Cement News tagged under: Mergers and Acquisitions
Prosperity Minerals completes sale of TCC Liaoning Cement, China27 August 2013, Published under Cement NewsProsperity 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 invited13 August 2013, Published under Cement NewsSBI 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, India12 August 2013, Published under Cement NewsCRH 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 1Q08 August 2013, Published under Cement NewsIn 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 Cement07 August 2013, Published under Cement NewsPPC 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 assets07 August 2013, Published under Cement NewsHeidelbergCement 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... |
Calderys announces Indonesian joint venture02 August 2013, Published under Cement NewsRefactory solutions specialists Calderys has signed a joint venture (JV) agreement with Indonesian refractory manufacturer PT Indoporlen. Calderys, a subsidiary of Imerys of France, has been a partner of PT Indoporlen during over 30 years of service to the cement, tin, nickel, steel, aluminium and fertiliser industries (with Calderys known prior to 2005 as Lafarge Refractories). The JV was signed with Calderys as the majority shareholder and PT Indoporlen’s founding Halim family as the le... |
Eurocement plans full ownership of Ahangaran Cement, Uzbekistan01 August 2013, Published under Cement NewsRussia-based Eurocement Holding AG is planning to increase its stake in Uzbekistan's second largest cement producer Ahangaran Cement up to 100 per cent. Currently, Eurocement Holding AG owns 83.9186 per cent or 4,136,269 shares in the company.???According to reports by Uzbekistan Daily, it now plans to acquire an additional 792,637 shares, or 16.0814 per cent stake in the company, Uzbekistan Daily reported. Should the deal proceed, Eurocement Holding AG will own 4,928,906 shares in Aha... |
Vinaconex to sell majority stake in Cam Pha Cement01 August 2013, Published under Cement NewsVietnam Construction and Import-Export Joint Stock Corporation (Vinaconex) is in talks to sell its 70 per cent stake in Cam Pha Cement. According to reports by Vietnam News Brief Service, the shares are to be sold to an overseas investor at below the par value of VND10,000/share but no lower than Cam Pha’s book value. Two foreign parties are said to be interested and are expected to put inject cash to restructure the cement producer’s debts. The deal is expected to be concluded this year. ... |
HeidelbergCement raises 2Q13 operating profit31 July 2013, Published under Cement NewsHeidelbergCement, the world’s third-largest cement producer, reported a second-quarter operating profit as it managed to increase prices in its main markets. A rise in demand in Asia, Africa and North America, helped offset a slowdown in parts of Europe. Sales increased by 0.5 per cent in the second quarter to €3799m as successful cement and aggregates price increases had a positive impact on revenue growth in key market regions. Operating income before depreciation (OIBD) improved by 5.6... |