Cement News tagged under: Mergers and Acquisitions

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Huaxin to acquire stakes in two Hubei-based companies, China

24 January 2013, Published under Cement News

Huaxin Cement is continuing its acquisitions policy by announcing it plans to acquire stakes in two companies based in Hubei province. The Chinese producer is set to buy a 70 per cent share in two separate companies for a combined price of CNY519m (US$83.4m). Huaxin Cement said that the acquisition will increase its competitiveness in the local cement market. Huaxin Cement is 41.6 per cent controlled by Swiss cement major Holcim.

Sabanci Holdings on the cement acquisition trail, Turkey

23 January 2013, Published under Cement News

Turkish industrial group Sabanci Holdings is reportedly on the acquisition trail both at home and abroad as it seeks to double its capacity in five years. The group is currently active in the Turkish market through Akcansa (which is a joint venture with HeidelbergCement) and Cimsa with a combined domestic cement capacity of 13Mta. Speaking to Bloomberg, Mehmet Gocmen, head of Sabanci’s cement group said the company is planning growth through deals in Turkey and nearby countries as Turk...

India Ratings revises outlook on cement sector

15 January 2013, Published under Cement News

India Ratings has revised its outlook for Indian cement manufacturers from "negative" in 2012 to "stable to negative" for 2013, driven by limited downside risk for demand. The ratings agency also expects consolidation in the medium-to-long-term with large M&A activities, according to a report. "We expect consolidation in cement industry in the medium-to-long-term with large M&A activities in the sector," the rating agency said. The agency expects credit profiles of large cement firms...

Siam Cement in talks for European acquisitions

15 January 2013, Published under Cement News

Siam Cement is in talks to buy building materials, petrochemical business in Europe, according to its chief executive Kan Trakulhoon. Mr Trakulhoon told reporters that the company would invest about THB200bn (US$6.6bn) in five years from 2013, mainly in ASEAN countries. At least one fifth of that amount (THB40bn) will be spent in 2013, he added. Mr Trakulhoon, however, did not specify which companies Siam Cement will target.

Lafarge announces joint venture with Elementia, Mexico

09 January 2013, Published under Cement News

Lafarge announces it has reached an agreement with Elementia to combine their cement assets in Mexico. Lafarge will bring its two plants of Vito and Tula for a total capacity close to 1Mta, while Elementia will contribute the new 1Mta plant it is currently building in central Mexico. This combination will significantly strengthen Lafarge's position in Mexico. The transaction, which involves no cash and is subject to regulatory approvals, is expected to close in 2H13, pursuant to the start...

PT Semen Gresik officially changes name, Semen Kupang takeover recommended

09 January 2013, Published under Cement News

PT Semen Gresik has officially changed its name to PT Semen Indonesia and is being urged by the government to take majority ownership of state-owned cement producer Semen Kupang, The company’s corporate name change to PT Semen Indonesia was officially marked during an inauguration ceremony in the presence of State-owned Enterprises Minister Dahlan Iskan and attended by PT Semen Indonesia vice president Dwi Soetjipto. “We must become a regional champion. This company should become In...

Lafarge & Anglo America announce completion of joint venture

08 January 2013, Published under Cement News

Lafarge and Anglo American announce the completion of their 50:50 joint venture which combines their cement, aggregates, ready-mix concrete, asphalt and asphalt surfacing, maintenance services, and waste services businesses in the United Kingdom. The joint venture will be known as Lafarge Tarmac and begins trading today. Completion of the Lafarge Tarmac joint venture follows final clearance from the UK Competition Commission, predicated on the completed sale of a portfolio of Tarmac and L...

ABG looks to sell minority stake in cement unit, India

08 January 2013, Published under Cement News

India-based private sector ship builder ABG Group, is in talks to offload a minority stake in its cement business, a senior executive has told the Times of India. The cement business, which operates under ABG Cement, has a 6.5Mta cement plant in Kutch, Gujarat, which is expected to be commissioned in a few weeks. Dhananjay L Datar, director of ABG Group, said the potential deal is at a preliminary stage with several parties showing an interest in the unit. Sources familiar with the...

Chettinad Cement seeks shareholders’ approval for delisting, India

07 January 2013, Published under Cement News

India-based cement producer Chettinad Cement Corporation has begun seeking shareholders approval to delist from the three Indian stock exchanges on which it trades.  The company is listed on the National Stock Exchange (NSE), Madras Stock Exchange (MSE) and Bombay Stock Exchange (BSE). Promoter group company Chettinad Holdings Pvt plans to acquire 11.56 per cent of the equity to take full ownership of the company, according to a statement by the company to the BSE. The promoter current...

CRH – acquisition key to growth

07 January 2013, Published under Cement News

A development spending update released yesterday by CRH shows that growth through vertical integration continued to be a key strategy for the Irish building materials major through 2012. But with spending still subdued compared to 2006 peaks levels, will 2013 see the company step up its acquisition activity and which markets offer the potential for takeover opportunities? In its twice-yearly development statement, CRH said it closed 2012 with acquisitions and investments reaching almost EU...