Cement News tagged under: Mergers and Acquisitions

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Hai Van Cement to issue shares to finance acquisition, Vietnam

26 July 2013, Published under Cement News

Hai Van Cement JSC is to issue 21.46m shares in a move acquire Ang Son II Co the from Thang Loi Group Co. The volume will be sold to existing shareholders at VND10,000/shares at a 116-at-100 ratio, company said in a statement sent to the bourse. The proceeds, estimated at VND214.6bn (US$10.12m). Net profit jumps Hai Van Cement recently reported that it posted a net profit of VND10bn in the second quarter of 2013, up 279 per cent from a year ago. Revenues reached VND223.5bn in the th...

Holcim streamlines Indian operations

25 July 2013, Published under Cement News

Holcim is to increase its shareholding in Ambuja Cements as part of the Swiss major's strategy to restructure and streamline its operations in India. Through intragroup restructuring, Holcim will increase its shareholding in Ambuja Cements to 61.39 per cent and Ambuja in turn will acquire Holcim’s 50.01 per cent stake in ACC Ltd. Both Ambuja and ACC will continue to operate as separate entities with their own brands and go-to-market strategies. Holcim said the restructuring “will allow for...

Shriram Cement confirms talks on cement unit sale

23 July 2013, Published under Cement News

India-based producer Shriram Cement has confirmed that it is in talks with investors over the sale of its cement business. The statement came following news reports that CRH is to buy Shriram's cement unit through its Indian joint venture, My Home Industries. Shriram said it is in discussions with a couple of potential investors, including CRH, but that no decision has been finalised to-date.

Prosperity Minerals confirms merger offer, China

16 July 2013, Published under Cement News

Prosperity Minerals Holdings Ltd confirmed that it has received an initial approach from Prosperity International Holdings Ltd with a view to a possible offer being made for the company at a price no higher than 130 pence per ordinary Prosperity share. Prosperity International stated that it will, by not later than the 28th day following its announcement on 15 July either, confirm its intention to make an offer, or state that it does not intend to make an offer. Prosperity International hol...

Huaxin subsidiary to buy 20% of Shide Golden Eagle Cement, China

08 July 2013, Published under Cement News

Huaxin Cement announced that its wholly-owned subsidiary Huaxin (Hong Kong) International Holdings, has signed an agreement with Starry Cosmos Group Ltd to acquire a 20 per cent equity in the latter’s Shide Golden Eagle Cement (Hong Kong) Co. Shide Golden Eagle Cement (Hong Kong) owns 99.8 per cent equity in Enping Shide Golden Eagle Building Material Co. Enping Shide is constructing a 4000tpd new dry-process cement clinker production line. Huaxin Hong Kong will hold 65 per cent of Shide...

Dudman sells UK cement trading business

04 July 2013, Published under Cement News

The privately-owned Dudman is withdrawing from cement trading and has sold its four English cement terminals, in Sussex, Suffolk, Yorkshire and Merseyside and its one terminal at Montrose in Scotland to CRH.  This will take the number of Irish multinational's British marine terminals to seven, all of which will be supplied from either Ireland or from the Cementos Lemona works in Spain.  Dudman is keeping its five ready-mixed concrete batching plants in Sussex and Hampshire as well as ...

CCI approves sale of Lafarge India stake

03 July 2013, Published under Cement News

The Competition Commission of India (CCI) has cleared the proposed 14 per cent sale of Lafarge India Pvt Ltd to Baring Private Equity Asia. "The combination is not likely to have appreciable adverse effect on competition in India and therefore, the Commission hereby approves the combination under... the (Competition) Act," CCI said in its order dated June 26. In May Baring Private Equity Asia, through its wholly-owned subsidiary Paris Cement Investment Holdings, agreed to acquire a 14....

CRH: acquisition and investment update, Ireland

02 July 2013, Published under Cement News

Irish building materials major CRH plc announced it has undertaken 17 acquisition and investment initiatives during the first half of 2013. These transactions, together with the acquisition of Cementos Lemona in Spain (acquired as part of the Uniland asset swap announced in February) and net deferred consideration payments, bring development spend for the first half of 2013 to approximately €470m. Proceeds to date from divestments and disposals, including the Uniland swap, amount to approxim...

China: concentration is the key

02 July 2013, Published under Cement News

China Cement Association had drafted a plan to promote mergers and acquisitions (M&A) activity and step up the elimination of obsolete capacity to increase concentration of the domestic production base. According to the strategy entitled ‘Implementation Plan for Accelerating M&A in Cement Industry’, the number of cement enterprises in the country will witness a significant drop during the 12th Five-Year Plan period (2011-15) from the 2010 level, with no more than 1000 cement clinker units a...

India: Jaypee shelves Gujarat plant sale, eyes further expansion

21 June 2013, Published under Cement News

Jaypee Cement has decided to defer plans to sell its Gujarat unit and is now looking to expand capacity through acquisitions and the construction of new plants.  “We did not get the right valuation. So we have shelved plans for selling the Gujarat unit,” Ashutosh Kumar, Joint President (Marketing), Jaypee Cement told local press.  “We were in discussions with some parties. But, as of now we are comfortable in terms of cash position, Kumar said. According to local reports, India’s large...