Cement News tagged under: asset sale

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ARM Cement's Kenyan assets sold to National Cement

22 May 2019, Published under Cement News

The Kenyan assets of ARM Cement have been sold to National Cement Co for US$50m, according to a statement by its administrators. The transaction is subject to regulatory approvals. The company was placed under administration last year by some of its creditors over what has been reported to be a US$190m debt. The news follows PriceWaterhouseCoopers starting preparations to dispose of ARM’s stake in South Africa’s Mafikeng Cement for KES300m (US$2.974m) in early April.

Arkan sells Emirates cement plant

15 February 2019, Published under Cement News

UAE-based Arkan Building Materials has announced the sale of its Emirates cement plant for AED50m (US$13.6m). The company also noted the permanent shutdown of Emirates Cement Co. Arkan has already received AED21.9m of the total amount, recognised in its 2018 financials as other income. The company’s main operations are based at its separate 4.5Mta facility in Al Ain.

HeidelbergCement reportedly considers selling Ukrainian assets

11 February 2019, Published under Cement News

HeidelbergCement is reportedly considering the sale of its assets in Ukraine, according to Interfax-Ukraine. "HeidelbergCement is selling its assets in Ukraine. The deal is to be held in March-April of this year. The buyer will be the Ukrainian investment group Concorde Capital," said a source for the news agency. HeidelbergCement Ukraine owns three plants in the country – Kryvyi Rih, Kamyanske and Amvrosiyivka. As yet, the company has not commented on the alleged sale.

HeidelbergCement updates on portfolio optimisation

15 January 2019, Published under Cement News

HeidelbergCement has reported that it closed the divestment of its 50 per cent share in Ciment Québec and its minority participation in Syria in December 2018. In addition, a former cement plant area in the Cairo metropolitan area, Egypt, has been auctioned and the divestment of its Ukrainian business has been signed. The closure of both the latter transactions is expected to occur in 2019. These divestments have a total value exceeding EUR150m and is expected to have a slightly positive e...

BBMG to sell 7 cement companies to Jidong Cement

10 January 2019, Published under Cement News

BBMG Corp has announced that it will sell the entire equity interests in seven cement companies to China’s Jidong Cement for a total consideration of CNY1.54bn (US$227.06m). BBMG and Jidong have also agreed to contribute CNY1bn to the registered capital of their joint venture, BBMG Jidong Cement (Tangshan) Co Ltd. According to a statement, the agreements are to resolve issues of competition between the two companies.

Cementos Bío Bío sells Peruvian subsidiary

11 October 2018, Published under Cement News

Chile’s Cementos Bío Bío has sold its Peruvian subsidiary, Cementos Portland, in a transaction valued close to US$14m, according to La Tercera. The departure means that it will no longer be participating in a project with Brazil’s Votorantim Cimentos to construct a plant in Lima, which has reportedly faced a number of difficulties concerning market rivals. A further two projects that the company had planned in Peru, one concerning cement and the other lime, will remain unfulfilled after th...

Helwan Cement to sell white cement plant

11 September 2018, Published under Cement News

Egypt’s Suez Cement has announced that its subsidiary, Helwan Cement Co, has entered into an agreement with Emaar Industries to sell its 1Mta white cement plant in Minya Governorate. The transaction is expected to take place after the facility is de-merged from Helwan Cement. The sale is part of the company’s restructuring strategy to improve its financial position.

Sabanci reportedly considers the sale of three facilities

20 July 2018, Published under Cement News

Turkey’s Sabanci Holding is considering the sale of three of its cement factories, according to Reuters. The factories include Çimsa’s Kayseri (1.1Mta) and Nidge (0.81Mta) units, and Akçansa’s Ladik (1Mta) facility. Sabanci has reportedly authorised Unlu & Co, a financial group, for the deal.

Caribbean Cement considers exiting lease agreement

26 March 2018, Published under Cement News

Caribbean Cement could reduce its costs by approximately a third, US$10m, annually if it exits a lease agreement with its parent company, Trinidad Cement Company (TCL), according to The Gleaner. The company is projected to spend about US$25m on the 2017 operating lease for its Rockfort facility in Kingston. The plans would involve terminating that annual payment and buying back the plant, which is valued at US$118m. Caribbean Cement will make an announcement on the outcome within 90 days....

HeidelbergCement to sell calcium silicate unit business

15 December 2017, Published under Cement News

HeidelbergCement has signed an agreement with H+H International A/S and its subsidiary H+H Deutschland GmbH to sell its calcium silicate unit business (HDKS), according to a press release. The transaction has a value of about EUR110m (US$129.6m) and is expected to be completed within the 1Q18. "HDKS has a strong market position in the North-East and South-West of Germany as well as in Switzerland, but the focus of its product portfolio on calcium silicate units is outside the core busines...