Cement News tagged under: Mergers and Acquisitions

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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...

Cemex

10 October 2017, Published under Cement News

Cemex has sold its 9.47 per cent direct stake in Grupo Cementos de Chihuahua for around US$168m, while retaining an indirect interest via the shares held by CAMCEM SA and this amounts to around 20 per cent. An earlier tranche was disposed of in February of this year.  

HeidelbergCement

10 October 2017, Published under Cement News

HeidelbergCement has provisionally agreed terms with Cementir to acquire Cementir Italia’s Italian cement and ready-mixed concrete business, subject to such a deal not being blocked by the competition authorities. Bearing in mind that Italcementi is the domestic market leader by a substantial margin approval may not be that easily obtained and may require some disposals to other parties. The proposed purchase of Cementir Italia in 2018 is thought to cost around EUR315m and should roughly ...

China National Building Materials (CNBM)

25 September 2017, Published under Cement News

China National Building Materials (CNBM) has said that its merger with China National Materials Group Corp (Sinoma) will be finalised by the end of this year. The merger process began back in August 2016 when the deal was approved by the Chinese State Council. Recent weeks have seen nine subsidiaries of the two groups suspend trading, fuelling speculation that the merger is being accelerated. CNBM hopes to use the merger to cut debt by increasing operation cash flow and decreasing capital...

Dangote

25 September 2017, Published under Cement News

A bidding war for PPC is underway after Dangote Cement submitted a takeover deal of cash and shares to the company last week. The offer comes after PPC received a joint offer from its domestic rival AfriSam Group and Toronto-based Fairfax Financial Holdings. Dangote has said that it has two banks willing to support its offer but declined to name the lenders. “The market in South Africa needs consolidation. It’s the right thing for us to go in there and consolidate,” says Dangote Cement. A...

PPC

25 September 2017, Published under Cement News

PPC shareholders will meet in early October to discuss merger proposals for the company. Following two previous unsuccessful attempts, AfriSam has once again submitted a merger deal, this time supported by Toronto-based Fairfax Financial Holdings. This has been followed by a new deal from Dangote Cement, which apparently has the support of two banks. According to local media reports, PPC’s largest shareholder, Public Investment Corporation (PIC), supports the joint offer from AfriSam and ...

AfriSam submits revised PPC merger offer

05 September 2017, Published under Cement News

South Africa’s cement maker AfriSam has submitted a revised merger approach to larger domestic rival PPC, the company said on Monday. AfriSam’s latest proposal values PPC at 5.75 rand per share, or SAR9.2bn (US$709.47m), and is the company’s  third attemp to merge with PPC and create a pan-African cement group with assets across six countries. As part of the proposal, the African unit of Canada's Fairfax Africa Holdings offered to buy 22 per cent of PPC at 5.75 rand per share for SAR2b...

Magnesita's first-half revenue rises 14%

15 August 2017, Published under Cement News

Magnesita Refratários SA, a global leader in refractory solutions and industrial minerals, recorded consolidated net revenue of US$552m in the first half of 2017, representing a 14 per cent YoY increase over the comparative period of 2016. Adjusted EBITDA reached US$91m in the 1H17, up by 13 per cent over 1H16, with a 16.5 per cent margin in the period. The performance was mainly driven by the 10.3 per cent increase in sales to the steel industry. Record in dead burnt magnesia sales, whic...