Cement News tagged under: Acquisition
Adani in talks to acquire Jaiprakash cement unit10 October 2022, Published under Cement NewsAdani Group is in advanced talks to acquire the cement unit of Jaiprakash Power Ventures Ltd, part of Jaiprakash Associates Ltd, according to Mint. The group is expected to pay around INR50bn (US$607m) for a 2Mta grinding unit in Nigrie, Madhya Pradesh, along with other smaller assets. The deal will not only help lower debt for Jaiprakash Power Ventures Ltd but also solidify Adani’s place in the cement industry, having already acquired Ambuja Cements Ltd and ACC Ltd from Holcim fo... |
Holcim buys Polymers Sealants North America05 October 2022, Published under Cement NewsHolcim has completed the acquisition of the Polymers Sealants North America (PSNA) division of Illinois Tool Works. PSNA is a leader in coating, adhesive and sealant solutions with 2022 estimated net sales of USD100m. With more than 150 employees and manufacturing plants in California, Arizona, Texas, Georgia and Massachusetts, PSNA will accelerate the growth of Solutions & Products, especially in waterproofing and coatings. PSNA’s innovation-driven approach is highly complementary t... |
Qassim Cement initiates growth strategy30 September 2022, Published under Cement NewsThis week Qassim Cement Co (QCC) announced a Memorandum of Understanding (MoU) with Hail Cement Co (HCC) for the proposed acquisition of HCC. ICR explores the growth strategy of QCC and the potential for further mergers and acquisitions in the Saudi cement market. Saudi Arabia currently has one of the strongest economies in the world. The kingdom's GDP growth is expected to reach 7.5 per cent this year – the highest in a decade, according to credit rating agency S&P. Moreover, the country... |
Saint-Gobain acquires GCP Applied Technologies29 September 2022, Published under Cement NewsSaint-Gobain has acquired all of the outstanding shares of GCP Applied Technologies for US$32/share, in cash, in a transaction valued at approximately US$2.3bn. GCP will delist from the New York stock exchange. The business combination has been unanimously approved by the Boards of Directors of Saint-Gobain and GCP Applied Technologies respectively. “Saint-Gobain is an ideal strategic partner with a worldwide presence in the construction chemicals market,” said GCP Applied Technologies. ... |
Semen Indonesia integrates Semen Baturaja28 September 2022, Published under Cement NewsPT Semen Indonesia Tbk (SMGR) announced it will acquire 7.49bn shares, or a 75.51 per cent stake, of PT Semen Baturaja Tbk (SMBR). As a result, Semen Indonesia will become the owner of Semen Baturaja. The step is based on Indonesian Government Regulation No 33 of 2022, issued on 21 September, concerning the Addition of State Equity Participaton of the Republic of Indonesia into the Share Capital of the Company (Persero) PT Semen Indonesia Tbk. In the regulation nearly 7.5bn state-owne... |
Qassim Cement signs MoU for proposed acquisition of Hail Cement26 September 2022, Published under Cement NewsQassim Cement Co (QCC) signed a non-binding memorandum of understanding (MoU) with Hail Cement Co (HCC) to commence discussions for QCC to acquire all issued shares of HCC. In a statement to Tadawul, QCC said both parties will proceed with the due diligence in relation to the proposed transaction. If the deal completes based on the exchange ratio, the total consideration to be paid by QCC to HCC’s shareholders will be approximately 18.92m newly-issued shares in QCC. Based on QCC’s ... |
Holcim completes Cantillana acquisition23 September 2022, Published under Cement NewsHolcim has completed the acquisition of Cantillana, a specialty building solutions market leader in Belgium with 2022 estimated net sales of EUR80m. Cantillana offers a broad range of façade construction and external thermal insulation systems. This further strengthens Holcim’s position in building renovation and energy efficiency solutions, building on the recent acquisitions of PRB Group in France, PTB-Compaktuna in Belgium and Izolbet in Poland. With more than 200 employees and ... |
Holcim closes Brazilian deal07 September 2022, Published under Cement NewsHolcim has closed the sale of its business in Brazil to CSN (Companhia Siderúrgica Nacional) for an enterprise value of US$1.025bn. The deal was closed following approvals from Brazilian authorities. This transaction includes Holcim’s five integrated cement plants, four grinding stations, six aggregates sites and 19 ready-mix concrete facilities. Latin America remains a core strategic growth region for Holcim, according to the group. In the first half of 2022 Holcim completed a new ceme... |
FLSmidth to complete ThyssenKrupp Mining acquisition in August12 August 2022, Published under Cement NewsFLSmidth has announced that all conditions and requirements for the acquisition of thyssenkrupp’s Mining business (TK Mining) have been met. In accordance with the sale and purchase agreement, final closing of the transaction will take place on 31 August 2022. All regulatory clearances have been obtained without imposition of any competition related remedies. The combination of FLSmidth and TK Mining will create a leading global mining technology and service provider with operations fro... |
Holcim acquires SES insulation and roofing business02 August 2022, Published under Cement NewsHolcim has successfully completed the acquisition of SES Foam LLC, the biggest independent spray foam insulation company in the US with 2022 estimated net sales of US$200m. SES has a track record of double-digit growth, with advanced energy-efficiency and bio-based solutions for new and green retrofitting projects. Jamie Gentoso, global head Solutions & Products: “I warmly welcome all SES employees into the Holcim family. With SES’ leadership in thermal insulation, we are expanding our... |