Cement News tagged under: Mergers and Acquisitions

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Semen Gresik seals Vietnam deal

20 December 2012, Published under Cement News

Indonesia’s leading cement producer PT Semen Gresik has signed deal worth US$157m with Hanoi General Export-Import JSC (Geleximco) on 18 December to acquire 70 per cent stake in Thang Long Cement JSC. Under the agreement, first reported in mid-November, Semen Gresik will become a strategic shareholder of Thang Long Cement JSC, a joint venture between the state-run Vietnam Machinery Installation Group (Lilama) and Geleximco, local press reported on Wednesday. Thang Long Cement has a cem...

Taiheiyo's China subsidiary announces new joint venture

17 December 2012, Published under Cement News

Japan's leading cement producer Taiheiyo Cement Corp announced that its Chinese sub sidiary Taiheiyo Cement (China) Investment Corp, has signed a joint venture agreement with Xinjian Tianye (Group) Co in Beijing. Both companies agreed to establish the new venture named Xinjiang Tianye Taihieyo Building Material Co (TTBM) in Xingjiang Uygur Autonomous Prefecture in northwest China. TTBM will produce OPC, blended cement and special cement, such as moderate heat cement. TTBM will utilise quick...

PPC buys majority stake in Rwanda cement producer

13 December 2012, Published under Cement News

South Africa’s leading cement producer Pretoria Portland Cement (PPC) has acquired a 51 per cent equity stake in Rwanda-based cement producer Cimerwa Ltd. The deal is worth a total cash consideration of US$69.4m. Cimerwa is situated in southwestern Rwanda and is the African country’s sole cement producer. It has a current capacity of 100,000tpa and is constructing a 600,000tpa expansion that will be commissioned in 2014. In addition to shareholder equity contributions‚ Cimerwa is in t...

Lafarge looking to sell South Korean unit

12 December 2012, Published under Cement News

Lafarge is seeking to sell its majority stake in South Korean unit Lafarge Halla Cement for KRW700bn (US$650m) and is currently searching for buyers, according to a report by Reuters citing South Korean online media Edaily. The company is said to have chosen US-based Lazard and HSBC’s South Korean unit as managers for the sale. Lafarge operates one integrated cement works and two grinding plants in South Korea with a combined cement capacity of 9.6Mta. In 2011, it had an approximate ma...

Jaypee/Aditya Birla talks advance, India

10 December 2012, Published under Cement News

Talks between the Jaypee Group for its sale of its Gujarat based cement units to Aditya Birla have moved into the final stages, according to local media reports, adding that valuations of the deal have continued to put hurdles in the way of the deal. Reports that the Birla group have been negotiating for the price Jaypee Gujarat cement units and if the deal proceeds they may end up paying around US$800m. It said that the Birlas have offered US$160/t of capacity, much lower than the US$200/t...

Jaiprakash may not meet asset sale target – Kim Eng

05 December 2012, Published under Cement News

Jaiprakash Associates may not meet its target of raising INR50bn via a sale of its plants in Gujarat and Andhra Pradesh states, according to analysis by Asian securities and investment broker Kim Eng. Jaiprakash on Monday said buyers are showing interest in its Gujarat plant only and not its Andhra Pradesh plant. It also denied media reports that said it had sold its 5Mt capacity Gujarat cement plant to UltraTech Cement at a valuation of US$180/t. The company however says that it is sti...

Dalmia Cement buys additional stake in Calcom

04 December 2012, Published under Cement News

Dalmia Bharat Enterprises has informed the Bombay Stock Exchange that its subsidiary, Dalmia Cement (Bharat) has approved acquisition of additional 26 per cent stake in Calcom Cement for a consideration of INR77.16 crore. A share purchase agreement to this effect was signed on Friday. This consideration will be paid in multiple tranches and will be subject to the adjustments and other terms and conditions set out in the definitive agreements.

Adelaide Brighton acquires 30% in Malaysian white cement producer

03 December 2012, Published under Cement News

Adelaide Brighton Limited has entered into an agreement to acquire 30 per cent of white cement producer Aalborg Portland Malaysia Sdn Bhd (APM). The acquisition price for the 30 per cent equity stake in APM is US$29.7m including US$2.3m for 30 per cent of the net cash on hand, plus transaction costs of about US$0.4m. Completion is expected on 5 December 2012. APM's facility is situated in Ipoh, on the west coast of the Malaysian Peninsula, approximately 180km north of Kuala Lumpur. It ...

UltraTech Cement eyes Jaypee's Gujarat operations

03 December 2012, Published under Cement News

India's largest cement producer UltraTech Cement is understood to be in talks with Jaypee Group for the latter's business in Ahmedabad, Gujarat. Local press have reported that the deal is valued at around US$700-890m and is likely to close by year-end. Jaypee's Gujarat operations have a capacity of 4.8Mta. The company also has cement assets in Andhra Pradesh. The proceeds received by Jaypee would be used in part to meet capacity expansion and retire debt. CRH had also been in negotiati...

Gresik sees output rising 18% next year, Indonesia

29 November 2012, Published under Cement News

Indonesia’s leading cement producer PT Semen Gresik expects cement production to increase by 18 per cent next year, however, it has hinted that domestic sales growth could slow next year compared to the robust figures expected in 2012. The company’s president director Dwi Soetjipto said the company’s production growth could rise to 26Mt in 2013 from output of about 22Mt in 2012. In the first 10 months of 2012, the Gresik group sold 18.13Mt, an increase of 13.6 per cent compared to 15....