Cement News tagged under: corporate
China Shanshui Cement regains control of Shandong Shanshui Cement04 January 2016, Published under Cement NewsChina Shanshui Cement Group Ltd said Monday it has regained control of Shandong Shanshui Cement Group Co, but three former directors of Shandong Shanshui and a group of people continue to 'illegally occupy' the unit's head office and five factories. China Shanshui did not specify why Zhang Caikui, Zhang Bin and Huang Kehua have occupied the premises of Shandong Shanshui but said they have illegally retained important company documents. (Source: Dow Jones News Wires) |
Cimpor sells a minority stake in Paraguay producer31 December 2015, Published under Cement NewsCimpor has sold a 16 per cent stake in Ygauazu Cementos of Paraguay for a total of EUR32m, the company announced in a statement. The sale reflects a 14x EBITDA multiple. Cimpor retains a controlling stake with a 51 per cent participation, with the remaining share capital to be held by already existing Paraguayan partner Concret Mix. The sale of the minority stake is among many of the self-help measures being undertaken by Cimpor to strengthen its capital structure and increase profitabili... |
ARM in talks with international institutional investor31 December 2015, Published under Cement NewsKenyan producer ARM Cement is in ongoing talks with a strategic investor to support its expansion plan. The investment will be in the form of preference shares which may be converted into an equity stake. “ARM Cement Ltd is currently in discussion with an international institutional investor who intends to make an investment of up to US$125m (KES12.7bn) equity investment in the company through convertible preference shares,” said the firm in a cautionary notice. Further details of the i... |
New Cameroon plant agreement signed31 December 2015, Published under Cement NewsThe Switzerland-based Mira company is reportedly looking to construct a new cement plant in Douala, Cameroon, under an agreement signed with the government, local press have reported citing sources at the Ministry of Industry, Mining and Technological Development. According to the article published by StarAfrica, the company should benefit from the provisions on incentives for private investment in Cameroon. The new cement plant project is expected to have an initial capacity of 1Mta. |
Hahn & Company to buy Ssangyong Cement30 December 2015, Published under Cement NewsHahn & Co, Korea’s leading private equity group, has been selected as the preferred bidder for a 46.14 per cent stake in Ssangyong Cement. Hahn & Company already owns part of the company's stake so its actual target will be 36.8 percent. Ssangyong Cement was put on sale in October 2015. Hahn & Company and Hanil Cement were the strongest contenders, but the private equity fund was known to outbid the competition in the final round. The market value for the stake plus management rights is est... |
Cementir outbids Buzzi to buy Sacci30 December 2015, Published under Cement NewsShares of Italian cement group Buzzi Unicem fell after Cementir outbid its offer for the cement and ready-mix concrete business units of the Italian group Sacci SpA. Sacci has decided to include the EUR125m offer from Cementir Italia in the Sacci creditor protection plan, replacing a previous offer from Buzzi Unicem. Buzzi Unicem’s offer to purchase Sacci SpA had originally been made in March 2015 and had been approved by Italy’s Antitrust Authority in December. |
Cimpor sells quarries in Brazil30 December 2015, Published under Cement NewsPolimix Concreto, Ltda., a Brazil-based producer of cement and concrete products, has acquired the Guarulhos and Barueri quarries in Sao Paulo, Brazil from Cimpor - Cimentos de Portugal SGPS SA for BRL100m (US$25.35m). The transaction will allow Cimpor to strengthen its capital structure, increase profitability, and to focus on its strategic development. |
Shansui Cement management in turmoil30 December 2015, Published under Cement NewsChina Shanshui Cement Group, which last month defaulted on a CNY2bn bond and saw its entire board ousted early this month, says it has reported the loss of key documents, data and company stamps to Hong Kong Policy as management of the company was plunged into further turmoil. Meanwhile its Shandong unit warned it may default on another CNY1.8bn (US$277m) bond due to mature on January 21. The development suggested that the seven-month battle for control over the company has escalated as th... |
Jaypee Group’s cement assets up for grabs29 December 2015, Published under Cement NewsJaypee Group is planning for an outright sale of its 20Mt portfolio of cement assets worth an estimated INR190 (US$2.86bn) enterprise valuation. UltraTech, Dalmia Bharat backed by private equity investor KKR and Shree Cement have each been approached to take over Jaypee Group’s cement business. Other private equity firms are also reported to have been approached with a detailed information memorandum of operations. Jaypee Group, one of the top ten most indebted Indian conglomerates with a ... |
Spain: Matteo Rozzanigo appointed new president of AFCA24 December 2015, Published under Cement NewsMatteo Rozzanigo, CEO of the Spanish arm of FYM-Italcementi, has been appointed as new president of the Andalusian cement producers’ association (AFCA). Mr Rozzanigo graduated from the Universidad Politécnica de Milán as industrial engineer and held posts mainly in Italcementi as Near East Director and also held directorships in International Development and Near East Development. He succeeds Isidoro Miranda, CEO of Lafarge Holcim Spain. AFCA includes key Andalusian cement companies such ... |