Cement News tagged under: Mergers and Acquisitions

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InterCement sells 52 per cent in Portuguese C+PA to Votorantim

29 April 2013, Published under Cement News

Brazilian producer InterCement has sold a 52 per cent stake in Portuguese cement and building materials maker C+PA to Votorantim. Portuguese construction group Teixeira Duarte still controls 48 per cent in C+PA, , according to Portuguese daily Diario Economico. InterCement, part of Brazilian diversified holding group Camargo Correa, indirectly controls the stake in C+PA via Portuguese cement producer Cimpor. Cimpor recognised impairments of EUR33.6m with the transaction.

Lafarge sells Ukraine cement plant to CRH

26 April 2013, Published under Cement News

Lafarge is to sell its cement activities in Ukraine to CRH plc for an enterprise value of EUR96m. Lafarge, through its subsidiary Mykolaivtsement, operates a 1.3Mta integrated wet-process works at Mikolaiv in western Ukraine, near Lviv and has a domestic market share of around 12 per cent. The transaction, which is expected to close before year-end, is subject to relevant Ukrainian authorities' approval.   Lafarge will remain present in Ukraine through three aggregates quarries serving ...

Mustehkam Cement and Bestway Cement to merge, Pakistan

24 April 2013, Published under Cement News

Two Pakistan-based cement producers, Mustehkam Cement and Bestway Cement, have informed the Karachi Stock Exchange (KSE) of their intention to merge and operate as a single company. The board of directors of both companies are scheduled to meet on 6 May to approve the amalgamation. Mustehkam Cement has been a subsidiary of Bestway Cement (and part of the Bestway Group) since in 1995. Therefore, the main objective of the merger is to operate the businesses under one management to achieve e...

UltraTech in talks with JP Associates for Gujarat assets, India

24 April 2013, Published under Cement News

UltraTech Cement is reportedly closing in on a deal to acquire the cement assets of Jaiprakash Associates in the state of Gujarat, India, according to local press reports. "The deal is expected to be sealed before May. The valuation and other critical aspects, such as the indemnity amount, are more or less finalised. We are waiting for one more approval," reported The Economic Times quoting two persons with direct knowledge of the development. The report added that the sale of the cement...

Sale of Akmenes Cementas shares blocked by anti-trust regulator

24 April 2013, Published under Cement News

Lithuania’s Competition Council has blocked the sale of a 51 per cent stake in Akmenes Cementas to Concretus Materials, part of the Betoneta Group. The regulator concluded on Monday that the market share, which the potential buyer would obtain after the takeover, would be too large. Shortly after the announcement, Concretus Materials withdrew its request for approval and cancelled the offer. Akmenes Cementas is Lithuania’s sole cement producer and operates a plant with a 1.35Mta cl...

HeidelbergCement increases holding in Russian cement company

19 April 2013, Published under Cement News

HeidelbergCement has increased its holding in the Russian cement company CJSC “Construction Materials” from 51 per cent to 100 per cent. The parties have agreed not to disclose the purchase price. The purchase of the stake is included in the HeidelbergCement capital expenditure plan. CJSC “Construction Materials”, located in Sterlitamak, is the market leader in the Russian republic of Bashkortostan and one of the leading cement producers in the Wolga area with about 760 employees. The ...

Jaiprakash in new attempt to sell Gujarat assets, India

17 April 2013, Published under Cement News

Jaiprakash Associates is reportedly planning to sell its Gujarat-based cement units within a few weeks in an effort to reduce debt. According to reports by the Business Standard of India, the Gujarat cement assets are expected to be sold for INR4000 crore. Earlier, the group was in talks with the Birlas to sell the cement units, however, as its expected valuation of US$170/t was deemed too high, it failed to secure the deal. Sources say the sale is now likely to be carried out at US$150/t....

Vinaconex plans to sell stake in Cam Pha Cement, Vietnam

12 April 2013, Published under Cement News

Vietnam Construction and Import-Export JSC (Vinaconex), plans to sell a 70 per cent stake in Cam Pha Cement JSC as it continues with its plan to divest in non-core operations. Vinaconex is seeking shareholders approval to sell the shares to foreign partners at below the par value of VND10,000 each, but not lower than Cam Pha’s book value. According to local press reports, two companies have expressed an interest in buying shares in Cam Pha Cement. Last year, the company posted a loss o...

Sinoma makes Indian acquisition

12 April 2013, Published under Cement News

Sinoma International Engineering (Hong Kong) Co Ltd, part of China National Materials Group Corporation Ltd, has acquired a majority stake in India-based cement equipment manufacturer LNV Technology Pvt Ltd. According to the agreement, Sinoma International Engineering has purchased a 68 per cent share in LNV Technology while joint venture partners Mr VC Rao, managing director of the Chennai-based firm and LV Technology Public Co Ltd, hold around a 16 per cent equity share each in the comp...

Votorantim Cimentos sees gains in Brazil, USA

03 April 2013, Published under Cement News

Votorantim Cimentos’ turnover was nine per cent higher at BRL9800m (US$4.85bn) in 2012 and the EBITDA improved by around 11 per cent to BRL3200m.  In Brazil, both volumes and prices were up by four per cent, while in North America volumes improved by 17 per cent and prices by 12 per cent.  "The combination of a favorable market alongside the opening of new factories and mills allowed a four per cent increase in sales volume in Brazil, reaching 24Mt. The average price of cement rose fou...