Cement News tagged under: Acquisition
Pakistan's Popular Group acquires Dadabhoy Cement13 December 2019, Published under Cement NewsPopular Group of Pakistan has officially announced the purchase of a private-sector cement manufacturing facility in Sindh province of Pakistan. The announcement says, "It is hereby notified for the information of general public that Dadabhoy Cement Factory has been purchased by Popular Group, and now its name has been changed to Popular Cement Industries (Pvt) Ltd." Popular Cement Industries will start its cement production soon, the announcement concludes. The company's plant in Dadu ... |
Titan buys back IFC minority stake in SE Europe/Egypt units22 November 2019, Published under Cement NewsGreece-based Titan said that its board of directors has approved the acquisition of the minority stakes held by the International Finance Corp in its units in Egypt and four countries of southeastern Europe for EUR81.8m. “This transaction will conclude Titan’s successful cooperation with IFC gradually established since 2008 in Albania, Egypt, Serbia, North Macedonia, and Kosovo,” the group said. The agreement is subject to fulfilment of conditions precedent, Titan said, adding that its p... |
Cemento Progreso acquires Cemento Interoceánico20 November 2019, Published under Cement NewsGuatemala-based Cemento Progreso has bought a 100 per cent stake in Panamanian cement producer Cemento Interoceánico, according to Panamá América. In an internal communication to its staff, Cemento Interoceánico informed its personnel that labour conditions would remain the same and there would be no change of leadership. |
Gansu Qilianshan Cement increase building materials stake to 80%04 November 2019, Published under Cement NewsGansu Qilianshan Cement Group Co Ltd has agreed to buy an additional stake in Gansu Zhangye Julong Building Materials Co Ltd. Following the acquisition, Gansu Qilianshan Cement will hold a stake of around 80 per cent in the company. On 6 June 2019 Gansu Qilianshan Cement acquired an additional 22.78 per cent stake in Gansu Zhangye Julong Building Materials, up from 26 per cent initially. |
Dalmia sees 5% hike in 2Q revenues22 October 2019, Published under Cement NewsDalmia Bharat Cement reported consolidated revenues of INR22.85bn (US$322m) in the quarter ended 30 September 2019 (2QFY19-20), up 5.2 per cent when compared with INR21.73bn in the year-ago period. The company posted a consolidated profit of INR360m for the quarter ended 30 September 2019. In other news, the company said it plans to become a pan-India players with the acquisition of Murli Cement in Maharashtra and a a new plant in Rajasthan. This would enable Dalmia Bharat to enter the Mah... |
Blackstone enters race for Emami Cement16 October 2019, Published under Cement NewsBlackstone Group Inc (KKR & Co) are reported to be contemplating a bid for Indian conglomerate Emami Group and Emami Cement Ltd. Bloomberg reports that TPG Capital is also considering a bid for Emami Cement Ltd and may seek a partner for the project. Emami Group has picked Arpwood Capital Ltd and Credit Suisse Group AG to supervise the sale of the cement unit, seeking a valuation of about US$1bn. The company operates three cement manufacturing plants in India and is setting up another one... |
Al-Maslamia cement plant expected to be privatised15 October 2019, Published under Cement NewsThe Al-Maslamia cement plant in northern Aleppo, Syria, has been the subject of negotiations between Katerji International Group and Syria's General Organisation for Cement and Building Materials. The 3Mta cement plant could be the first state plant to be privatised in a SYP200bn (US$3.9m) investment by the Katerji family. The Katerji International Group is owned by the brothers Husam, Mohammed and Baraa Katerji. The family intend to reconstruct property in and around Aleppo. Over the p... |
International Cement cancels US$144m deal to buy Schwenk Namibia30 September 2019, Published under Cement NewsInternational Cement Group (ICG) has cancelled its proposed US$10.4.4m acquisition of Schwenk Namibia, according to a bourse filing on Monday. The deal, first announced in March, was cancelled on 27 September 2019. The company had first extended the long stop date by six months to 31 January 2020 from 31 July 2019 to fulfil the deal’s closing conditions, according to The Straits Times. The extension came after the Singpore Exchange rejected the acquisition bid in June as Schwenk was not pr... |
PPC28 August 2019, Published under Cement NewsSouth Africa’s PPC has failed to submit a bid for the Rwandan government’s 46 per cent stake in cement producer Cimerwa, forcing the government to seek an alternative investor. PPC had indicated it would be making a bid and was given until 5 July 2019 to do so. Cimerwa has been persistently underperforming for a number of years now, manufacturing just 364,864t of cement in 2018, despite its production capacity of 0.6Mta. Meanwhile, cement demand in Rwanda has grown steadily on the back of... |
National Cement's acquisition of ARM blocked22 July 2019, Published under Cement NewsThe acquisition of ARM Cement for US$50m by National Cement has hit a legal block. ARM's former CEO and leading shareholder, Pradeep Paunrana, has challenged the sale in the High Court, saying that ARM Cement has been undervalued and that his consortium had offered a bid of US$65m for ARM Cement. The administrator of the sale, PricewaterhouseCoopers (PwC), claims that the US$65m bid was turned down becasue it was not accompanied by proof of funds among other reasons. Instead, PwC approved t... |