Cement News tagged under: Mergers and Acquisitions

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Karsdorf Cement plant sale to be abandoned

20 November 2017, Published under Cement News

Schwenk KG has abandoned its plans to acquire Opterra’s cement plant in Karsdorf, according to a press release by the Bundeskartellamt (Federal Cartel Office - FCO). The withdrawal of the notification also includes the purchase of the cement plant in Sötenich. "The merger was expected to significantly impede effective competition and would have had to be prohibited. With the acquisition of the plant in Karsdorf Schwenk would have gained a dominant position as a cement manufacturer in the ...

CRH

01 November 2017, Published under Cement News

The shareholders of Ash Grove Cement have now approved the take-over by CRH, adding eight cement works, 52 batching plants and 45 aggregates extraction sites. The potential alternative offer for Ash Grove suggested by Summit Materials did not occur.

PPC

01 November 2017, Published under Cement News

October has seen the saga over PPC’s future continue to dominate the headlines. Last month saw AfriSam submit a merger deal, backed by Toronto-based Fairfax Financial Holdings. However, Prudential Investment Managers, which holds a 13-14 per cent stake in PPC, opposed the merger saying that the AfriSam deal undervalued PPC and that PPC’s share price would double in the next 3-4 years as operations across Africa ramp up. Visio Capital Management, which has a seven per cent share in PPC, th...

China National Building Materials (CNBM)

01 November 2017, Published under Cement News

China National Building Materials Group (CNBM) is in talks to integrate some of its 15 subsidiaries. The move follows the announcement in September this year of the merger between CNBM and China National Materials Group, another state-owned building materials player, also known as Sinoma. Of the 15 subsidiaries in question, three are listed overseas. T he aim of the merger is to consolidate and strengthen the core business of each subsidiary, boosting profitability and maximising their va...

Dangote Cement group increases revenues by 37% in 9M17

20 October 2017, Published under Cement News

Dangote Cement’s overall group revenue increased by 36.5 per cent from NGN442.1bn (US$1.08bn) in the first 9M16 to NGN603.6bn in 9M2017, despite a 10.1 per cent fall in group cement volumes to 16.5Mt, as the impact of price increases dampened demand in Nigeria. The group’s profit for the period was NGN193.1bn, up 44.6 per cent compared to NGN133.5bn in 2016. “Dangote Cement has continued to perform strongly in 2017 with revenues up nearly 37 per cent despite a fall in volumes. In our key ...

PPC is a new target for CRH

13 October 2017, Published under Cement News

CRH is among companies considering a counterbid for PPC that could trump an offer by Canada’s Fairfax Financial Holdings, according to Bloomberg sources. PPC’s future has been considering a merger with rival AfriSam Group failed and Toronto-based insurer Fairfax made a partial offer for ZAR2bn (US$149.5m) of PPC stock at ZAR5.75/share. PPC has a market value of ZAR11bn (€689m). Fairfax’s offer is conditional on PPC merging with AfriSam, and the South African company has appointed Invest...

PPC merger opposition grows

11 October 2017, Published under Cement News

Visio Capital Management, which holds seven per cent of PPC shares, is the latest investment manager to object to a partial conditional offer for AfriSam-Fairfax merger. Visio Capital’s position sees at least 25 per cent of shareholders opposing the merger. Earlier this week, Value Capital Partners, which owns around five per cent of PPC stock, had rejected the offer made by Canada’s Fairfax Africa Investments saying the intrinsic value of PPC was at least ZAR10/share. Fairfax had underta...

Votorantim

10 October 2017, Published under Cement News

The Votorantim Cimentos has announced its intention to sell its 50 per cent interest in the northen Florida cement company, Suwannee American Cement LLC. The joint owner of Suwannee American Cement is the privately-held construction company Anderson Columbia.

Buzzi Unicem

10 October 2017, Published under Cement News

Buzzi Unicem has acquired a 50 per cent stake in Ecotrade SpA, a company which deals in blast furnace slag and coal ash and handles in excess of 2Mta. Buzzi Unicem intends to expand Ecotrade’s operations beyond Italy to other countries where it is active.  

CRH

10 October 2017, Published under Cement News

CRH is to acquire Ash Grove Cement Company for US$3500m. Ash Grove Cement is currently the largest privately-owned cement producer in the USA and operates eight cement plants, two import terminals, 52 ready-mixed batching plants and 45 aggregates extraction sites. In the year to 31 December 2016, Ash Grove Cement generated a pretax profit of US$215m and shipped 7.4Mt (8.2Mst) of cement. CRH is currently its largest customer. The deal is expected to be completed around the end of the ye...