Cement News tagged under: acquisition
Adani Group acquires Holcim India16 May 2022, Published under Cement NewsAdani Group has agreed to purchase Holcim India for CHF6.4bn (US$6.37bn). The deal includes Holcim’s 63.11 per cent stake in Ambuja Cement, which owns a 50.05 per cent interest in ACC, as well as its 4.48 per cent direct stake in ACC. The combined footprint of Ambuja Cement and ACC includes 31 cement production sites with a total cement production capacity of 66Mta and 78 ready-mixed concrete plants across India. The transaction is expected to complete in the second half of 2022. “Wit... |
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... |
JSW Group to submit bid for Holcim India11 May 2022, Published under Cement NewsJSW Group has revealed plans to submit a US$7bn bid for a controlling stake in Holcim’s India assets. Holcim currently holds a 63.1 per cent share in Ambuja Cements and a 4.48 per cent share in ACC , with Ambuja controlling a 50.05 per cent stake in ACC. Speaking to Financial Times, Sajjan Jindal, chairman and managing director of JSW Group, said that the company would fund US$4.5bn of the bid while private equity players would provide the remaining US$2.5bn. JSW Group currently ... |
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... |
Flender completes Moventas acquisition26 April 2022, Published under Cement NewsDrivetrain specialist Flender, has successfully closed the transaction to acquire Finnish wind turbine gearbox manufacturer Moventas, after receiving approval by the authorities. Moventas is now solely owned by Flender. The acquisition marks the next step in Flender’s growth strategy after progressing into independence last year. “We are very happy to announce the closing of this strategic acquisition. Moventas’ expertise and product portfolio is a perfect fit into our strategy of being th... |
UltraTech acquires 29% stake in RAK White Cement19 April 2022, Published under Cement NewsUltraTech Cement Middle East Investments , part of UltraTech Cement in UAE, has invested US$101m to acquire a 29.39 per cent stake in RAK Cement Co for White Cement and Construction Materials PSC . RAK White Cement reported a turnover of INR4.825bn (US$63.2m) last year, up from INR4.46bn in 2020. The company is registered on the Abu Dhabi and Kuwait stock exchanges. |
Akkermann Cement acquires unfinished Kaluga Cement plant19 April 2022, Published under Cement NewsRussia’s Akkermann Cement , owned by USM Holding , has acquired the Kaluga Cement Plant for RUB8.95bn (US$110m) at an auction, reports Esmerk Russian News. Kaluga Cement was declared bankrupt in 2018. The plant was expected to have a capacity of 3.5Mta when commissioned, but the construction works were never completed. To take the project to a successful completion, it is expected Akkermann Cement will have to spend at least RUB30bn. |
Vicat Cement Egypt's acquisition of Sinai Cement approved14 April 2022, Published under Cement NewsThe Financial Regulatory Authority (FRA) has approved the publication of a disclosure of an acquisition offer by Vicat Cement Egypt for a 42.12 per cent stake in Sinai Cement Co at EGP6.74 (US$0.36) per share, according to a filing to the Egyptian Exchange (EGX). Vicat will buy 56.064m shares in Sinai Cement, increasing its stake in the company to 100 per cent. |
CADE gives initial approval of CSN acquisition of LafargeHolcim's Brazil operations06 April 2022, Published under Cement NewsTechnical staff at Brazil's antitrust watchdog CADE have approved the acquisition of LafargeHolcim 's local business by steelmaker Companhia Siderúrgica Nacional (CSN) with no restrictions. The move represents an initial approval as the deal could still be blocked by CADE's board of directors, which is required to analyse the transaction before giving the final green light, reports Nasdaq. Until then, both companies will remain operating independently, CSN said in a securities ... |
Lehigh Hanson acquires Meriwether Ready Mix05 April 2022, Published under Cement NewsHeidelbergCement has announced that its North American subsidiary Lehigh Hanson Inc has acquired all assets of Meriwether Ready Mix, a leading producer of ready-mixed concrete with a well-established residential and commercial customer base in the Metro Atlanta area. The Metro Atlanta Area is a growing market with significant infrastructure projects planned in the coming years. The acquired assets include four ready-mixed concrete plants and a fleet of mixer trucks. “After th... |