Cement News tagged under: Mergers and Acquisitions
Unacem net profit rises, Peru23 October 2012, Published under Cement NewsUnion 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asset bid, UK19 October 2012, Published under Cement NewsBreedon Aggregates, the building materials group, said it has withdrawn from bidding to acquire assets being off-loaded by Lafarge and Tarmac.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, Indonesia18 October 2012, Published under Cement NewsPT 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$417.32m) via a combination of local currency bonds and commercial loans to fund its expansion plan, mainly in Myan... |
JPMorgan acquires 2.41m H-shares in Conch Cement18 October 2012, Published under Cement NewsJPMorgan Chase & Co purchased 2.41 million H-shares in Anhui Conch Cement Co Ltd, a major cement producer in China, at HK$ 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 – report17 October 2012, Published under Cement NewsThe 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, Kazakhstan17 October 2012, Published under Cement NewsJavier 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... |
Cemex interested in investing in INC15 October 2012, Published under Cement NewsIndustria Nacional de Cemento, has reported that Mexican cement giant Cemex has expressed an interest in investing in the Paraguayan state-owned producer. According to INC’s head, Carlos Krüssel, Cemex would transfer its technology to and possibly invest in INC. Mr Krüssel just completed a visit to a Cemex plant in Mexico to learn about Cemex’s plants and their experience in the provision of services and other products such as precast concrete. INC plans to expand its range of services a... |
ArcelorMittal chief to bid for Lafarge/Tarmac assets, UK - report10 October 2012, Published under Cement NewsChairman and CEO of global steel giant ArcelorMittal, Laskshmi Mittal, is reportedly bidding for assets put up for sale by Anglo American and Lafarge UK, according to reports by Sky News. Mr Mittal, whose wealth was estimated at £12.7bn, is said to be bidding for the assets which have been ordered to be sold by the UK’s Competition Commission as a pre-condition for the completion of the Tarmac (Anglo’s UK business) and Lafarge UK merger. In a statement in May, the Competition Commissio... |
CRH announces termination of negotiations in India10 October 2012, Published under Cement NewsCRH plc announced that it has terminated negotiations with Indian cement producer Jaypee Cement Corporation (Jaypee) regarding the possible purchase by CRH of an equity stake in Jaypee’s Gujarat cement business. CRH said these negotiations were terminated as the parties were unable to agree terms. The Irish-based building materials major said that it acknowledges the co-operation of the Jaypee management team throughout the negotiations and due diligence process. CRH confirmed back in A... |
Seacem in voluntary buy back offer, Philippines09 October 2012, Published under Cement NewsSoutheast Asia Cement Holdings Inc (Seacem) is launching a voluntary tender offer to buy back up to 93 percent of its shares in exchange for a mix of shares in its majority-owned subsidiary Lafarge Republic Inc. (LRI) and cash. Based on its disclosure to the Philippine Stock Exchange (PSE) on Monday, the board of Seacem approved the buyback of a total of 989.34 million shares in exchange for Seacem’s shares in LRI at an exchange ratio of 3.73 Seacem shares for every one LRI common shar... |