Cement News tagged under: divestment
Cemex finalises Pacific Northwest Materials divestment03 July 2017, Published under Cement NewsCemex SAB de CV has completed the divestment of its Pacific Northwest Materials Business through one of its US subsidiaries to Cadman Materials Inc, part of HeidelbergCement-owned Lehigh Hanson Inc. Pacific Northwest Materials Business includes seven aggregate quarries, five ready-mix concrete plants and three asphalt operations in Oregan adn Washington, USA. The company generated about US$110m revenues and about USS14m of EBITDA in 2016 with about 350 employees. The acquired aggregates ... |
Jaiprakash receives director approval to divest assets to UltraTech30 June 2017, Published under Cement NewsJaiprakash Associates said it received approval from its committee of directors to close the transaction for selling part of its cement business to UltraTech Cement for INR161.89bn. The deal will see the cement plants in Uttar Pradesh, Madhya Pradesh, Himachal Pradesh, Uttarakhand and Andhra Pradesh move to UltraTech. An addition unit, currently under construction in Uttar Pradesh, will become part of UltraTech for an additional INR4.7bn. The proceeds of this transaction will help t... |
ARM Cement to sell non-core unit03 May 2017, Published under Cement NewsARM Cement is to sell its fertiliser unit in a bid to raise cast to grow its core buisiness of cement, local media reports. The decision is part of the Kenyan company's aim to consolidate its business and focus on cost cutting, improving distribution channels as well as improving operational efficiencies. “Further, in order to remain focused on the cement business and to raise cash and release a significant amount of working capital locked up in Mavuno Fertilizers division, the co... |
Cemex04 April 2017, Published under Cement NewsCemex has agreed the sale of its operations in Bangladesh and Thailand to Siam City Cement for around US$53m. In Thailand there is an integrated works at Saraburi with a clinker capacity of 0.73Mta and a cement capacity of 0.85Mta. The Bangladesh operation consists of a grinding centre with a capacity of 0.55Mta. Cemex is also considering the sale of a minority stake in Cemex Holdings Philippines through a public offering and has lodged an appropriate application with the Securities & ... |
Cemex03 February 2017, Published under Cement NewsCemex has increased its offer for a 74.9 per cent interest in Trinidad Cement by 12.6 per cent to TTD5.07/share. Trinidad Cement and its subsidiaries operate principally in Trinidad & Tobago, Jamaica and Barbados. Cemex has raised some US$500m from selling its reinforced concrete pipe manufacturing business to the privately-held Quikrete Holdings of Atlanta (GA), USA with a potential US$40m to follow, depending on future performance. |
Cemex sells concrete pipe business01 February 2017, Published under Cement NewsCemex has completed the sale of its reinforced concrete pipe business to Quikcrete Holdings. The transaction was carried out for around US$500m, including a potential additional US$40m depending on future results. Cemex will use the funds to reduce its debts as well as for general corporate purposes. |
Cemex closes sale of Ventika stake16 December 2016, Published under Cement NewsCemex announced that the company closed the divestment of its interest in the Ventika wind farm project. The Mexico-based cement producer sold its minority interest for around US$35m, with the proceeds of the transaction used mainly for debt reduction and general corporate purposes. Ventika’s entire equity is now owned by IEnova, part of Sempra Energy. Cemex Energia will remain as the manager of the Ventika windfarm facilities. |
Chile: Melon SA divests mortar unit to ParexGroup02 December 2016, Published under Cement NewsChilean cement and construction materials producer Melon SA has agreed to sell its local mortar company Melon Morteros SA to ParexGroup, a French provider of specialty dry-mix solutions for the construction industry. The mortar unit is being sold for CLP4bn (US$6m), according to a filing with Chile’s securities and insurance regulator (SVS). ParexGroup will implement the transaction through its local subsidiaries, Parex Klaukol. SA and Parex Chile Ltd. |
HeidelbergCement completes sale of US assets to Cementos Argos01 December 2016, Published under Cement NewsHeidelbergCement has completed the US$660m sale of the Martinsburg cement plant and eight terminals to Cementos Argos. HeidelbergCement had been required to sell the West Virginia plant to comply with regulators following the acquisition of Italcementi. It is expected that the company will use the proceeds of the sale to pay down some of debt it took on to finance the acquisition process. “With the disposal of the US assets we fulfil the obligation of the FTC and improve the net financ... |
LafargeHolcim02 November 2016, Published under Cement NewsLafargeHolcim has agreed to sell its 54.3 per cent controlling stake in the Chilean cement producer Cemento Polpaico for some US$225m to Inversiones Caburga, which is controlled by the Hurtado Vicuña family. Cemento Polpaico owns one integrated cement works and two grinding centres with a combined cement capacity of 2.3Mta as well as 25 batching plants and some aggregates operations. LafargeHolcim Côte d’Ivoire was re-named from Socimat at the beginning of September. The company, which tr... |