Cement News tagged under: divestment

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FLSmidth Cement closes MAAG gears sale

05 March 2024, Published under Cement News

With reference to the announcement made on 22 January 2024, FLSmidth Cement has now closed the sale of its MAAG gears and drives business to the Swedish investment company, Solix Group AB. The transaction does not change FLSmidth’s previously-announced financial guidance for the full year 2023.

A more concise InterCement Participaçoes

01 March 2024, Published under Cement News

The last year has seen InterCement Participacoes (Mover) work hard to divest parts of its cement business to lower its debt. It is now being courted by several leading cement producers that are looking to make bids for further of the company's assets, making it likely that more divestments will be agreed before May and July, when the Brazilian company's latest set of debts are set to mature. Last week's statement from InterCement about having "received a series of inquiries and expressions ...

Companies circle for InterCement's assets

26 February 2024, Published under Cement News

Companhia Siderúrgica Nacional (CSN) and a consortium led by Votorantim Cimentos , including Polimix and Buzzi, have made binding proposals for the purchase of the assets in Brazil of Loma Negra 's parent company InterCement Participações  (InterCement), according to a local source.  InterCement has commented that it has received a series of inquiries and expressions of interest in its assets during recent months. BTG Pactual Bank is assisting in evaluating strategic alternatives, such...

FLSmidth looks at possible divestment options in Cement business

30 January 2024, Published under Cement News

FLSmidth will explore the available divestment options for its Cement business to maximise the division’s full potential and strengthen the market leading position of its Mining business. Over the past year, FLSmidth has simplified and rightsized the Cement business to further strengthen its market-leading position, improve profitability and make it fit-for-purpose with a strategic focus on the core products and services required in the cement industry. The company says it continues to bel...

PPC concludes 51% CIMERWA stake disposal

29 January 2024, Published under Cement News

PPC has concluded the sale of its 51 per cent stake in CIMERWA , Rwanda. The South Africa-based cement producer sold its shareholding for US$42.5m to National Cement Holding Ltd. The sale enables PPC to focus on its core domestic market, where it sees opportunities to improve profitability and secure a more sustainable return on capital, reports The Chronicle. In a notice to shareholders, PPC Chief Executive Officer, Matias Cardarelli, said: "I am pleased with the timely completion of t...

FLSmidth sells MAAG to Solix

23 January 2024, Published under Cement News

FLSmidth Cement sold its MAAG gears and drives business to Sweden-based investment company, Solix Group AB. The transaction is expected to close during the 1Q24 and includes all related assets, including intellectual property, technology, employees and customer contracts. The divestment of the MAAG business is in line with FLSmidth Cement’s GREEN’26 strategy, which in combination with a greater strategic focus on the Service business includes focussing the product portfolio on the core tec...

InterCement completes sale of Africa businesses

28 December 2023, Published under Cement News

InterCement Participações SA has announced that the divestment of its businesses in South Africa and Mozambique – collectively known as the ‘Africa Business’ – to Huaxin Cement Co. Ltd (China), has been concluded upon receipt of the provisional price of USD231.6m. As provided for in the previously executed Stock Purchase Agreement, the provisional price will be adjusted in due course considering net debt, other customary adjustments and working capital levels of the Africa Business.

Heidelberg Materials sells Gambia terminal

22 August 2023, Published under Cement News

Heidelberg Materials has completed the divestment of its Gambian business with the sale of its cement terminal in Banjul to B5 Plus for an undisclosed sum. The divestment is part of Heidelberg Materials’ ongoing portfolio optimisation focussing on the most promising and strongest market positions. In 2021 Heidelberg Materials had already sold its subsidiary Leocem in Sierra Leone. Going forward, the buildings material producer will serve its west African customers through its Benin, Bur...

InterCement assets in Brazil and Argentina are on other players' radar

21 July 2023, Published under Cement News

According to Valor, InterCement assets are being valued by local and global players. The operations of Loma Negra, Argentina, are being looked at by CEMEX , Pacasmayo and Argos . Loma Negra has nine plants and 45 per cent of the market.     According to Valor, the Brazilian operation could raise the interest of Buzzi, Vicat, Votorantim, CSN, Titan and Mizu. However, no official comment has been made from the parties in the article. In Brazil InterCement has a total production c...

FLSmidth sells AFT filter media business

14 July 2023, Published under Cement News

FLSmidth has sold its filter media business, AFT®, to the Micronics Engineered Filtration Group. AFT was started by FLSmidth in 1999 and was known previously as Advanced Filtration Technologies. The acquisition of AFT significantly expands Micronics’ portfolio of engineered filtration solutions to better serve customers’ baghouse filtration needs in industries such as cement, lime, coal-fired power utilities, energy from waste, co-generation, mining, and minerals, where the demand for high-t...