Cement News tagged under: asset sale

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Binani Cement sale attracts multinationals and local producer interest

21 November 2017, Published under Cement News

Binani Cement has attracted interest of as many as 15 bidders, say senior officials at the comapny, including CRH, Lafarge and Heidelberg Cement as well as local players India Cement, Orient Cement, Ramco Cement, Shree Cement, UltraTech and Piramals. The Bank of Baroda  referred the Binani Cement, a subsidiary of Binani Industries, to the National Company Law Tribunal in July after it failed to repay a INR970m (US$14.9m) loan. Bidders for the company will provide a binding bid with a...

Cemex

13 October 2016, Published under Cement News

Cemex is raising around a further US$400m through the sale of cement assets in Ohio to Eagle Materials.  The deal primarily concerns a 0.9Mta integrated cement works at Fairborn and also covers a cement terminal at Columbus and a cement bagging operation. In 2016 these assets are expected to generate a turnover in the region of US$79m and an EBITDA of some US$33m. The deal is expected to be completed at around the turn of the year.  

India: reason for optimism?

17 August 2016, Published under Cement News

The first quarter of 2016 provided some basis for optimism for India’s cement producers as the sector reported double-digit expansion. However, in the months ahead, the monsoon season and the perennial overcapacity of the industry continue to haunt profitability. The amendment of The Mines and Minerals (Development and Regulation) Act is expected to facilitate M&A in the cement sector The first quarter of 2016 has seen India’s cement industry make a positive start to the year...

Holcim Westport land for sale

07 June 2016, Published under Cement News

Following the closure of Holcim's Cape Foulwind cement plant in Westport, New Zealand, the plant site and its 400ha of land are for sale. The 60-year old Holcim plant is due to close 30 June 2016 as the company plans to import cement to two new terminals at Auckland and Timaru. The assets available as part of the sale include a quarry, packing plant site, water treatment plant, farm land, staff housing area and ground lease and wharf silos at the Westport harbour. Potential buyers are abl...

Cemex intends to reduce its US exposure to reduce debt

03 May 2016, Published under Cement News

In a further effort to reduce its high gearing, which stood at 180.1 per cent at the end of March, Cemex has agreed to sell assets worth US$400m to a US subsidiary of the Mexican Grupo Cementos de Chihuahua. The deal includes two cement plants – a 0.76Mta integrated plant in Odessa, Texas and a 0.57Mta integrated plant in Lyons, Colorado – as well as three cement terminals and building materials businesses in Texas and New Mexico. Plans are in hand, however, to increase the capacity o...