Cement News tagged under: Mergers
Lafarge Africa to seek shareholders approval17 May 2017, Published under Cement NewsLafarge Africa is to seek shareholders’ approval for a NGN140bn (US$443m) rights issue during its 58th Annual General Meeting to be held on 7 June 2017, the company has informed the Nigerian Stock Exchange. Also on the AGM agenda is a proposal to shareholders to approve the merger of subsidiary Unicem into Lafarge Africa. The proposals, according to the company, will strengthen its balance sheet and capital structure by reducing foreign currency exposure and optimising the Lafarge Afric... |
Consolidation needed in South African market claims PPC chief18 November 2016, Published under Cement NewsDarryll Castle, chief executive of PPC, has said that he believes there are too many cement companies operating in South Africa, adding that necessary consolidation would leave his firm in a stronger position, the Zimbabwe Herald reports. Mr Castle told the newspaper that PPC was “keeping and eye on the whole industry” and refused to comment on claims that merger talks had been reopened between his firm and the AfriSam Group. “In the longer term, there’s no doubt that there needs to be... |
Lafarge Surma Cement and Holcim Bangladesh in merger talks14 November 2016, Published under Cement NewsLafarge Surma Cement Ltd (LSC) has reportedly started talks with Lafarge Holcim Group to merge with Holcim Bangladesh Ltd (HBL). Lafarge Surma Cement, in a notice to Dhaka Stock Exchange last week, informed that the company is exploring the opportunity of combining LSC's business with HBL. A merger has the potential to create significant synergies as well as further position both HBL and LSC brands for future growth in Bangladesh. However, at this stage the Board of Directors of LSC emphas... |
LafargeHolcim brands CRH purchase write-down claims "without merit"21 March 2016, Published under Cement NewsCRH is disputing the value of the assets it purchased in February last year as part of the requirement from competition regulators to allow the creation of LafargeHolcim. The EUR6.5bn price paid by CRH is now under scrutiny, according to Reuters. In its annual report, published last week, LafargeHolcim stated: " LafargeHolcim has received from CRH several notices claiming a reduction of the purchase price. LafargeHolcim is contesting those claims. "In view of the information availab... |
Buzzi Unicem strengthens US distribution network22 February 2016, Published under Cement NewsBuzzi Unicem has added three new terminals to its distribution network, acquired after the merger between Lafarge and Holcim. Located in Rock Island (IL), Grandville (MI) and Elmira (MI), the terminals will serve new markets for Buzzi. Rock Island terminal has a cement distribution capacity of around 70,000tpa. Cement is delivered to the terminal from Buzzi's Selma (MO) plant by barge along the Mississipi river, or by rail from the Greencastle (IN), Cape Girardeau (MO) and Selma plants. ... |
Subdued demand recovery outlook after 2015 nadir06 January 2016, Published under Cement NewsWhile global cement consumption in 2015 contracted, cement producers can look forward in 2016 to modest gains in demand, but the scenario remains mixed with higher demand unable to raise low capacity utilisation and cement pricing power. By John Fraser-Andrews, HSBC, UK. The year 2015 looks set to mark the first reduction in global cement consumption since 1990 (see Table 1), with HSBC forecasting a five per cent contraction in China (which accounts for over 70 per cent of global demand) ... |
UltraTech reportedly nearing deal to buy Bhilai grinding plant, India27 August 2015, Published under Cement NewsUltraTech Cement is rumoured to be in advanced talks to buy Jaiprakash's 2.2Mta grinding plant in Bhilai, Chhattisgarh state, according to local press. Citing sources familiar with the matter, the reports state that the two companies are waiting for approval from state-run steelmaker Steel Authority of India Ltd (SAIL), which owns 26 per cent of the plant, before finalising the deal. In December, UltraTech agreed to acquire the Madhya Pradesh assets of Jaiprakash Associates Ltd, which ... |
Holcim says Eurocement proposal 'too late' for consideration at meeting17 April 2015, Published under Cement NewsHolcim said a proposal by a major shareholder to have a seat on the LafargeHolcim board had come too late to be included in the agenda of a shareholder meeting next month. Lafarge and Holcim announced the names of the candidates for the board of the new group earlier this week, in a list comprising seven nominees from Holcim and seven from Lafarge. On Wednesday, Eurocement notified Holcim that, as the Swiss major’s second largest shareholder, it was nominating Galchev to join the board... |
The year ahead...12 January 2015, Published under Cement News2015 has got off to something of a bumpy start with sharply-declining oil prices (below US$50/bbl at the time of writing), on-going geopolitical risks (eg Russia and Syria), and economic uncertainty in some key regions, most notably the eurozone. China will continue to be the focus of attention as its government tries to engineer a smooth transition from an investment-driven to consumption-led economy. This will have big implications for cement demand, which has been a major beneficiary of ... |
Deutsche Bank upgrades Holcim to buy09 April 2014, Published under Cement NewsDeutsche Bank upgrades Holcim to buy from hold and lifts its target price to CHF90 (EUR74) from CHF70 (EUR57) as the upside potential in the building sector should boost cement demand. This "when combined with a transformational deal with Lafarge, which brings global leadership status and hopes for greater market discipline, should make the combined entity a key holding for long term shareholders seeking to increase the beta in their portfolio," say Deutsche Bank analysts. |