Cement News tagged under: Mergers and Acquisitions

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Tangshan Jidong Cement majority shareholder increases stake, China

30 August 2012, Published under Cement News

Tangshan Jidong Cement announced that its controlling shareholder, Jidong Development Group Co Ltd, has acquired a combined 14.01m shares, ore a 1.04 per cent stake in the company between 11 July 2012 and 28 August 2012. As of 28 August, the controlling shareholder holds 526m shares, or a 38.32 per cent stake in Jidong, according to reports from China Business Newswire. Tangshan Jidong Cement is based in the Hebei province of China.

Citi Venture Capital International interested in Shriram Group investment

28 August 2012, Published under Cement News

Citi Venture Capital International (CVCI) is reportedly holding talks to invest INR400crore in the cement unit of southern conglomerate Shriram Group, according to reports in the Times of India. The Shriram Group initiated the process to sell a stake in Sree Jayajothi Cement which it had previously acquired a 70 per cent stake in earlier this year following the conversion of loans into equity. Private equity companies like Blackstone, Kohlberg Kravis Roberts & Co and Mount Kellet, had shown...

FLSmidth acquires Decanter Machine, USA

16 August 2012, Published under Cement News

FLSmidth has today signed an agreement to acquire the privately owned company Decanter Machine, Inc, a United States based manufacturer and supplier of centrifugal technology to the global minerals industries. The transaction is subject to rezoning of a portion of real estate which is expected to occur in September. The parties have agreed not to disclose the value of the transaction.   Decanter is recognised as the global leader in the manufacture of screen bowl, solid bowl and hyperbaric c...

Independents struggle under southern excess capacity, India

09 August 2012, Published under Cement News

Two years of flat growth in south India has pushed independent cement firms to seek buyers, according to a report in the Times of India.  After news of Sree Jayajothi Cements looking for buyers, the paper has learnt that the promoter of Bhavya Cements is also scouting for suitors. South India is reeling under excess capacity and cement manufacturers are operating their plants at only 70-75 per cent of the rated capacity. With growth in lower single digits, the promoter of Bhavya Cements, ...

CRH confirms Jaiprakash talks for Gujarat unit

08 August 2012, Published under Cement News

CRH plc announces that it has entered negotiations with Jaypee Cement Corporation (Jaypee) that may lead to the purchase by CRH of an equity stake in Jaypee’s Gujarat cement business.   The Gujarat operation under consideration consists of a 3.6Mt clinker plant at Kutch, in western Gujarat, with 2.4Mt of cement grinding capacity and a further grinding plant in eastern Gujarat with capacity to produce 2.4Mta. The completion of any transaction would be subject to satisfactory due diligen...

CRH closing in on Jaiprakash cement stake - report

06 August 2012, Published under Cement News

CRH is reported close to picking up 51 per cent stake in Jaiprakash Associates' cement operations in Gujarat at an enterprise value of about INR4200 crore, the Economic Times of India has cited two persons familiar with the development as saying. The enterprise value of Jaypee Cement Corp, which has two cement plants in Sewagram and Wanakbori-each having a capacity of 2.4Mt, includes debt of about INR1800 crore. The deal will help Jaiprakash Associates pare its debt by about INR1800 crore...

South Africa's PPC invests in Ethiopian cement firm

26 July 2012, Published under Cement News

South Africa's Pretoria Portland Cement and a state investment body South Africa’s Industrial Development Corporation (IDC) have jointly secured a 47 per cent equity stake in the Habesha Cement Share Company (HCSCo) of Ethiopia. PPC’s US$12m cash investment secures 27 per cent in HCSCo and is a significant step in PPC’s African expansion strategy. This is PPC’s first investment into the Ethiopian and east African cement market. The IDC will simultaneously invest US$9m for a 20 per cent stak...

Cementos Lima and Cementos Andino to merge, Peru

26 July 2012, Published under Cement News

Peruvian cement producers Cementos Lima and Cemento Andino are to merge into a single company, the company’s said in a joint statement. Shareholders from both producers on Tuesday approved plans for the merger which will create a new company under the name of Union Andina de Cementos SAA on 1 October, the statement to Peru’s securities regulator said. The companies said the merger will reduce costs while also improving liquidity, profits and financial strength. "The main objective of t...

India: mergers and acquisitions ahead?

23 July 2012, Published under Cement News

CRH has reportedly emerged as the latest company to enter the foray for a stake in Jaiprakash Associates' cement units in the Indian states of Gujarat and Andhra Pradesh, which could pave the way for the Irish building materials major to increase its presence in a country teeming with long-term potential. Elsewhere, the recent ruling by India's antitrust body on local cement producers could aid increased consolidation in the fragmented Indian cement sector.   Earlier last month, Jaiprakash ...