Cement News tagged under: assets

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Cevian Capital announces stake in CRH

06 February 2019, Published under Cement News

Europe's largest activist investor, Cevian Capital, has announced that it has built up a stake in CRH to become its second-biggest individual investor. "The group has many strong positions in attractive markets and we are convinced that CRH's assets could become significantly more valuable," Christer Gardell, managing partner of Cevian, disclosed to Reuters. The exact size of Cevian’s holding is unknown, however a stake of almost three per cent, worth around EUR600m, would be necessary t...

JSW Cement to look at inorganic growth

11 December 2018, Published under Cement News

India's JSW Cement has announced that it will be looking at inorganic expansion to reach its target of increasing capacity to 20Mta by 2020. The ongoing bad-loan resolution process has opened up opportunities to acquire cement assets in India. The company views the assets of debt-laden companies to have a strong potential to grow, while enabling swift scaling and optimisation of these capacities, according to a statement. "The company views the improving economic growth scenario, continu...

EAPCC receives backing to sell land assets

21 November 2018, Published under Cement News

Kenya’s East African Portland Cement Co (EAPCC) has received Trade Ministry backing to sell off idle land, which will help the company recoup some of the KES15bn (U$146.3m) it says it needs to avoid a complete shutdown of operations. Betty Maina of the Trade Ministry has said that a Cabinet memorandum is ready for submission to grant the company approval to sell off its assets. Ms Maina also noted that EAPCC, which has assets worth KES100bn, does not require a government bail-out for a tur...

Thai King increases stake in Siam Cement

19 June 2018, Published under Cement News

Thailand’s King Maha Vajiralongkorn Bodindradebayavarangkun has increased his stake in Siam Cement Group from 0.8 per cent to 30.8 per cent, and has become the top shareholder. King Vajiralongkorn took over all of the shares previously controlled by the Crown Property Bureau (CPB), an entity that manages royal assets, according to Nikkei. The transfer will not result in any change to the operations of the company. Alongside Siam Cement, King Vajiralongkorn also assumed control over the CPB...

Caribbean Cement pays first instalment of asset buyback

02 May 2018, Published under Cement News

Jamaica’s Caribbean Cement Co Ltd (Carib Cement) has paid the first instalment of JMD1.3bn (US$10.50m) on an asset buyback agreement with its parent company, Trinidad Cement Ltd (TCL). The agreement means that Carib Cement has 90 days to pay US$118m to TCL, to reclaim ownership of Kiln 5 and Mill 5 at its facility in Rockfort, Kingston, according to The Jamaica Gleaner. "The initial payment of JMD1.3bn towards the acquisition represents a significant investment in plant and equipment, imp...

CMA launches Breedon and Tarmac asset swap enquiry

01 March 2018, Published under Cement News

The Competition & Markets Authority (CMA) has launched Phase 1 of a merger inquiry into the anticipated acquisition by Tarmac of certain assets of Breedon Group. The initial period of the CMA’s merger inquiry began on 28 February, with the deadline for a decision on whether to refer the merger for a Phase 2 investigation currently scheduled for 26 April 2018. In a statement issued on 1 February, the CMA explained that it was "considering whether it is or may be the case that this transact...

Sagar Cements acquires grinding unit from Toshali Cements

30 June 2016, Published under Cement News

Sagar Cements announced the acquisition of a grinding unit owned by M/s Toshali Cements Pvt Ltd for INR600m (USD8.88m). The assets consist of one grinding unit located at Bayyavaram, Vizag district, Andhra Pradesh with a capacity of 181,500tpa. Post acquisition, the company proposes to invest INR60m (US$0.89m) to increase the capacity of unit to 300,000tpa. The acquisition will enable the company to save its logistic cost and to introduce slag cement to cater markets in Visakhapatnam, V...

Cemex says no bid on Lafarge-Holcim assets

24 October 2014, Published under Cement News

Mexico-based Cemex has announced it will not make an offer for Holcim and Lafarge assets that are available due to the proposed merger of the two cement giants, said Cemex CEO, Fernando Gonzalez, in a conference call with analysts.

Holcim and Lafarge announce proposed asset disposals

07 July 2014, Published under Cement News

Two months after the announcement of their planned merger, Lafarge and Holcim have revealed the list of proposed divestments. In Europe the merged entity aims to have “a significant and balanced industrial base in Europe – around 20 per cent of its revenues – within its overall global footprint, enabling it to take advantage of the European economic recovery,” according to a joint statement. LafargeHolcim plans to sell Lafarge’s Mannersdorf works in Austria as well as the Lafarge Tarmac a...