Cement News tagged under: Mergers and Acquisitions

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Buzzi Unicem to lift stake in Dyckerhoff to 96.6%

27 November 2012, Published under Cement News

German cement producer Dyckerhoff AG said its parent company Buzzi Unicem SpA had agreed to buy additional ordinary and preferred shares in it, raising its total share capital in the firm by 3.6 per cent to 96.6 per cent. Dyckerhoff did not reveal the value of the transaction but specified that during the current year and including the most recent agreement Buzzi Unicem had bought shares in it for some EUR71.7m. As a shareholder of at least 95 per cent of Dyckerhoff, Buzzi Unicem is ent...

Metso strengthens position in China

27 November 2012, Published under Cement News

Metso is strengthening its presence in the fast growing Chinese construction market through two strategic actions: establishing a joint venture with LiuGong Group Corp and acquiring 75 per cent ownership of Shaorui Heavy Industries Ltd. Joint venture with LiuGong Group Corp Metso and LiuGong Group Corp. Ltd (LiuGong) will form a 50:50 joint venture to develop the track-mounted crushing and screening business in China. The joint venture will combine Metso's know-how in track-mounted cru...

Siam Cement on Vietnam acquisition trail

05 November 2012, Published under Cement News

Siam Cement PCL is looking for an opportunity to acquire a cement business in Vietnam, Chief Executive Kan Trakulhoon according to Dow Jones reports. Cement companies in Vietnam are currently struggling with excess supply and this provides an opportunity for Siam Cement to seek a potential acquisition there, Mr Kan told reporters on the sidelines of a symposium.

Eagle Material reports second quarter rise in earnings, USA

30 October 2012, Published under Cement News

Eagle Materials has reported continued growth in sales volumes and earnings in the second quarter as revenues rise 22 per cent to US$164.7m. Second quarter sales volumes improved across all major business lines and wallboard net sales prices increased 30 per cent as compared to the prior year's second quarter. Improved second quarter operating cash flow was used to fund capital expenditures, pay dividends and reduce debt which further strengthened our financial position. Eagle ended the qua...

Unacem net profit rises, Peru

23 October 2012, Published under Cement News

Union Andina de Cementos (Unacem) – which comprises the recently merged Cementos LIma and Cementos Andino –  reported a net profit to PEN70.3m (US$27m) compared with PEN42m in the same quarter in the previous year boosted by strong sales. Total third-quarter revenue was PEN326.4m compared with PEN266.3m in the same period a year earlier. The company said that cement production in the third quarter was 986,935t, up 13.2 per cent compared with the same quarter a year earlier. Cementos ...

Breedon Aggregates withdraws from Tarmac/Lafarge asset bid, UK

19 October 2012, Published under Cement News

Breedon Aggregates, the building materials group, said it has withdrawn from bidding to acquire assets being off-loaded by Lafarge and Tarmac. The two firms have been forced to sell by the Competition Commission before a construction materials joint venture can go forward. ??Earlier in October, Breedon submitted offers to the sellers' advisers for a number of the assets. "In the event, the group has been unable to meet the value expectations of the sellers in respect of the majority of...

Semen Gresik to issue US$150m global bonds next year, Indonesia

18 October 2012, Published under Cement News

PT Semen Gresik plans to issue US$150m of global bonds in 2013 to finance its plan to buy a smaller rival in Southeast Asia, Reuters reported the company’s CEO Dwi Sutjipto saying. He said earlier that the company plans to issue around US$500m of global bonds this year but the firm decided to delay the issuance. Sutjipto also said it plans to raise an additional IDR3-4trn (US$417.32m) via a combination of local currency bonds and commercial loans to fund its expansion plan, mainly in Myan...

JPMorgan acquires 2.41m H-shares in Conch Cement

18 October 2012, Published under Cement News

JPMorgan Chase & Co purchased 2.41 million H-shares in Anhui Conch Cement Co Ltd, a major cement producer in China, at HK$ 24.28 per share, a total value of HK$ 58.62 million, media reported, citing information released by the Hong Kong Stock Exchange. After the purchase, JPMorgan will hold 197.21 million shares (or a 15.18% stake) in Conch Cement. (Source: China Business Newswire)

Aditya Birla resumes talks with Jaypee over cement assets – report

17 October 2012, Published under Cement News

The Aditya Birla Group has restarted negotiations with Jaikprakash Associate’s to buy out its Jaypee Cement Corp plants in Gujarat and Andhra Pradesh, the Economic Times (ET) of India reports. Birla is understood to have made an offer of up to US$130/t to acquire cement assets with a total capacity of 9.8Mt, two sources close to the negotiations said. Talks between the two companies fell through in July this year due to differences over valuations, the ET noted. Last week, CRH said neg...

Steppe Cement CEO raises stake in the company, Kazakhstan

17 October 2012, Published under Cement News

Javier Del Ser, the CEO of Steppe Cement, increased his stake in the firm on Tuesday with the purchase of 650,000 ordinary shares at a price of 25p per share, according to reports by ShareCast. Following the GBP162,500 transaction, Del Ser holds 12,867,660 ordinary shares in the company, equal to 7.19 per cent of the total issued share capital, Steppe is a leading cement producer in Kazakhstan. Its cement production facilities consist of four wet kilns and one dry process kiln. Del Ser...