Cement News tagged under: Mergers and Acquisitions
Quinn and Lagan call off merger plans18 February 2013, Published under Cement NewsLagan and Quinn Building Products have abandoned plans for their proposed joint venture. Last December, the two companies announced that they had signed a memorandum of understanding which would combine their 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 were not included in this proposal. However, in a joint statement released on Friday, the two firms said... |
Lagan Group responds to threat over proposed merger15 February 2013, Published under Cement NewsThe Lagan Group has called in the Police Service of Northern Ireland (PSNI) to investigate the circumstances surrounding the receipt of a package containing a bullet which was addressed to the company’s Chief Executive, Kevin Lagan, the company said in a statement. Lagan Cement Group recently signed a memorandum of understanding with Quinn Building Products that may lead to a joint venture between the two groups which would combine their cement and building products businesses based in B... |
Temasek Holdings in line for Lafarge India stake?14 February 2013, Published under Cement NewsTemasek Holdings is reportedly among those shortlisted by Lafarge as a potential buyer for a minority stake in its Indian arm. Lafarge India plans to sell a 20-30 per cent stake to raise INR1325m (US$250m) to fund its INR6000 crore expansion, according to reports by the Economic Times (ET) of India. The sale of the stake is slated for completion by March. Lafarge has decided not to raise more debt to fund its capex but is instead looking at equity financing. Temasek Holdings is an inv... |
Eagle Materials trading profit almost trebles, USA07 February 2013, Published under Cement NewsEagle Materials' turnover, including its share of the Texan cement joint venture with HeidelbergCement, rose by 22.7 per cent to US$366.32m for the six months to the end of September and the trading profit virtually trebled to US$53.35m. After a net interest 20 per cent lower at US$7.31m, the pre-tax profit jumped by 424.5 per cent to US$46.04m. Net debt of US$243.9m at the end of September represented 48.6 per cent of shareholders' funds compared with 59.4 per cent a year earlier. Eagle ... |
UltraTech Cement in talks to buy ABG Cement plant, India05 February 2013, Published under Cement NewsIndia’s largest cement producer, UltraTech Cement, is in talks to purchase an incomplete 6.7Mta cement plant in Gujarat owned by the ABG Cement group, the Economic Times of India reports. “Executives of both UltraTech Cement and ABG had three rounds of negotiations,” a source told the local daily. According to the report, Axis Capital, the investment banking arm of Axis Bank, is advising UltraTech. “We had some discussions in the past," a senior ABG official said. "The company is ke... |
Cimpor and InterCement announce Brazil asset merger05 February 2013, Published under Cement NewsCimpor’s board of directors has approved the merger of two of its subsidiaries in Brazil, namely Cimpor Cimentos do Brasil and InterCement Brasil, Cimpor announced. Both companies are fully and indirectly owned by Cimpor, which itself is controlled by Brazil's Camargo Corrêa. The merger was approved on 30 January 2013. "The merger of these two companies in the Cimpor universe will make it possible to create joint value, promoting synergies, leading to improved operating efficiency and quali... |
Loesche acquires majority stake in aixprocess and aixergee, Germany01 February 2013, Published under Cement NewsLoesche announced it has acquired the majority of stakes in the aixprocess and aixergee engineering companies based in Aachen, Germany. aixergee GmbH is specialised in the optimisation of production processes in the cement industry and well-established internationally in the areas of alternative fuel firing, performance improvement, emissions reduction and stabilisation of plant operation. aixergee GmbH combines industry-specific knowledge with numerical computation methods customised to ... |
Huaxin to acquire stakes in two Hubei-based companies, China24 January 2013, Published under Cement NewsHuaxin 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, Turkey23 January 2013, Published under Cement NewsTurkish 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 sector15 January 2013, Published under Cement NewsIndia 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... |