Cement News tagged under: acquisition
UltraTech24 April 2019, Published under Cement NewsIn the quarter ending 31 March 2019, on a standalone basis, UltraTech Cement saw its domestic net sales increase by 18 per cent YoY to INR103.34bn. The domestic sales volume jumped 16 per cent YoY with the clinker capacity at Manavar, Madhya Pradesh, now operating at 100 per cent utilisation. Profit before interest, depreciation and tax came in at INR23.53bn, compared to INR18.14bn in the same period a year earlier. Variable costs during the quarter advanced by three per cent YoY on the back... |
Cemex02 April 2019, Published under Cement NewsCemex has agreed to sell its operations in Latvia, where it owns the 1.6Mta cement plant at Broceni, as well as import and marketing operations in Sweden, where there are four, Finland (three), Norway (four), Estonia (1) and a 38 per cent stake in Lithuania's sole cement plant, to the privately-owned Schwenk Zement for EUR340m. To help finance the purchase, Schwenk is selling its 69.8 per cent stake in Schwenk Namibia on a Singapore-based investor for some US$73m. Cemex has also ag... |
Rwandan government to divest Cimerwa stake11 March 2019, Published under Cement NewsThe state of Rwanda has put up its 49 per cent stake in Cimerwa up for sale, according to an announcement made by the country’s Prime Minister, Edouard Ngirente on 9 March 2019. An auction will be organised at the end of the month. South Africa-based PPC currently holds a majority stake of 51 per cent in the Rwandan cement producer, but has not expressed an interest in acquiring the 49 per cent shareholding for sale. Cimerwa operates a 0.6Mta integrated plant in Rusizi. The government is ... |
PT Semen Indonesia27 February 2019, Published under Cement NewsSemen Indonesia plans to expand its operations following its recent acquisition of Holcim Indonesia. The deal, which was carried out through Semen Indonesia’s subsidiary, Semen Indonesia Industri Bangunan (SIIB), makes SIIB the main shareholder with 80.64 per cent ownership. As a result of the move, Holcim Indonesia is to be renamed PT Solusi Bangun Indonesia (SBI). According to Agung Wiharto, corporate secretary at Semen Indonesia, the acquisition, which is worth US$916.3m, is part of a ... |
Raysut Cement of Oman to acquire Sohar Cement25 February 2019, Published under Cement NewsRaysut Cement Co SAOG has informed Muscat Securities Market (MSM) that it has signed a letter of intent (LoI) with the shareholders of Sohar Cement Factory LLC of Oman, with respect to the purchase of all its shares. According to Ghose Jotirmoy Pratul Krishina, CEO of Raysut Cement, the parties are currently discussing the terms of the proposed acquisition and company will keep its shareholders informed of any significant future developments as and when they happen. With a 240tph gr... |
Ssangyong Cement to look for new owners?22 February 2019, Published under Cement NewsThis week the potential for further consolidation in South Korea's cement market was heightened when Asia Today reported that Hahn & Co Cement Holdings could be looking to sell its 77.44 per cent majority share ownership in Ssangyong Cement later this year. The latest development in South Korea's cement sector consolidation comes amid increasingly challenging market conditions. Falling cement demand South Korea's cement demand fell by 11 per cent in 2018, according to analysts Mira... |
FLSmidth acquires IMP Automation Group11 February 2019, Published under Cement NewsFLSmidth has acquired IMP Automation to increase its portfolio of automated laboratory solutions. IMP is the global leader in automated laboratory solutions for the mining industry and has a strong foothold in Australia and South Africa. "In FLSmidth we have found a partner with the right global sales network to take us to the next level. For years, we have combined profound laboratory process knowledge with automation skills and developed novel and innovative solutions. I am very excited ... |
Raysut Cement targets international expansion07 December 2018, Published under Cement NewsThis week Oman's Raysut Cement Co announced that it is planning to expand its portfolio by entering the Indian cement markets of Gujarat and Chhattisgarh, as well as targeting a 70 per cent stake in the distressed Kenyan producer ARM Cement, which is up for sale with debts of US$140m. The investments are all part of Raysut Cement's medium-term plan to substantially raise cement capacity from 6Mta to 20Mta by 2022. The acquisitions in India will represent an initial total investment of US$20... |
India Cements to acquire Springway Mining05 December 2018, Published under Cement NewsIndia Cements has entered into a share purchase agreement to acquire the entire shareholding of Springway Mining in a phased manner. On 3 December 2018 the company purchased the controlling stake of 51 per cent in the paid-up equity share capital of Springway Mining. The acquisition will support India Cements’ plans to set up a cement plant in Madhya Pradesh. |
Raysut Cement to acquire stakes in Indian cement producers in 1Q1904 December 2018, Published under Cement NewsRaysut Cement of Oman plans to invest US$700m in the Indian cement market by 2022. The cement producer intends for approximately US$200m of this total to be invested in acquiring majority stakes in two Indian cement producers in 1Q19. The investment is part of the cement producer's plans to expand its overall production capacity to 20Mta, while the Muscat Securities Market-listed firm is also scouting for acquisitions in Africa, according to the Hindu Business Line. "We are in discussion... |