Cement News tagged under: acquisitions
Demerger of Century Textiles to UltraTech Cement24 May 2018, Published under Cement NewsThe Board of Directors of UltraTech Cement Ltd confirmed that Century Textiles will demerge its 'Cement Business' into UltraTech, in a company statement. "The transaction provides UltraTech the opportunity for further strengthening its presence in the highly fragmented, competitive and fast growing east and central markets and extending its footprint in the western and southern markets in the country," said UltraTech's statement. The transaction is expected to be consummated within 6-... |
Dewan Cement rejects Mega Conglomerate offer14 May 2018, Published under Cement NewsMega Conglomerate's plan to acquire 87.5 per cent majority stake in Dewan Cement could be over. The deal is thought to have collapsed after Dewan Mohammad Yousuf Farooqui, chairman of the Yousuf Dewan Companies, rejected the offer of Mega Conglomerate to acquire a majority stake in Dewan Cement, reports Pakistan Today. A letter sent on 21 April by Mega Conglomerate Executive Director, Aly Khan, to Mr Farooqui, reveals that the due diligence exercise assessed Dewan Cement's enterprise value... |
Breedon Group02 May 2018, Published under Cement NewsBreedon Group, which in 2017 generated a turnover 43.5 per cent higher at GBP652.4m (EUR750.5m), produced EBITDA 39.8 per cent ahead at GBP117m (EUR134.6m) and a pretax profit of £71.2m (EUR81.9m), representing an increase of 52.1 per cent. Aggregates volumes increased by 40.4 per cent in 2017 to 16Mt, while ready-mixed concrete deliveries advanced by 73.7 per cent to 3.3Mm³. Asphalt remained stable at 1.9Mt. A GBP16.5m (EUR19m) deal was concluded with CRH in the early part of 2018, where... |
Breedon in talks to acquire Lagan Group19 February 2018, Published under Cement NewsUK-based construction materials company, Breedon Aggregates, is reportedly looking to acquire all or parts of Lagan Group, a leading building materials company based in Ireland. The Lagan Group currently includes Lagan Cement, which has a production capacity of 700,000tpa, two bitumen terminals in Dublin and Belfast, road marking, quarry and concrete businesses. It is also involved in the manufacture of bricks, blocks and timber frames for the housing sector. In the UK its assets include We... |
India's shrewd consolidator02 February 2018, Published under Cement NewsThe Indian cement market is still caught in the grips of consolidation and Dalmia Bharat Cement Ltd (DBCL) is positioning itself to be a strong player going forward with the news that it is ready to acquire Kalyanpur Cement . Dalmia Bharat Group already states its mission is to be in the top two for every business in which it is involved, which includes power, sugar and refractories. While the addition of the Kalyanpur Cement plant in Bihar would add just 1Mta to the Dalmia Bharat capac... |
Hurtado Vicuña on the verge of completing required divestment10 January 2018, Published under Cement NewsGrupo Hurtado Vicuña is expected to be soon completing the divestment of a part of Cementos Bicentenario (BSA) assets, one of the main conditions imposed by Chile’s Fiscalia Nacional Economica (FNE) and its anti-competition authority, TDLC, in terms of the company’s acquisition of Cementos Polpaico shares. Certain sources suggest that offers have been received for the BSA assets and that due diligence has started with a deal likely to be completed before the end of this month, reports El ... |
Cementir looks to withdraw from Italy20 September 2017, Published under Cement NewsCementir has provisionally agreed terms with HeidelbergCement for the sale of its Italian cement and ready-mixed concrete operations to Italcementi, subject to such a deal not being blocked by the competition authorities. Bearing in mind that Italcementi is the domestic market leader by a substantial margin approval may not be that easily obtained and may require some disposals to other parties. If concluded, such a deal would make Cementir even more dependent on the Nordic and Benelux m... |
Adelaide Brighton eyes additional assets21 August 2017, Published under Cement NewsAustralia's surging property market and healthy infrastructure projections is encouraging Adelaide Brighton to look out for further acquisitions. "From a demand point of view on the east coast, it’s hard to be pessimistic. The only way to put it is it’s very strong," Adelaide Brighton chief executive, Martin Brydon, told The Australian. The Melbourne residential market has also shown strong if unexpected demand. "It’s actually stronger than what we thought it would be even six months ago,... |
South Korea: Hyundai Cement auction set to raise KRW600bn09 December 2016, Published under Cement NewsThe auction of Hyundai Cement, preliminary bidding of which is scheduled for 16 December, is set to attract bids from multiple prospective buyers, with the assets expected to fetch up to KRW600bn (US$515m), reports Korea’s Pulse. Hyundai Cement currently supplies seven per cent of the domestic market, and the company’s location in the country’s interior makes it particularly attractive to Korea’s coastal cement producers, Ssangyong Cement Industrial Co, Tongyang Cement & Energy Co, and La... |
HeidelbergCement to sell US assets to Cementos Argos in US$660m deal18 August 2016, Published under Cement NewsHeidelbergCement has agreed to sell its plant in Martinsburg (WV), USA, and eight terminals to Cementos Argos for US$660m. The deal is subject to regulatory approval, but the Federal Trade Commission had ordered the disposal as a result of the Italcementi acquisition. HeidelbergCement said that it expected the transaction to be completed in the fourth quarter of 2016. The deal involves the disposal of the company's Lehigh and Essroc subsidiaries. Dr Bernd Scheifele, chairman of the Man... |