Cement News tagged under: acquisition
Dangote: a paradigm shift06 April 2016, Published under Cement NewsICR took the opportunity to meet with Dangote Cement’s new CEO, Onne van der Weijde, during the recent Cemtech Middle East & Africa conference in Dubai. The former area manager for Holcim with responsibility for the company’s Indian operations, Mr van der Weijde is now at the helm of Dangote Cement alongside DVG Edwin who remains in charge of new projects. Here he gives an optimistic account of Dangote’s ambitious strategy for Africa, where the company is now targeting a total capacity of 75... |
India: UltraTech purchase of 22.4Mta capacity set to be announced31 March 2016, Published under Cement NewsUltraTech Cement, already India's largest cement producer, is expected to confirm its purchase of Jaiprakash Associates' cement business. A report by CNBC-TV18 states that the deal will be officially announced on 31 March. UltraTech will acquire cement plants with a capacity of 22.4Mta for INR170bn (US$2.56bn). UltraTech has been seeking to purchase assets from Jaiprakash Associates for some time. In December 2015 a deal for the Bela and Sidhi plants was suspended because a new law pre... |
UltraTech Cement02 March 2016, Published under Cement NewsGrasim Industries is reportedly planning to spend IDR40bn (US$584.3m) on capacity expansions over the coming financial year, with IDR38bn of this earmarked for its subsidiary UltraTech Cement. Over the past year UltraTech has worked hard to reduce its operational costs, bringing them down by over two per cent through its use of multiple fuels. The cement producer has also benefitted from the fall in petcoke prices which have declined from around US$74/t in August last year to US$38/t. In the... |
Addoha reportedly to sell 30% African stake to HeidelbergCement26 January 2016, Published under Cement NewsIt has been reported that the Moroccan Addoha Group will sell 30 per cent of its African assets to HeidelbergCement, according to local news sources. The value of the transaction is estimated at around MAD2bn (US$202m). When contacted, HeidelbergCement declined to comment. Following the construction of two cement plants in its home market of Morocco (Ben Ahmed and Beni Mellal), the Addoha Group has rapidly expanded its activities in Africa, launching subsidiary Ciments de L'Afrique (CIMAF... |
CRH confirms total disposal proceeds of EUR1bn for 201508 January 2016, Published under Cement NewsCRH plc confirmed today total disposal proceeds of approximately EUR1bn in 2015. This comprises the previously announced sale of its clay and concrete products operations in the UK and the Group’s clay business in the US (EUR0.43bn) plus several additional divestments across Europe and the Americas for total proceeds of around EUR0.53bn. During 2015 the group also completed 20 bolt-on acquisition and investment transactions. These deals, together with the acquisition of assets from Lafarge... |
Buzzi Unicem05 January 2016, Published under Cement NewsThe Italian anti-trust authority has cleared the proposed acquisition by Buzzi Unicem of the cement and aggregates operations of SACCI SpA. However, this deal now looks unlikely to go through as a higher offer for these operations was made by Cementir at the end of December. Cementir is a global reader in white cement and produces grey cement in Denmark, Italy and Turkey. |
Ssangyong Cement creditors reject Taiheiyo offer18 December 2015, Published under Cement NewsThe administration responsible for selling South Korea's Ssangyong Cement is likely to reject an offer made by Japan’s Taiheiyo Cement Corp, Ssangyong’s second-largest shareholder, to acquire all its shares. It was based on the judgment that the Japanese cement maker's offer was intended to obstruct the sale. "The offer by Taiheiyo to take over all the Ssangyong Cement stake is equivalent to saying Ssangyong must accept its claims of preemption right currently in dispute in the court," c... |
LafargeHolcim02 December 2015, Published under Cement NewsLafargeHolcim is making an offer to acquire the shares in the Greek Heracles Cement SA. The offer runs until 11 December and, if successful, the Heracles Cement shares would be de-listed from the Athens stock exchange. Lafarge Malaysia Bhd has bought Holcim Malaysia from Holcim Indonesia for EUR69.8m. With the addition of Holcim Malaysia, Lafarge Malaysia now has a cement capacity of 14.14Mta and operates three integrated cement works, two grinding centres, six aggregates quarries and in ... |
Algeria: Beni Saf acquires three quarries23 November 2015, Published under Cement NewsSociété des Cements de Beni Saf has acquired three quarries to supply its second production line. The Dhayet Smaâ quarry has an estimated limestone reserve of 78.66Mt. In addition, the clay deposits of Koudiet El Tine (24.3Mt) and El Ancer will also supply the 2Mta cement line. The cement producer has acquired the quarries, which cover an area of 370ha, for a record DZD1.005bn (US$9.3m). Exploration work will be carried by CETIM, the Centre for Study and Technology Service of the Constr... |
LafargeHolcim02 November 2015, Published under Cement NewsLafarge Africa has now completed the acquisition of the outstanding 30 per cent of United Cement Company of Nigeria from Flour Mills of Nigeria to make it a wholly-owned subsidiary. United Cement is currently in the process of building a 2.5Mta production line, which will double its annual capacity to 5Mta. Lafarge Africa’s turnover improved by 5.5 per cent to NGN168,400m (EUR758m) in the first nine months of the year while the pretax profit declined by 11.6 per cent to NGN33,670m (EUR151.6m... |