Cement News tagged under: Mergers and Acquisitions

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Chryso acquires Chemtec Admixtures in Ireland

04 October 2018, Published under Cement News

Chryso has announced that it has expanded its admixture business in Ireland with the acquisition of Chemtec Admixtures Ltd, which will provide a unique offering on the growing construction market in the country, according to a press release. Chemtec Admixtures has operated as the exclusive distributor of the company for over 13 years in Ireland, providing admixtures for concrete, demoulding oils and waterproofing agents, mainly to precast manufacturers. "The acquisition of Chemtec Admixtur...

UltraTech receives approval to acquire cement business

22 August 2018, Published under Cement News

UltraTech has announced that it received approval from the Competition Commission of India (CCI) to acquire the cement business of Century Textiles and Industries. UltraTech is expected to acquire the cement business through a share swap deal to consolidate its position as a market leader. Century Textiles has three integrated facilities with a total capacity of 11.4Mta and a 2Mta grinding unit.

RHI Magnesita announces Indian merger

03 August 2018, Published under Cement News

RHI Magnesita has announced a merger between its three companies in India, Orient Refractories, RHI India and RHI Clasil. Upon completion, the move will consolidate the group’s position in the Indian market to allow it to tap into its growth potential more effectively, according to a press release. While subject to regulatory approval, the merger is expected to be completed within the next 9-12 months. The combined company expects an operating revenue of INR12,356m (US$182.23m) on a profor...

UltraTech Cement

25 July 2018, Published under Cement News

In the quarter ended 30 June 2018, UltraTech Cement saw its net sales advance to INR88.41bn (US$1286m), up 27 per cent on the corresponding quarter a year earlier. Profit before interest depreciation and tax fell over the same period from INR17.98bn to INR17.63bn. Sales volume grew by 34 per cent and, despite a hike in fuel prices, the company recorded an operating EBITDA of INR929/t, compared to INR922/t in the same quarter a year ago.  The three-month period also saw the company approve...

Shree Cement acquires 98% stake in UCC

12 July 2018, Published under Cement News

Shree Cement has completed the acquisition of a 97.6 per cent stake in the UAE’s Union Cement Co (UCC). The deal was struck through the company’s wholly-owned subsidiary, Shree International Holdings, incorporated in the UAE. The acquisition was managed by Ras Al Khaimah’s Investment and Development Office (IDO) on behalf of the government, according to an official statement. "The acquisition of UCC manifests Shree’s strategy to expand overseas, taking the UAE as a launch pad for more inv...

Martin Marietta acquires CRH America's divested asset

04 July 2018, Published under Cement News

US-based Martin Marietta Materials has acquired CRH America’s Mallard Sand & Gravel business, which will add approximately 30Mt of aggregates to the company’s reserves. CRH was required to divest these assets as part of its acquisition of Ash Grove Cement Co. Furthermore, Martin Marietta has sold two aggregate quarries to resolve competition issues with respect to its recent acquisition of Bluegrass Materials Co, according to AggNet. "We’re pleased to conclude the DoJ’s Hart-Scott-Rod...

Empire builder

02 July 2018, Published under Cement News

In this exclusive interview with ICR, Thomas Schmidheiny (72), major shareholder and Honorary Chairman of LafargeHolcim, traces the origins of the company from its single plant in the village of Holderbank (Aargau) in 1912 to the leading global construction materials company that it is today. Dr Schmidheiny was responsible for leading Holcim through its most remarkable growth period, culminating in the merger with Lafarge in 2015. Having led the company since 1978, through the most dy...

CRH announces completion of Ash Grove acquisition

21 June 2018, Published under Cement News

CHR has now completed the acquisition of Ash Grove Cement Co. The Irish building materials producer announced on 21 September 2017  it reached an agreement to acquire the Kansas-based cement company for US$3.5bn. The US Federal Trade Commission issued its consent order for the deal on 15 June 2018.

Belarusian government ready to sell Krasnoselskstroymaterialy

18 June 2018, Published under Cement News

The Belarusian government is ready to sell Krasnoselskstroymaterialy to CRH for approximately US$200m, according to Deputy Prime Minister, Anatol Kalinin. "The investor does not want to buy the entire stake although we are offering it to purchase 100 per cent of its shares," he said, adding that the sides continued their talks and were bringing their positions closer together. The government is determined to carry out a targeted privatisation, said Mr Kalinin. The cement manufacturer has...

CRH receives approval to acquire Ash Grove Cement

15 June 2018, Published under Cement News

CRH Plc has received regulatory approval to acquire Ash Grove Cement Co. The US Federal Trade Commission has issued its consent order, with the US$3.5bn transaction expected to close in June 2018. CRH has agreed to divest assets to secure antitrust approval for the deal. As a result, the company will sell a cement plant and quarry in Montana, sand and gravel pits in Nebraska and four facilities (two limestone quarries and two asphalt plants) in Kansas, according to Reuters.