Cement News tagged under: Acquisition
Adani Group targets Jaypee Group's cement assets18 July 2024, Published under Cement NewsAs lenders have initiated insolvency and bankruptcy proceedings against Jaiprakash Associates Ltd, the Adani Group is looking to acquire the Jaypee Group ’s cement assets, which boast over 9Mta capacity, according to a report by Moneycontrol. Jaiprakash Associates has been selling its cement plants to reduce debt, with a significant portion of its cement business previously acquired by UltraTech in 2016 for over INR160,000m (US$1.9bn), adding 22.4Mta capacity to UltraTech’s... |
UCEM acquires Ecuador’s Ecoluz SA17 July 2024, Published under Cement NewsGloria Group , through its subsidiary Unión Cementera Nacional SA (UCEM), has closed the purchase and sale contract for 99.998 per cent of Ecuador-based hydropower company Ecoluz SA. In May 2024 the Superintendency of Economic Competition of Ecuador approved the acquisition of all Ecoluz shares by UCEM. “Gloria Group reaffirms its commitment to investment in the Latin American market, betting on the development of the countries in the region,” concludes the Peruvian company. |
Bestway Group acquires shares in UNBL UK16 July 2024, Published under Cement NewsBestway Group of the UK, which has a stake as a parent company in cement and bank operations in Pakistan, will notice the exchange of shareholding patterns among two banking businesses in Pakistan and Great Britain. According to AHL Research, United Bank Ltd (UBL operation in Pakistan) has finalised the sale of its 55 per cent stake in United National Bank Ltd UK (UNBL UK) to Bestway Group, having obtained all the necessary and stringent regulatory approvals, ensuring the legality and sec... |
Bamburi Cement receives acquisition deal11 July 2024, Published under Cement NewsAmsons Group, Tanzania's leading manufacturing and energy giant, has offered to acquire a 100 per cent share in Bamburi Cement of Kenya in a proposed US$180m deal. The offer has been made by the Amsons Industries (k) Ltd subsidiary to buy the shares at KES65 (US$0.51)/share. The cash offer represents a 42.39 per cent premium share price as of the closing of NSE trade in 9 July 2024. Bamburi Cement is currently majority owned by Holcim (58 per cent) and listed on the Nairobi Secur... |
Ras Al Khaimah White Cement becomes a subsidiary of UltraTech Cement Middle East11 July 2024, Published under Cement NewsFollowing UltraTech Cement Middle East Investments Ltd' s (UCMEIL) partial cash offer for acquiring shares (25 per cent) of Ras Al Khaimah Co for White Cement (RAKW) and Construction Materials PSC in May 2024, a shareholders' meeting was held on 9 July and the final allotment of shares in the name of UCMEIL was announced on 10 July. Together with the existing shareholding in RAKW ( UltraTech Group ), UCMEIL's aggregate shareholding in RAKW was increased to 54.39 per cent. Therefore, RA... |
Command Alkon acquires Marcotte Systems11 July 2024, Published under Cement NewsCommand Alkon has acquired Marcotte Systems, a technology leader providing best-in-class software solutions for producing and delivering concrete. This strategic acquisition includes all Marcotte’s products and reinforces Command Alkon’s dedication to supplying the ready-mix/concrete, aggregates and asphalt technology industry with global software solutions. “Joining forces with Command Alkon marks a significant milestone, not only for our company, but for the heavy building materials in... |
Holcim acquires Mark Desmedt to accelerate circular construction08 July 2024, Published under Cement NewsHolcim has completed the acquisition of Mark Desmedt in Belgium, advancing circular construction in Europe in line with its target to recycle 10Mta of construction demolition materials. Mark Desmedt recycles more than 500,000tpa of construction demolition materials and is strategically located to serve Belgium’s two largest metropolitan areas, Brussels and Antwerp. Miljan Gutovic, CEO, Holcim: “With the Mark Desmedt team, we are accelerating our vision to drive circular construction in... |
Saint-Gobain to acquire FOSROC28 June 2024, Published under Cement NewsSaint-Gobain has entered into a definitive agreement to acquire FOSROC, a leading privately-owned global construction chemicals player for US$1025m in cash. Following the acquisitions of Chryso in 2021, GCP in 2022 and 33 additional acquisitions since 2021, this move is a new strategic step in establishing Saint-Gobain’s worldwide presence in construction chemicals, which will have combined sales of EUR6.2bn across 73 countries following the acquisition (pro forma). FOSROC is a global ... |
Holcim acquires Cand-Landi Group to accelerate decarbonisation and circularity at Eclépens24 June 2024, Published under Cement NewsHolcim acquired the Cand-Landi Group in Switzerland to advance decarbonisation and circular construction. With consolidated net sales of CHF70m (US$11.4m) and 250 employees, Cand-Landi’s diversified businesses range from recycling and waste management to aggregates and ready-mix. The acquisition will accelerate decarbonisation at Holcim’s Eclépens plant in Switzerland by providing new sources of alternative raw materials and alternative fuels. It also increases by 100,000tpa Holcim’s rec... |
Ambuja Cements acquires Penna Cement17 June 2024, Published under Cement NewsAdani Group subsidiary Ambuja Cements has acquired Penna Cement Industries Ltd (PCIL) for INR104,220m (US$1274m). Following this latest acquisition Adani Cement 's production capacity increased to 89Mta. It would also provide sufficient limestone reserves to Ambuja Cement. By 2028 Adani targets a total production capacity of 140Mta capacity and around 20 per cent market share. In a regulatory filing, Ambuja Cements Ltd said it will acquire 100 per cent shares of PCIL from ex... |