Cement News tagged under: acquisitions
India's shrewd consolidator02 February 2018, Published under Cement NewsThe Indian cement market is still caught in the grips of consolidation and Dalmia Bharat Cement Ltd (DBCL) is positioning itself to be a strong player going forward with the news that it is ready to acquire Kalyanpur Cement . Dalmia Bharat Group already states its mission is to be in the top two for every business in which it is involved, which includes power, sugar and refractories. While the addition of the Kalyanpur Cement plant in Bihar would add just 1Mta to the Dalmia Bharat capac... |
Hurtado Vicuña on the verge of completing required divestment10 January 2018, Published under Cement NewsGrupo Hurtado Vicuña is expected to be soon completing the divestment of a part of Cementos Bicentenario (BSA) assets, one of the main conditions imposed by Chile’s Fiscalia Nacional Economica (FNE) and its anti-competition authority, TDLC, in terms of the company’s acquisition of Cementos Polpaico shares. Certain sources suggest that offers have been received for the BSA assets and that due diligence has started with a deal likely to be completed before the end of this month, reports El ... |
Cementir looks to withdraw from Italy20 September 2017, Published under Cement NewsCementir has provisionally agreed terms with HeidelbergCement for the sale of its Italian cement and ready-mixed concrete operations to Italcementi, 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. If concluded, such a deal would make Cementir even more dependent on the Nordic and Benelux m... |
Adelaide Brighton eyes additional assets21 August 2017, Published under Cement NewsAustralia's surging property market and healthy infrastructure projections is encouraging Adelaide Brighton to look out for further acquisitions. "From a demand point of view on the east coast, it’s hard to be pessimistic. The only way to put it is it’s very strong," Adelaide Brighton chief executive, Martin Brydon, told The Australian. The Melbourne residential market has also shown strong if unexpected demand. "It’s actually stronger than what we thought it would be even six months ago,... |
South Korea: Hyundai Cement auction set to raise KRW600bn09 December 2016, Published under Cement NewsThe auction of Hyundai Cement, preliminary bidding of which is scheduled for 16 December, is set to attract bids from multiple prospective buyers, with the assets expected to fetch up to KRW600bn (US$515m), reports Korea’s Pulse. Hyundai Cement currently supplies seven per cent of the domestic market, and the company’s location in the country’s interior makes it particularly attractive to Korea’s coastal cement producers, Ssangyong Cement Industrial Co, Tongyang Cement & Energy Co, and La... |
HeidelbergCement to sell US assets to Cementos Argos in US$660m deal18 August 2016, Published under Cement NewsHeidelbergCement has agreed to sell its plant in Martinsburg (WV), USA, and eight terminals to Cementos Argos for US$660m. The deal is subject to regulatory approval, but the Federal Trade Commission had ordered the disposal as a result of the Italcementi acquisition. HeidelbergCement said that it expected the transaction to be completed in the fourth quarter of 2016. The deal involves the disposal of the company's Lehigh and Essroc subsidiaries. Dr Bernd Scheifele, chairman of the Man... |
Cementir to acquire HeidelbergCement’s Belgian operations25 July 2016, Published under Cement NewsCementir has announced that it is to acquire HeidelbergCement’s Belgian assets for an enterprise value of EUR312m (US$342m). The deal primarily consists of Compagnie des Ciments Belges SA and is subject to the European Commission giving its approval. HeidelbergCement has been obliged to sell its Belgian operations as part of the process of acquiring Italcementi. In 2015 the assets generated pro forma sales of EUR180m (US$197m) on sales of 1.8Mt of cement, 4.8Mt of aggregates and 0.8Mm 3 ... |
India: Nirma to acquire Lafarge India for US$1.4bn11 July 2016, Published under Cement NewsLafargeHolcim has announced that it has reached agreement with Nirma Group for the sale of Lafarge India. The deal - valued at US$1.4bn - will see Nirma acquire assets that include 11Mta of grinding capacity and several limestone quarries. Nirma has won out against four other bidders: China’s Anhui Conch, Mexican firm Cemex, and domestic firms JSW Cement and Piramal Group. The Competition Commission of India still needs to approve the move, but given Nirma’s small existing presence in the... |
India: Birla eyes September completion of Reliance acquisition11 July 2016, Published under Cement NewsBirla Corporation has said that it expects to complete its acquisition of Reliance Cement by September, Gulf Today reports. The US$711m deal was initially struck in February 2016 and will raise Birla’s cement capacity from 10Mta to 15.5Mta, as well as securing access to mineral concessions. A group of Birla shareholders took the company to court in an effort to block the deal, but this was rejected by the Kolkata High Court in May. Birla Corporation chairman Harsh V Lodha said: “The ac... |
CRH02 February 2016, Published under Cement NewsCRH raised some EUR960m from disposals during 2015, of which the disposal of the British and American clay operations accounted for EUR430m. The next biggest divestment was the sale of a 25 per cent interest in the sole cement producer in Israel. It spent some EUR8m on 22 acquisitions during 2015, notably the assets acquired from Holcim and Lafarge and CR Laurence in North America. In addition, a ready-mixed concrete joint venture was set up in Saint Petersburg, Russia, a concrete paving ... |