Cement News tagged under: Mergers and Acquisitions

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Holcim sells stake in power generation subsidiary, Philippines

04 January 2013, Published under Cement News

Trans-Asia Oil and Energy Development Corp (TA Oil) has acquired the stake of partner Holcim Philippines Inc in a power plant in Bulacan province. In a disclosure to the Philippine Stock Exchange, TA Oil said that it "signed a share purchase agreement for the purchase by Trans-Asia of Holcim's 50 per cent stake in Trans-Asia Power Generation Corporation." The deal gives Trans-Asia full ownership of the power firm. Prior to the conclusion of this transaction, Holcim was in a joint ventu...

CRH 's development spend reaches almost €630m in 2012

03 January 2013, Published under Cement News

In an update on its spending for the second half of the year, CRH said it had agreed 18 acquisition and investment initiatives of €375m. The transactions completed since the end of June bring full year 2012 development activity for the group to almost €630m. During the six month period, CRH said its Americas division agreed 12 deals worth a total of €256m. This included a majority stake in New Jersey's Trap Rock Industries and and also completed five other bolt-on transactions during the pe...

Concretus Materials to buy majority stake in Akmenes Cementas, Lithuania

02 January 2013, Published under Cement News

Concretus Materials is to acquire a 51 per cent stake in Lithuania’s sole cement producer Akmenes Cementas. The company applied to the Lithuanian Competition Council on 27 December for approval of the deal. Cemex currently owns a 33.95 per cent stake while other shareholders include Simonas Vytis Anuzis (13.67 per cent share), Olius Danyla (13.55 per cent), Arnoldas Mituzas (12.76 per cent) and Edmundas Montvila (9.8 per cent). Akmenes is currently implementing its largest-ever modern...

SOCAM to exit Lafarge joint venture by 2015, China

02 January 2013, Published under Cement News

SOCAM DEV announced that the shareholders of Lafarge Shui On Cement Ltd, in which it has a 45 per cent interest, have agreed on a plan to facilitate the exist of the group from this joint venture. It is expected that the agreed roadmap will enable an exit no later than 2015.

Holcim reduces stake in Siam City Cement, sells minority shareholding in Cementos Progreso

21 December 2012, Published under Cement News

Holcim has announced that it has reduced its stake in Siam City Cement Ltd (SCCC) of Thailand and has sold its minority shareholding in Guatemalan producer Cementos Progreso, contributing CHF375m (EUR310.6m) to the Holcim Leadership Journey programme. SCCC stake reduced Holcim Ltd has reduced its shareholding in SCCC from 36.8 per cent to 27.5 per cent. The shares have been purchased by Bangkok Broadcasting and Television Co, part of the Ratanarak Group, which will increase its shareho...

Lafarge looking to sell stake in Indian operations?

21 December 2012, Published under Cement News

Private equity funds are in talks to buy a minority stake in Lafarge India as the cement company taps new ways to fund its expansion, the Economic Times of India reports. Carlyle, KKR, Temasek and TPG Capital have begun preliminary talks with Lafarge India management, two sources close to the transaction said. Some of them have also signed non-disclosure agreements. Lafarge wants to shed up to a 20 per cent stake to fund expansion plans worth about INR6000 crore, the ET reported. " Lafar...

Quinn and Lagan Cement propose merger

20 December 2012, Published under Cement News

Ireland-based Quinn Building Products and the Lagan Cement Group have signed a memorandum of understanding that may lead to a merger of the two groups. The businesses, which will become part of the proposed joint venture, are the combined cement and building products businesses based in Ballyconnell, Derrylin, Kinnegad, Belfast, Cork in Ireland and Benelux. Quinn Therm, Quinn Litepac, Quinn Tarmac and Lagan Sand are not included in this proposal. Commenting on the proposed JV, the CE...

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...