Cement News tagged under: Mergers and Acquisitions
Moody's places Lafarge's ratings on review for upgrade, changes outlook on Holcim Baa2 rating08 April 2014, Published under Cement NewsMoody's has put Lafarge's Ba1 rating on review for a possible upgrade following the announced merger proposal with Swiss peer Holcim. At the same time, the credit rating's agency has changed its view on Holcim's Baa2 rating to negative from stable. The ratings actions reflect the fact that Holcim has a stronger balance sheet and credit rating than Lafarge. "The merger of Holcim and Lafarge will create the largest and geographically most diversified cement producer worldwide," said Moody's ... |
Holcim Indonesia to integrate two subsidiaries08 April 2014, Published under Cement NewsHolcim Indonesia plans to integrate two subsidiaries as part of efforts to improve operational efficiency, the company said in a statement on Friday. The Indonesian division of the cement Swiss major plans to merge units Bintang Polindo Perkasa and Wahana Transtama. Holcim now controls 100 per cent of Bintang Polindo after it acquired the ownership from Cemex Asia in 2008. Bintan Polindo owns cement milling facilities with a capacity of 600,000t in Ciwadan, Banten. Meanwhile, Wahana Transta... |
Holcim and Lafarge confirm talks on possible merger04 April 2014, Published under Cement NewsHolcim and Lafarge have confirmed that they are in advanced discussions regarding a "possible combination." The world's two leading cement majors said in separate releases that: "given the strong complementarity of their portfolio and the cultural proximity between the two companies, there is rationale in considering a potential merger that could deliver significant benefits to customers, employees and shareholders." "The discussions are based on principles consistent with a merger of equ... |
Asia Cement unit plans to buy Sichuan cement plant, China04 April 2014, Published under Cement NewsAsia Cement (China) said its non-wholly-owned subsidiary Sichuan Yadong Cement entered into a framework agreement with the existing shareholders of Sichuan Lanfeng Cement to acquire their entire equity interest in Sichuan Lanfeng and thus indirectly the entire equity interest in Sichuan Lanfeng's wholly owned subsidiary, Sichuan Lanfeng Building Materials. The target companies principally engage in the business of manufacture and sale of cement, concrete and related products in Sichuan. ... |
Simec reportedly in talks to buy stake in Gujarat unit03 April 2014, Published under Cement NewsDubai-based Simec is expected to buy up to 51 per cent in ABG Cement's Gujarat unit, local press have reported. The enterprise value of the 5.8Mta cement facility is expected to be around INR3500 crore, two sources familiar with the deal told the Economic Times. |
Dalmia to acquire Jaiprakash Bokaro stake25 March 2014, Published under Cement NewsJaiprakash Associates Ltd (JAL) is to sell its 74 per cent stake in its Bokaro Cement joint venture to Dalmia Cement (Bharat). Bokaro Cement is a 74:26 per cent collaboration between JAL and the Steel Authority of India (SAIL). The acquisition involves a 2.1Mt cement unit at Bokaro situated in the eastern Indian state of Jharkhand. The joint venture has a 30-year clinker supply arrangement with JAL and a slag supply arrangement for the same period with SAIL. "With this acquisition, D... |
Sagar denies Vicat buy-out talks20 March 2014, Published under Cement NewsSagar Cements Ltd has denied reports that it is in talks to sell its 47 per cent stake in its Vicat Sagar joint venture. The Economic Times newspaper earlier reported, citing unnamed sources, Vicat had started talks with Sagar to buy out its Indian partner in the joint collaboration which started production last year. "We wish to deny the contents relating to our company in the said news item, which are speculative in nature," Sagar Cements said in a statement to the stock exchanges. |
Lafarge reportedly attracting bids for Pakistan unit12 March 2014, Published under Cement NewsLafarge is reportedly attracting bids for its Pakistan unit, with the country's leading producer, Lucky Cement, said to be among companies competing for the assets. Potential acquirers have submitted bids to Lafarge, according to reports by Bloomberg who cited a source familiar with the matter. Lafarge Pakistan Cement operates a 2.05Mta plant in the Punjab province. |
Jaypee reportedly in talks to sell Panipat grinding unit11 March 2014, Published under Cement NewsHolcim, via its ACC arm, is in preliminary acquire the Jaypee Group’s grinding unit in Panipat, Haryana state, two sources familiar with the situation told the Economic Times of India. The move would expand Holcim’s presence in the north of the country. ACC has a cement plant in nearby Himachal Pradesh, and if JP’s grinding unit is absorbed it would be “beneficial logistically and even in terms of costs,” the ET quoted one source as saying. A domestic player based in the north of the count... |
Vulcan Materials Florida asset sale complete10 March 2014, Published under Cement NewsVulcan Materials Co has concluded the sale of its cement and concrete businesses in the Florida area to Cementos Argos SA for US$720m in cash. Under a separate supply agreement, Vulcan will continue to provide aggregates to the divested concrete facilities, at market prices, for a period of 20 years. "We are pleased to have successfully completed the transaction with Argos and to be working with Argos to supply aggregates to the facilities going forward," said Don James, chairman and CEO of... |