Cement News tagged under: Mergers and Acquisitions
Chettinad Cement in acquisition talks - report10 March 2014, Published under Cement NewsChettinad Cement is to acquire Anjani Portland Cement, according to local press reports. Citing sources familiar with the situation, Business Line India reported that the deal is expected to be formalised soon. The acquisition would give Chettinad Cement a company a significant presence in the Andhra Pradesh market. Anjani Cements has over 1.2Mta capacity in its two plants in Nalgonda district of Andhra Pradesh. It also has plans to establish a greenfield unit in Karnataka. |
India Cements approves scheme of amalgamation26 February 2014, Published under Cement NewsIndia Cement has informed the Bombay Stock Exchange that its board of directors has approved a scheme of amalgamation of its subsidiaries Trinetra Cement (TCL) and Trishul Concrete Products Ltd (TCPL), effective 1 January 2014, subject to approval from the relevant authorities. |
India: UltraTech in talks to acquire further Jaypee assets – report21 February 2014, Published under Cement NewsUltraTech Cement is in preliminary talks to acquire the Jaypee Group’s cement assets in Solan, Himachal Pradesh state, according to local media citing two sources familiar with the situation. The assets include an integrated cement plant and a grinding and blending unit. Two European companies were also reported to be in the race to but talks have have failed, one of the two people, a senior executive at one of the companies, said. In September 2013, UltraTech acquired Jaypee’s cement as... |
China expected to announce relief measures to stimulate consolidation20 February 2014, Published under Cement NewsChina's State Council is expected to release specific measures to stimulate cement industry consolidation to address three key areas. A report published by China Perspective, states that HSBC anticipates that the government may strengthen financing support for the shakeup, including bank loans and equity placement or bond issuance from secondary market. Secondly, inefficient approval process may be simplified by the government, especially for cross-region deals. Finally, the governmen... |
Buzzi in strategic agreement with W&P Cementi19 February 2014, Published under Cement NewsBuzzi Unicem is paying some EUR22m for a 25 per cent stake in Salonit Anhovo, the leading cement producer in Slovenia with an capacity approaching 1.4Mta and for a 25 per cent interest in Wietersdorfer & Peggauer's Italian subsidiary W&P Cementi. As part of the same deal, Buzzi Unicem is receiving EUR22m from W&P Cementi for the Italian cement major’s 0.3Mta cement works at Cadola (Italy) and the right to acquire the 0.4Mta Travesio (Italy) cement plant within the next five years. ... |
HeidelbergCement takes over logistics company18 February 2014, Published under Cement NewsHeidelbergCement has increased its participation in the logistics company Kerpen & Kerpen GmbH & Co KG from 30 per cent to 100 per cent, the German cement major said in a statement yesterday. The purchase price of around EUR23.5m was paid in the form of 416,477 new HeidelbergCement shares, which were issued as part of a capital increase in return for contributions in kind. Kerpen & Kerpen will be fully integrated into HeidelbergCement's business in Germany, constituting the core of the... |
Cemex confident on medium-term goals14 February 2014, Published under Cement NewsCemex remains confident that it is on track to meet its medium-term EBITDA goal as it continues to capture the full potential from its existing portfolio to improve profitability and return to investment-grade status, the company said during its annual investor gathering. Speaking on the company’s strategy and outlook during Cemex Day 2014 held yesterday, Juan Pablo San Agustin, executive VP of strategic planning and new business development, reiterated the company's intention of achieving... |
Cargotec's MacGregor completes acquisition of Aker Solutions unit31 January 2014, Published under Cement NewsCargotec's MacGregor has completed the acquisition of the mooring and loading systems business from Aker Solutions. Cargotec announced the agreement to acquire the unit in October 2013 for an enterprise value of approximately EUR180m. The unit will be consolidated into MacGregor's results as of 1 February 2014. "The addition of the mooring and loading systems' team members, technologies and products further positions MacGregor as a true leader in the marine and offshore equipment market. ... |
Martin Marietta to take over Texas Industries29 January 2014, Published under Cement NewsMartin Marietta Materials, currently the fourth-largest US aggregates producer, is making an agreed, all-share offer for Texas Industries. If concluded, it will leave existing Martin Marietta Materials shareholders with around 69 per cent of the combined equity, with the remaining 31 per cent going to the existing owners of Texas Industries. Martin Marietta will thereby enter the cement industry and the merged entity will control some 400 quarries, pits and distribution points across 36 ... |
Morgan Stanley maintains Cemex rating27 January 2014, Published under Cement NewsMorgan Stanley has maintained its 'Overweight' rating on Cemex, raising its price target to US$14.00 from US$13.00. It believes that the Mexican cement major could be turning the corner in its domestic market where demand will be driven by infrastructure in the first half of the year, and by retail and housing projects in the latter half. Morgan Stanley analysts Nikolaj Lippmann and Lillian Starke, have said that the Cemex-Holcim asset swap deal announced in August 2013 could be the fir... |