Cement News tagged under: Mergers and Acquisitions
JP Morgan Chase & Co acquires shares in Anhui Conch Cement20 June 2014, Published under Cement NewsJP Morgan Chase & Co bought 257,000 shares in Anhui Conch Cement Co Ltd worth HK$ 7.03m on 13 June 2014, sources reported, citing the Hong Kong Stock Exchange. After the purchase, the USA financial institution holds a combined 143.16m shares in the cement manufacturer, accounting for an 11.01 per cent stake. |
UltraTech in talks to buy further Jaiprakash assets11 June 2014, Published under Cement NewsUltraTech Cement is reportedly in talks to buy further cement assets from Jaiprakash Associates, two sources with knowledge of the matter have told local press. The talks are centred on UltraTech acquiring Jaiprakash’s Rewa complex in Madhya Pradesh, to help the latter company reduce its debt burden. Last year, UltraTech agreed to buy Jaiprakash’s cement assets in Gujarat which have a cement capacity of 4.8Mt. |
Semen Indonesia targets over 40Mta of capacity in 201710 June 2014, Published under Cement NewsSemen Indonesia targets over 40Mta of capacity over the next three years, as it continues to increase domestic capacity and seeks to expand into other Asian countries and beyond. This year the company targets capacity of 31.8Mt this year, according to its president Dwi Soetjipto. By 2016 Semen Indonesia will further expand its production capacity to 37.8Mt with new production facilities in West Sumatra and Central Java, Indonesia, Dwi added. Meanwhile, there will be an increase of 2... |
EU clears Holcim and Cemex deal in Germany06 June 2014, Published under Cement NewsHolcim has received unconditional clearance by the European Commission for its proposed acquistion of Cemex West in Germany. The decision follows a detailed Phase II review by the European Commission. The acquisition in Germany is part of the strategic portfolio optimisation in Europe that includes a series of transactions together with Cemex and that is separate from the intention to merge with Lafarge. In the Czech Republic, the proposed acquisition of Holcim Cesko by Cemex was clear... |
Lafarge to merge South Africa and Nigerian units04 June 2014, Published under Cement NewsLafarge has announced it is to consolidate its African operations by combining its businesses in Nigeria and South Africa. Lafarge will transfer its shares in its Nigerian and South African operations into Lafarge WAPCO Nigeria Plc, which will then be renamed Lafarge Africa Plc. The combined entity will have a cement capacity of about 12Mt, as well as operations in aggregates, ready-mix and fly ash. Chairman of Lafarge WAPCO, Chief Olusegun Osunkeye, OFR, OON said the transaction will: "... |
Semen Indonesia targets Bangladesh acquisition03 June 2014, Published under Cement NewsSemen Indonesia is looking to acquire a cement plant in Bangladesh to strengthen its position in the Asian market. President director, Dwi Soetjipto, told local press that it hopes to complete the purchase later this year or early in 2015. The factory in question is reported to have a capacity of 06.-1Mta. It is also planning to strengthen its regional grip by acquiring a cement company in Myanmar, the process of which is expected to be completed in July. In 2012, Semen Indoensia make it... |
Lafarge sells Ecuador operations28 May 2014, Published under Cement NewsLafarge announced the sale of its cement operations in Ecuador for an enterprise value of US$553m to Union Andina de Cementos SAA (UNACEM). Lafarge Cementos SA operates an integrated cement plant of 1.4Mt of capacity, located in Otavalo, in the North of the country. This divestment will contribute to Lafarge's objective to reduce net debt below EUR9bn in 2014, the group said. Ecuador was one of the countries where the proposed ‘LafargeHolcim’ combination was expected to see considerable... |
India Cements to merge with subsidiary27 May 2014, Published under Cement NewsIndia Cements is planning to merge with its subsidiary Trinetra Cement to consolidate its operations. N Srinivasan, vice chairman and managing director of India Cements, said the merger will bring the operations under one company. "We will get the benefit of profitability of Trinetra and improve the performance of India Cements," he said. Post-merger the total capacity of India Cements would go up to 15.8Mt. India Cement currently has a capacity of 15.5Mta from seven integrated plants i... |
Reliance acquires control of West Bengal grinding unit23 May 2014, Published under Cement NewsReliance Cement has taken indirect control of a small grinding unit in West Bengal for an undisclosed price. The 0.5Mta facility is located at Durgapur, 180km from Kolkata. Reliance Cement, part of Anil Ambani’s Reliance’s Group, proposes to raise capacity of the Ma Chandi Durga Cement unit to 1Mta. For now, it is to be used as a contract manufacturing facility run by its founders, the Kedia family. Reliance has an irrevocable right to gain control of Ma Chandi Durga Cement whenever it ... |
Chettinad purchases shares in Anjani Portland21 May 2014, Published under Cement NewsChettinad Cement Corporation Ltd has purchased approximately 20.58% of shares of Anjani Portland Cement Ltd from shareholders. Chettinad Cement has reportedly acquired 3784.014 shares through off market purchase for a price of INR61.75/share (US$1.05). Chettinad Cement, based in Chennai, India, announced its plans to acquire Anjani Portland Cement, based in Andhra Pradesh (AP), in March 2014. The purchase forms part of the company’s strategy to increase its presence in the AP market, situ... |