Cement News tagged under: divestment
Cimpor01 November 2018, Published under Cement NewsThe Camargo Correa subsidiary InterCement, formerly trading as Cimpor, has agreed to sell its Portuguese and Cape Verde assets to the Turkish group Oyak. Having previously considered selling a 49 per cent interest in all of its African and European activities, InterCement has now decided to sell the Portuguese and Cape Verde assets in their entirely. These consist of three integrated cement plants with a combined cement capacity of 9.1Mta, two grinding plants, 40 concrete batching plants ... |
HeidelbergCement02 October 2018, Published under Cement NewsHeidelbergCement subsidiary Suez Cement Co, which came with the purchase of Italcementi, has agreed in principle to sell the El Minya white cement works to Emaar Industries Company. The El Minya works was completed in 1991 and has a capacity of 1Mta and is located in the Cairo area, to the north of the city. It is held through Helwan Cement Co, which first has to split out its white cement operations. That procedure is likely to take some months. Emaar Industries is controlled by the D... |
ASEC Cement starts Zahana exit negotiations05 September 2018, Published under Cement NewsQalaa Holdings announced that its subsidiary ASEC Cement has commenced negotations to exit Zahana Cement, in which it owns 35 per cent of shares. ASEC Cement has invested US$62m in Zahana Cement, which has a plant located some 40km from Oran, western Algeria. The cement producer upgraded the works to produce 0.75Mta and has been building a new 1.6Mta line, scheduled to come online at the start of 2020. |
Southeast Asia producers line up for LafargeHolcim Indonesia sale17 August 2018, Published under Cement NewsThe sale of LafargeHolcim's Indonesian unit has attracted the interest of several potential buyers in the region, including Japan's Taiheiyo Cement Corp, Malaysia's YTL Corp and PT Semen Indonesia, Bloomberg reports, citing unnamed sources. HeidelbergCement's Asian unit PT Indocement Tunggal Prakarsa is also considering a bid, Bloomberg reports. Negotiations are still at an early stage and LafargeHolcim could seek as much as US$2bn for the unit, Bloomberg says. LafargeHolcim owns 80.6 ... |
CRH02 August 2018, Published under Cement NewsCRH America has sold its Mallard Sand & Gravel operation in Omaha, Nebraska, to Martin Marietta Materials. The disposal was required as a result of the acquisition of Ash Grove Cement Company. |
ARM Cement to relinquish Tanzania assets18 June 2018, Published under Cement NewsARM Cement will include KES854.6m (US$8.45m) of additional assets in Tanzania to sweeten the deal for buyers of the company’s non-cement business, according to The Citizen. The company reached an agreement to sell its fertiliser and mineral production businesses in Kenya to Swiss firm Omya and Pinner Heights Ltd (PHL), a company owned by its CEO, Pradeed Paunrana, for KES1.6bn. Its latest annual report ARM said that the buyers could also acquire its non-cement operations in Tanzania for f... |
PPC26 April 2018, Published under Cement NewsPPC is reportedly in talks with China National Materials Co (Sinoma) over the sale of a majority stake in PPC’s operations in the Democratic Republic of Congo. Over the last five years, PPC has invested ZAR12bn (US$995m) in new capacity, taking the company into Ethiopia as well as the Democratic Republic of Congo. However, an oversupply of cement in Congo has led to what PPC describes as a “challenging” time in the country, forcing it to negotiate a debt holiday with lenders. It is now lo... |
Cimpor02 February 2018, Published under Cement NewsCimpor is likely to return to the stock market as InterCement, the intermediate holding company, is looking to reduce debt levels. InterCement sold a significant minority stake in its Argentine subsidiary Loma Negra last year. The Cimpor business that is expected to become quoted is likely to consist of the operations in Portugal, Cape Verde, South Africa and Mozambique. |
CRH02 February 2018, Published under Cement NewsCRH announced the completion of the sale of its Americas Distribution business for US$2630m at the beginning of January. |
Cementos Argos25 January 2018, Published under Cement NewsArgos USA LLC, a subsidiary of Cementos Argos SA, has sold 13 block manufacturing plants and a construction materials warehouse to Best Block LLC, a subsidiary of Quikcrete. The deal is reportedly worth US$50m. All the assets in question are located in Florida and Georgia and form part of the cement and concrete package acquired by Argos from Vulcan Materials in 2014. |