Cement News tagged under: Mergers and Acquisitions

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India invites expressions of interest for CCI units

29 August 2013, Published under Cement News

The government of India has announced plans to sell four non-operating units of state-owned Cement Corporation of India. “Cement Corporation of India has started the sale process as it has invited expressions of interest for the outright sale of four non-operational units. The sale would be done through an e-auction process,” an official said. The government owns 100 per cent of the public sector unit. In total, CCI comprises 10 facilities, of which seven are not operational.

Holcim and Cemex to swap, combine assets in Europe

28 August 2013, Published under Cement News

Holcim and Cemex have reached an agreement to conduct a series of transactions to exchange and combine assets in parts of Europe with the aim of improving synergies and boosting operating profit. Cemex increase its presence in Central Europe through the acquisition of Holcim Cesko in the Czech Republic. The deal includes one cement plant (cement and clinker capacities of 1.1Mta and 0.9Mta, respectively), four aggregate quarries and 17 ready-mix plants. Holcim said it will continue to serve...

Buzzi Unicem completes buy-out of Dyckerhoff shares

28 August 2013, Published under Cement News

Buzzi Unicem said on Tuesday that the squeeze-out of all outstanding ordinary and preferred shares in German-based Dyckerhoff AG still held by minority shareholders was recorded in the Commercial Register in Germany. As a result, as of 27 August 2013, the Italian cement major holds 100 per cent of Dyckerhoff. The payment to the minority shareholders of the cash compensation equal to EUR47.16 per share for a total EUR65.3m is expected to be carried out on 30 August 2013. The stock excha...

UltraTech poised for Jaiprakash's Gujarat units

27 August 2013, Published under Cement News

UltraTech Cement is said to be in advanced stages of discussions to acquire the Gujarat-based cement units of Jaiprakash Associates, local media have reported. Sources familiar with the deal told Business Standard of India that the cement units are to be sold at a valuation of US$130/t, lower than the US$160/t Jaiprakash had earlier been seeking. Jaiprakash's cement facilities in the state of Gujarat have a combined cement capacity of 4.8Mta and will help UltraTech Cement, India’s larges...

Prosperity Minerals completes sale of TCC Liaoning Cement, China

27 August 2013, Published under Cement News

Prosperity Minerals has completed the sale of its 16.11 per cent stake in China-based TCC Liaoning Cement to TCC International Holdings. All the necessary approvals were obtained and the disposal was completed on 22 August 2013, Prosperity said. As per the agreement, around US$18.7m, or 80 per cent of the total consideration, has been paid to Prosperity and around US$3.5m will be paid to the company within five working days following completion. The balance will be retained by TCC I...

Bids for Cement Corp of India units invited

13 August 2013, Published under Cement News

SBI Capital Markets has invited global bids to sell state-run Cement Corp of India Ltd's four non-operating units through an e-auction process.     The company has put its 400,000tpa works in Akaltara (state of Chhattisgarh), and 198,000tpa plant at Kurkunta, (Karnataka), up for sale at a reserve price of INR1.83bn and INR2.6bn, respectively.     Its 380,000tpa Mandhar unit in Chhattisgarh and 400,000tpa Nayagaon unit in Madhya Pradesh have also been put up for sale, according to an a...

CRH to acquire Sree Jayajothi Cements, India

12 August 2013, Published under Cement News

CRH has announced that its 50:50 joint venture in India, My Home Industries Limited (MHIL) has reached an agreement to acquire 100 per cent of the shares of Sree Jayajothi Cements Limited (SJCL), a 3.2Mta cement company based in south India for INR14,000m (EUR175m). The investment will be financed from MHIL’s existing debt capacity and by equity inputs from the joint shareholders (EUR70m). CRH’s equity interest will amount to approximately EUR35m. With the addition of SJCL, MHIL b...

Acquisitions, improved markets drive Eagle's 1Q

08 August 2013, Published under Cement News

In the first quarter of its financial year to 31 March 2013, Eagle Materials' turnover, including its share of the Texas Lehigh cement joint venture, rose by 43.7 per cent to US$255.4m as the company was boosted by acquisitions and improving markets. Trading profit more than doubled (+108.9 per cent) to US$49.47m and after an interest charge 31.6 per cent higher at US$4.96m, the pre-tax profit advanced by 123.5 per cent to US$44.51m and the net attributable profit emerged 115.4 per cent ...

PPC buys controlling stake in Safika Cement

07 August 2013, Published under Cement News

PPC has entered into an agreement to purchase a controlling equity stake in Safika Cement Holdings, a blended-cement producer in South Africa. The company acquired the stake for a cash consideration of approximately ZAR350m (US$35.3m). Safika owns five blending facilities and one milling operation and produces blended 32.5N cement under three brands: IDM Best Build, Castle  and the Spar Build-It house brand.  Commenting on its latest acquisition, PPC chief executive officer said: "We are ...

HeidelbergCement mulls sale of non-core assets

07 August 2013, Published under Cement News

HeidelbergCement is considering the sale of non-core assets, its CEO Bernd Scheifele told local press in a recent interview. Speaking to the Boersen-Zeitung on Tuesday, Mr Scheifele said that markets such as Britain and the USA, where HeidelbergCement has non-core activities, are recovery and at the same time there is higher interest from private equity firms. The German cement major has implemented a number of measures to boost margins with price increases being a top priority.  Heidelb...