Cement News tagged under: Mergers and Acquisitions

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JSW completes acquisition of HeidelbergCement India grinding unit

08 October 2013, Published under Cement News

JSW Steel has completed the acquisition of HeidelbergCement India’s 0.6Mta grinding plant in Raigad, Maharashtra, for an undisclosed sum. The two companies signed the Business Transfer Agreements for the acquisition on 5 October, both said in respective filings with the Bombay Stock Exchange. ??"The transaction will be consummated only after obtaining all relevant approvals required under applicable laws," it further said but did not disclose the value of the deal. The Raigad works was...

HeidelbergCement mulls sale, float of building products business - report

07 October 2013, Published under Cement News

HeidelbergCement is considering selling its building products operations but could simultaneously float the unit shares on the stock market, its chief has told Reuters. Speaking to the news agency on Friday, Berd Scheifele said the German major would first look into potential divestment opportunities for part of the business next year. He further added that amid the top economic environment, top priorities are to keep cash aside and focus on organic growth. The company may, however, cons...

Jaiprakash shortlists new round of divestments

26 September 2013, Published under Cement News

Hot on the heels of selling its Gujarat cement facilities to UltraTech earlier this month, Jaiprakash Associates has initiated talks to sell two units in the Indian state of Himachal Pradesh to further trim its debt. According to local press reports who have cited multiple sources familiar with the deal, Jaiprakash is in talks with potential buyers to sell a 2Mta integrated works and a 2Mta grinding unit, both in the Solan district. Preliminary discussions have begun with a few global a...

HeidelbergCement looks to increase Indian capacity

19 September 2013, Published under Cement News

HeidelbergCement India is looking to raise its capacity in India over the next few years to 15Mta including acquisitions. Speaking to the Financial Express, CEO of the India-based cement producer said: “We have plans to raise capacity to 15Mta in the next three-four years from the current level of 5.4Mta. We will be pursuing both organic and inorganic acquisitions. According to local press speculation, the company is in talks with potential sellers in central India where it already has...

Gansu Qilianshan Cement expands into Gansu province, China

17 September 2013, Published under Cement News

Gansu Qilianshan Cement Group Co Ltd plans to invest CNY265.59m (US$43.4m) to acquire a 100 per cent in Longran Runji Cement Co to expand into the Gansu province market. Runji Cement currently operates a 2500tpd dry-process line.

Refratechnik Group acquires Burton GmbH, Germany

17 September 2013, Published under Cement News

The Refratechnik Group, a leading manufacturer of ceramic refractory products has acquired the facilities of Burton GmbH & Co. KG  in Melle, near Osnabrück, Germany. As a result of this strategic takeover, Refratechnik Ceramics will become a market leader and global supplier of refractory products for industrial furnaces in the ceramics industry. The product ranges in this field encompass wall, roof and car systems as well as furniture for tunnel kilns, in which products such as refractory...

UltraTech on verge of signing Jaiprakash Associates deal

11 September 2013, Published under Cement News

UltraTech Cement is reportedly on the verge of signing a deal with Jaiprakash Associates to acquire the latter’s cement assets in the Indian state of Gujarat. Following months of negotiations, the agreement is expected to be signed today, according to local press speculation. Both Jaypee and UltraTech are expected to make the announcement simultaneously in Delhi and Mumbai, respectively. The Gujarat units have a capacity of 4.8Mta and will help increase UltraTech’s presence in western Indi...

S&P lifts Cimpor outlook from stable to positive

05 September 2013, Published under Cement News

Standard & Poor’s has reaffirmed its ‘BB/B’ long and short term rating on Cimpor and InterCement, revising the outlook from stable to positive. The change follows the Outlook revision from stable to positive, keeping a ‘BB’ rating of Camargo Correa, which indirectly controls 94.2 per cent of Cimpor share capital. According to the rating’s agency, the outlook revision to positive based on the successful integration of InterCement and Cimpor assets and on the expectation that the new cement ...

Lafarge sells Honduras operations to Cementos Argos

03 September 2013, Published under Cement News

Lafarge announced the sale of its cement operations in Honduras to Cementos Argos for a total enterprise value of EUR435m, the France-based cement major announced in a statement today. This enterprise value represents a 2012 EBITDA multiple of 8.6. Lafarge owns 53.3 per cent of the Honduran subsidiary, Lafarge Cementos SA de CV. The assets sold comprise an integrated cement plant with a capacity of 1Mta and a grinding station with a 0.3Mta capacity. The transaction is subject to releva...

Sinoma acquires majority stake in Hazemag

03 September 2013, Published under Cement News

Sinoma International Engineering Co Ltd has acquired a majority stake in German mining equipment firm Hazemag & EPR for US$137m. Beijing-based Sinoma bought the 59.09 per cent stake from the Schmidt Kranz Group through a share purchase agreement, according to a statement filed by Sinoma's parent company, the China National Materials Co Ltd. The deal will help Sinoma International expand its reach in mining equipment and has been approved by China's State-owned Assets Supervision and Ad...