Cement News tagged under: Holcim
What to make of Holcim's Indian exit?20 May 2022, Published under Cement NewsHolcim Group agreed to sell its Indian cement businesses this week for US$10.5bn in cash to the Adani Group. ICR reports on the deal and what this means for the Indian cement sector and Holcim going forward. The Adani Group is a coal, power, ports and renewable energy conglomerate that had only a small footprint (Adani Enterprises Ltd) in the cement sector before its interest in Holcim companies, ACC Ltd and Ambuja Cements. The latest acquisition will make Adani the second-largest player ... |
Cement giants in the running for Sika admixture business20 May 2022, Published under Cement NewsHolcim and HeidelbergCement are reportedly among the companies competing for Sika AG’s US admixtures business, which is believed to be valued at US$800m-1bn. Sika is selling off the asset to satisfy regulatory approval following its US$5.6bn purchase of German-based MBCC Group, formerly BASF Construction Chemicals, from an affiliate of Lone Star Funds in November 2021. According to Bloomberg, Turkish conglomerate Haci Omer Sabanci Holding AS is also interested in the Sika business, having pl... |
Lafarge to face charges for paying Islamic state in Syria20 May 2022, Published under Cement NewsA French appeals court has confirmed that the cement giant Lafarge must face charges of complicity in crimes against humanity over alleged payoffs to Islamic State group and other jihadist groups during Syria's civil war, reports France 24. Lafarge, now part of Holcim group , has acknowledged that it paid nearly EUR13m (US$13.7m) to middlemen to keep its Syrian cement factory operating in 2013-14, long after other French firms had pulled out of the country. The company contends that i... |
Multiple potential buyers for Holcim Russia17 May 2022, Published under Cement NewsMore than 30 potential buyers have expressed an interest in Holcim’s Russia business, according to Jan Jenisch, CEO, Holcim. Holcim announced in March that it plans to exit the Russia market following the country’s invasion of Ukraine. “The process has started, it has to be done with very great diligence. We have had many inquiries,” Mr Jenisch told Reuters. “We don't expect to write it off completely, I would hope this business has a value. You have to give us a couple of months t... |
Lafarge Egypt and Lumika sign US$93m solar power pact16 May 2022, Published under Cement NewsHolcim-owned Lafarge Egypt has signed a US$93m long-term agreement with Lumika Renewables Egypt, part of the AP Moller Egypt, to generate 140GWh of solar energy annually, according to Mist News. The two companies will establish a new 50MW power plant – the first plant owned by Lumika in Egypt. The plant will enable Lafarge to use clean energy for 50 per cent of its cement works’ energy consumption. The agreement comes into force by the first quarter of 2024. |
Holcim to acquire Izolbet of Poland16 May 2022, Published under Cement NewsHolcim has entered an agreement to acquire Izolbet, one of the leading players in the specialty building solutions market in Poland. Izolbet has delivered double-digit growth in sales and EBITDA over the last three years. The acquisition will strengthen Holcim’s footprint in the highly attractive market for renovation, thermal insulation and finishing, and will complement Holcim’s recent investment in a new production facility for dry mixes in Kraków. Miljan Gutovic, EMEA regi... |
Holcim board welcomes new members05 May 2022, Published under Cement NewsAt its annual general meeting on 4 May 2022, Holcim confirmed Beat Hess as the new chairman of the board. All members of the board standing for re-election were also confirmed in office, while Leanne Geale and Ilias Läber were both elected as new members. Shareholders also confirmed Claudia Sender Ramirez and Hanne Birgitte Breinbjerg Sørensen as members of the Nomination, Compensation & Governance Committee, while Ilias Läber and Jürg Oleas were elected as new members. Ms Sørensen will... |
Dalmia Bharat joins the Holcim India race03 May 2022, Published under Cement NewsDalmia Bharat Ltd is reportedly planning to bid for Holcim’s India businesses. According to sources close to Dalmia, the company is in talks with banks to secure financing for the bid which would add almost 65Mta of capacity to Dalmia’s existing 35Mta. UltraTech Cement, part of the Aditya Birla Group, is also planning to join the race for the Holcim assets - ACC Ltd and Gujarat Ambuja Ltd – but is concerned that its current capacity of almost 120Mta may come up against resistance fro... |
Holcim buys six quarries from FAMY Group03 May 2022, Published under Cement NewsHolcim has acquired six quarries from the FAMY Group, a major player in the aggregates sector in eastern France. The quarries currently serve the metropolitan areas of Dijon, Lyon and Geneva (Switzerland), accelerating Holcim’s expansion into the growing Rhône-Alpes region. Miljan Gutovic, regional head for Europe, the Middle East and Africa at Holcim, said, “This acquisition expands our footprint in the highly attractive Rhône-Alpes region, confirming our ambition to revitalise key u... |
JSW Group joins the race for Holcim in India02 May 2022, Published under Cement NewsThe race for the acquisition of a controlling stake in Holcim Group’s cement businesses in India is intensifying, with JSW Group lining up an array of private equity firms and lenders to fund the deal. The move follows a similar arrangement by the Adani Group, helmed by billionaire Gautam Adani, which is also in discussions with a number of global lenders. JSW Group has reportedly received assurances for funds of up to US$11bn from PE firms and lenders, including American PE major Carlyle... |