Jaiprakash Associates said in a...

Italcementi Group to acquire two Holcim facilities in the US

23 April 2015, Published under Cement News

Essroc, the North American subsidiary of Italcementi group company Ciments Français, has signed an agreement with Holcim to purchase the slag cement grinding facility in Camden, New Jersey, USA. As part of the transaction, Essroc will also obtain Holcim cement terminal in Everett (Massachusetts). The acquisition will be finalised pending completion of the Holcim and Lafarge merger later this year. Holcim’s staff in Camden and Everett will join Essroc, Italcementi said in a statement. The ...

ISS backs LafargeHolcim deal

22 April 2015, Published under Cement News

US shareholder adviser ISS has recommended that Holcim investors back the Swiss cement maker's proposed merger with Lafarge ahead of next month's shareholder vote on the tie-up. Backing from ISS is a boost Holcim as it seeks to win the support of two-thirds of investors at a shareholder meeting on 8 May 2015 to approve a capital increase to fund the proposed deal. ISS said in its report to investors that the deal warranted investors' support as it had a clear strategic rationale and offere...

Century Textiles to reportedly spin off cement unit

22 April 2015, Published under Cement News

Century Textiles, owned by Birla patriarch Basant Kumar Birla, will spin off its cement business and merge it in an all-share deal with UltraTech Cement, owned by grandson Kumar Mangalam Birla, two people with direct knowledge of the plan have told the Economic Times of India. "Both companies are in the final stages of a plan to merge the cement businesses," one of the two persons said. "The enterprise value of Century's cement business has been put at INR10,500 crore, and an announcement c...

Semen Indonesia eyeing another Vietnamese acquisition

21 April 2015, Published under Cement News

Semen Indonesia is looking to acquire a second cement producer in Vietnam to further bolster its presence in the southeast Asian country. Director of finance Ahyanizzaman said Semen Indonesia had assigned a total capital expenditure of between IDR7trn (US$545.8m) and IDR11trn this year to boost its operations, which includes the takeover of the Vietnamese company. He said that the firm was now implementing a due diligence audit on the Vietnamese company which would be completed by the end...

Eurocement seeks Galchev Board seat at LafargeHolcim

16 April 2015, Published under Cement News

Eurocement Holding AG, the second-biggest shareholder in Holcim Ltd, said Wednesday it is nominating its owner, Filaret Galchev, for a position on the Board of the company that would be created by the planned tie-up between Holcim and Lafarge. The proposed nomination of Galchev in an emailed statement may signal that Eurocement, which holds a 10.8 per cent stake in Holcim, is willing to support the merger with Lafarge at next month's shareholder vote. The firm, however, gave no indication...

Hoang Phat Vissai Group acquires control of Song Lam 2 Cement

16 April 2015, Published under Cement News

Hoang Phat Vissai Group has acquired Song Lam 2 Cement JSC in Vietnam's central province of Nghe An from state-owned PetroVietnamCement 12/9 JSC. The group will invest VND500bn to complete and speed up construction of the plant in order to operate it in the next quarter. By purchasing Song Lam 2 Cement Company, Vissai now owns nine clinker and cement production units across Vietnam.

Fitch affirms Holcim at 'BBB'; Outlook Stable

15 April 2015, Published under Cement News

Fitch Ratings has affirmed Holcim Ltd's (Holcim) Long-term and Short-term Issuer Default Ratings (IDR) at 'BBB' and 'F2', respectively. The Outlook is Stable. "The affirmation reflects Holcim's leading market positions as one of the world's largest cement producers and our expectation that its financial profile remains commensurate with its 'BBB' rating. We expect a recovery in global end-markets, particularly in developed markets, and the continued healthy, albeit slowing, growth in emer...

Future Board of Directors of LafargeHolcim nominated

14 April 2015, Published under Cement News

Holcim and Lafarge have nominated their candidates for the future Board of Directors of the combined merged company, subject to closing of the transaction. The designated Board of Directors will consist of 14 members due to be elected at the Holcim Extraordinary General Meeting on 8 May 2015. Candidates • Wolfgang Reitzle, Co-Chairman (currently Chairman of the BoD of Holcim) • Bruno Lafont, Co-Chairman (currently Chairman of the BoD and Chief Executive Officer of Lafarge)
 • Be...

Brazil: CSN considering merger with cement unit

13 April 2015, Published under Cement News

Brazilian steelmaker CSN is considering a merger with its subsidiary CSN Cimentos, Business News Americas reported. CSN, in a regulatory filing, said it would present the proposal to shareholders for approval. The merger would help CSN achieve synergies and economies of scale. It would result in "process optimisation and maximised results," with all business and administrative activities carried out via a "single organizational structure," CSN said. The net worth of CSN Cimentos is BRL1b...