Cement News tagged under: divestment

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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...

Cemex to sell Costa Rica and El Salvador operations to Cementos Progreso

30 December 2021, Published under Cement News

Mexico-based Cemex has signed an agreement for the sale of its operations in Costa Rica and El Salvador with Guatemala’s Cementos Progeso Holdings, for the amount of US$335m, to be completed in the first quarter of 2022. The assets up for sale include an integrated cement plant, a grinding station, seven concrete plants, an aggregates quarry and a distribution centre in Costa Rica as well as a distribution centre in El Salvador. The disposal of the operations are in line with Cemex’s str...

Boral sells US fly ash business for US$755m

06 December 2021, Published under Cement News

Boral has called time in the US after more than 40 years with the sale of its fly ash business to Eco Material Technologies for US$755m, as it focuses on its construction materials business back in Australia. Chief executive Zlatko Todorcevski says the group’s ongoing divestment programme has now “unlocked substantial value”. “Together with the sale of the North American Building Products business and our stake in Meridian Brick … we will have divested the North American busines...

HeidelbergCement increases divestments with 'Beyond 2020' strategy

03 December 2021, Published under Cement News

The reorganisation of HeidelbergCement is gradually taking shape as the company seeks to prioritise its strongest markets as part of its 'Beyond 2020' strategy. This week, HeidelbergCement made another divestment, selling its 50 per stake in the 0.5Mta Sierra Leone Cement Ltd (Leocem) subsidiary to the Diamond Cement Group (WACEM). West Africa is a highly active marketplace and the German multinational will maintain a strong presence in the region with facilties in Ghana, Liberia, Togo,...

Holcim divests Zambian subsidiary to Huaxin Cement

02 December 2021, Published under Cement News

Holcim has closed the sale of its business in Zambia, representing a 75 per cent stake in the company, to the Chinese cement group Huaxin for an enterprise value of US$150m for 100 per cent ownership of the company. The deal was closed following approvals from Chinese and Zambian authorities. Jan Jenisch, Holcim CEO: said “This divestment is another step in our transformation to become the global leader in innovative and sustainable building solutions giving us the flexibility to con...