Cement News tagged under: divestment

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Cemex sells concrete pipe business

01 February 2017, Published under Cement News

Cemex has completed the sale of its reinforced concrete pipe business to Quikcrete Holdings. The transaction was carried out for around US$500m, including a potential additional US$40m depending on future results. Cemex will use the funds to reduce its debts as well as for general corporate purposes.

Cemex closes sale of Ventika stake

16 December 2016, Published under Cement News

Cemex announced that the company closed the divestment of its interest in the Ventika wind farm project. The Mexico-based cement producer sold its minority interest for around US$35m, with the proceeds of the transaction used mainly for debt reduction and general corporate purposes. Ventika’s entire equity is now owned by IEnova, part of Sempra Energy.  Cemex Energia will remain as the manager of the Ventika windfarm facilities.

Chile: Melon SA divests mortar unit to ParexGroup

02 December 2016, Published under Cement News

Chilean cement and construction materials producer Melon SA has agreed to sell its local mortar company Melon Morteros SA to ParexGroup, a French provider of specialty dry-mix solutions for the construction industry. The mortar unit is being sold for CLP4bn (US$6m), according to a filing with Chile’s securities and insurance regulator (SVS). ParexGroup will implement the transaction through its local subsidiaries, Parex Klaukol. SA and Parex Chile Ltd.

HeidelbergCement completes sale of US assets to Cementos Argos

01 December 2016, Published under Cement News

HeidelbergCement has completed the US$660m sale of the Martinsburg cement plant and eight terminals to Cementos Argos. HeidelbergCement had been required to sell the West Virginia plant to comply with regulators following the acquisition of Italcementi. It is expected that the company will use the proceeds of the sale to pay down some of debt it took on to finance the acquisition process. “With the disposal of the US assets we fulfil the obligation of the FTC and improve the net financ...

LafargeHolcim

02 November 2016, Published under Cement News

LafargeHolcim has agreed to sell its 54.3 per cent controlling stake in the Chilean cement producer Cemento Polpaico for some US$225m to Inversiones Caburga, which is controlled by the Hurtado Vicuña family. Cemento Polpaico owns one integrated cement works and two grinding centres with a combined cement capacity of 2.3Mta as well as 25 batching plants and some aggregates operations. LafargeHolcim Côte d’Ivoire was re-named from Socimat at the beginning of September. The company, which tr...

Qalaa Holdings to sell stake in ASEC Algeria Cement

24 October 2016, Published under Cement News

Egypt-based Qalaa Holdings has signed a preliminary agreement to sell its entire 100 per cent stake in ASEC Algeria Cement for some US$60m, according to Reuters.

LafargeHolcim exits Chile as it sells Cemento Polpaico

10 October 2016, Published under Cement News

LafargeHolcim will sell its majority stake in Chile's Cemento Polpaico to investment firm Inversiones Caburga Ltda, whose interests include the Chilean ready-mix market through Cementos Bicentenario.  Caburga, owned by the Hurtado Vicuna Group, agreed to buy the 54.3 per cent stake, which represents around CHF220m (US$225m), via a public tender offer, according to LafargeHolcim. Cemento Polpaico operates one integrated cement works and two grinding units with a total cement capacity o...

Sinoma sells Midong Tianshan and Fukang Tianshan stakes

23 September 2016, Published under Cement News

China National Materials Company (Sinoma) said its subsidiary Xinjiang Tianshan Cement recently carried out an equity transfer framework agreement. A 64.56 per cent stake in Xinjiang Midong Tianshan Cement and the entire equity interest in Xinjiang Fukang Tianshan Cement, both held by Tianshan Cement, as well as the 19.39 per cent stake in Midong Tianshan held by Xinjiang Tunhe Cement are to be under consideration for acquisition with Zhongtai Chemical. Sinoma added the equity transfer ...

LafargeHolcim to consider pulling out of more markets

19 September 2016, Published under Cement News

LafargeHolcim is muling over the option to withdraw from several markets to make last year's merger a success, chairman Beat Hess told weekly Sonntagszeitung. "We will be present in less countries for sure," Hess was quoted as saying. The sale of operations in several countries was an option, he said. While the new company generates 80 per cent of its operational earnings before taxes, depreciation and amortisation in 25 countries, Mr Hess added that there was "much potential for impr...

HeidelbergCement

02 September 2016, Published under Cement News

To eliminate monopoly issues in the USA caused by the acquisition of Italcementi, HeidelbergCement has agreed to sell the cement works at Martinsburg, West Virginia, and eight cement terminals to Cementos Argos for US$600m. This transaction is expected to be completed during the final quarter of this year. HeidelbergCement has agreed to sell its aggregates operations in the Gothenburg region to Swerock, a subsidiary of the Swedish contracting group Peab, for around EUR11.6m, with the deal...