Cement News tagged under: divestment

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Holcim closes Brazilian deal

07 September 2022, Published under Cement News

Holcim has closed the sale of its business in Brazil to CSN (Companhia Siderúrgica Nacional) for an enterprise value of US$1.025bn. The deal was closed following approvals from Brazilian authorities. This transaction includes Holcim’s five integrated cement plants, four grinding stations, six aggregates sites and 19 ready-mix concrete facilities. Latin America remains a core strategic growth region for Holcim, according to the group. In the first half of 2022 Holcim completed a new ceme...

CEMEX closes the sale of its Costa Rican operations

02 September 2022, Published under Cement News

Through certain subsidiaries,  CEMEX has successfully closed the previously informed sale of its operations in Costa Rica and El Salvador to Cementos Progreso Holdings SL , for an approximate amount of US$329m, as per the terms of the transactional documents. The transaction, which was closed in line with the terms that had been disclosed on 29 December 2021, is an important step in meeting the goal of optimising the company’s global asset base through asset divestments under CEMEX’s st...

Lafarge Zimbabwe sells majority stake in its operations

08 June 2022, Published under Cement News

Lafarge Zimbabwe is selling 76.45 per cent of its business to Fossil Mines Pvt Ltd. The Holcim group member announced on Monday that it was selling the majority stake in its business. This is a further sale for Holcim following recent divestments decisions taken in India for ACC Ltd and Ambuja Cements. The Manresa cement plant has a cement capacity of 0.45Mta and employees 800 people directly.  There is currently a 0.5Mta expansion project being constructed at the plant.

Multiple potential buyers for Holcim Russia

17 May 2022, Published under Cement News

More than 30 potential buyers have expressed an interest in Holcim’s Russia business, according to Jan Jenisch, CEO, Holcim. Holcim announced in March that it plans to exit the Russia market following the country’s invasion of Ukraine.   “The process has started, it has to be done with very great diligence. We have had many inquiries,” Mr Jenisch told Reuters. “We don't expect to write it off completely, I would hope this business has a value. You have to give us a couple of months t...

Holcim reported to be looking for potential buyers of ACC Ltd

19 April 2022, Published under Cement News

Bloomberg has reported on Holcim proposing to dispose of Ambuja Cements Ltd. Holcim owns ACC Ltd and Ambuja Cements in India. With approximately 64Mta of cement capacity it is second-largest producer behind UltraTech Cement in the country. The Swiss conglomerate is believed to have held early-stage negotiations with JSW and Adani Group, among others, to explore their interest levels, according the Economic Times. Deliberations are in the early stages and may not lead to a transaction, ...

CADE gives initial approval of CSN acquisition of LafargeHolcim's Brazil operations

06 April 2022, Published under Cement News

Technical staff at Brazil's antitrust watchdog CADE have approved the acquisition of LafargeHolcim 's local business by steelmaker Companhia Siderúrgica Nacional (CSN) with no restrictions. The move represents an initial approval as the deal could still be blocked by CADE's board of directors, which is required to analyse the transaction before giving the final green light, reports Nasdaq. Until then, both companies will remain operating independently, CSN said in a securities ...

Martin Marietta Materials Inc enters into agreement to sell Redding plant

01 March 2022, Published under Cement News

Martin Marietta Materials Inc announced that it has entered into a definitive agreement to sell certain West Coast cement and ready-mixed concrete operations to CalPortland Company for US$250m in cash. The operations include the Redding cement plant, related cement distribution terminals and 14 ready-mixed concrete plants located in California. Ward Nye, Chairman, President and CEO of Martin Marietta, stated, “Consistent with our Strategic Operating Analysis and Review (SOAR) 2025 plan, w...

LafargeHolcim Le Havre site up for sale

28 February 2022, Published under Cement News

Installed in 1969 along the canal in the industrial port area of Le Havre, the former LafargeHolcim cement plant is being dismantled. The plant had been converted in 2016 to a centre for grinding imported clinker. A call for expression of interest has been launched by Haropa port to find a buyer for the 24.3ha site. Deadline for applications is 11 March 2022, with a possible award scheduled during the summer.

Holcim divests Northern Ireland cement business

26 January 2022, Published under Cement News

Holcim has sold its Northern Ireland cement business to Cookstown Cement Ltd for more than GBP55m, reports the BBC.  Cookstown Cement Ltd is a new local business that has acquired all of the business of Lafarge from Aggregate Industries (Holcim group).   The deal includes a cement plant and limestone quarry in Cookstown, a shale quarry in Dungannon and a facility at Belfast Harbour.  The new owners have committed to invest GBP12m in the facilities to upgrade environmental capabilitie...

Cemex and Cementos Progreso see growth scenarios

07 January 2022, Published under Cement News

At the end of last year, Cemex agreed to the sale of its Costa Rica and El Salvador operations to Guatemala's Cementos Progreso for US$335m. ICR discusses the ongoing Cemex strategy of Operation Resilience and considers how the new assets will fit in with Cementos Progreso's portfolio. Cemex's divestment included the sale of one fully-integrated cement plant, one grinding station, seven ready-mix plants an aggregate quarry and a distribution centre in Costa Rica as well as a distribut...