Cement News tagged under: divestment
FLSmidth looks at possible divestment options in Cement business30 January 2024, Published under Cement NewsFLSmidth will explore the available divestment options for its Cement business to maximise the division’s full potential and strengthen the market leading position of its Mining business. Over the past year, FLSmidth has simplified and rightsized the Cement business to further strengthen its market-leading position, improve profitability and make it fit-for-purpose with a strategic focus on the core products and services required in the cement industry. The company says it continues to bel... |
PPC concludes 51% CIMERWA stake disposal29 January 2024, Published under Cement NewsPPC has concluded the sale of its 51 per cent stake in CIMERWA , Rwanda. The South Africa-based cement producer sold its shareholding for US$42.5m to National Cement Holding Ltd. The sale enables PPC to focus on its core domestic market, where it sees opportunities to improve profitability and secure a more sustainable return on capital, reports The Chronicle. In a notice to shareholders, PPC Chief Executive Officer, Matias Cardarelli, said: "I am pleased with the timely completion of t... |
FLSmidth sells MAAG to Solix23 January 2024, Published under Cement NewsFLSmidth Cement sold its MAAG gears and drives business to Sweden-based investment company, Solix Group AB. The transaction is expected to close during the 1Q24 and includes all related assets, including intellectual property, technology, employees and customer contracts. The divestment of the MAAG business is in line with FLSmidth Cement’s GREEN’26 strategy, which in combination with a greater strategic focus on the Service business includes focussing the product portfolio on the core tec... |
InterCement completes sale of Africa businesses28 December 2023, Published under Cement NewsInterCement Participações SA has announced that the divestment of its businesses in South Africa and Mozambique – collectively known as the ‘Africa Business’ – to Huaxin Cement Co. Ltd (China), has been concluded upon receipt of the provisional price of USD231.6m. As provided for in the previously executed Stock Purchase Agreement, the provisional price will be adjusted in due course considering net debt, other customary adjustments and working capital levels of the Africa Business. |
Heidelberg Materials sells Gambia terminal22 August 2023, Published under Cement NewsHeidelberg Materials has completed the divestment of its Gambian business with the sale of its cement terminal in Banjul to B5 Plus for an undisclosed sum. The divestment is part of Heidelberg Materials’ ongoing portfolio optimisation focussing on the most promising and strongest market positions. In 2021 Heidelberg Materials had already sold its subsidiary Leocem in Sierra Leone. Going forward, the buildings material producer will serve its west African customers through its Benin, Bur... |
InterCement assets in Brazil and Argentina are on other players' radar21 July 2023, Published under Cement NewsAccording to Valor, InterCement assets are being valued by local and global players. The operations of Loma Negra, Argentina, are being looked at by CEMEX , Pacasmayo and Argos . Loma Negra has nine plants and 45 per cent of the market. According to Valor, the Brazilian operation could raise the interest of Buzzi, Vicat, Votorantim, CSN, Titan and Mizu. However, no official comment has been made from the parties in the article. In Brazil InterCement has a total production c... |
FLSmidth sells AFT filter media business14 July 2023, Published under Cement NewsFLSmidth has sold its filter media business, AFT®, to the Micronics Engineered Filtration Group. AFT was started by FLSmidth in 1999 and was known previously as Advanced Filtration Technologies. The acquisition of AFT significantly expands Micronics’ portfolio of engineered filtration solutions to better serve customers’ baghouse filtration needs in industries such as cement, lime, coal-fired power utilities, energy from waste, co-generation, mining, and minerals, where the demand for high-t... |
Heidelberg Materials' divestments and merger ripples28 April 2023, Published under Cement NewsHeidelberg Materials has been looking to simplify its portfolio and reposition the company on a net zero path. This has seen divestment and merger ripples recently reach the cement markets of Georgia and Tanzania. Creating funds to reallocate for investments in the circular economy and the wider building materials sector has seen Heidelberg Materials start to accelerate divestment activity this year. The group's divestment of its eastern European joint venture in Georgia, where it held a ... |
PPC seeking buyers for CIMERWA stake21 March 2023, Published under Cement NewsSouth Africa-based PPC is looking to sell its shareholding in Rwandan cement producer CIMERWA . “PPC is selling its 51 per cent stake in CIMERWA and the government will discuss if it is able to buy the stake,” Rwanda Development Board CEO, Clare Akamanzi told a news agency. “PPC is looking for buyers.” A sale of its stake in CIMERWA would enable PPC to focus more on its South African core operations and further reduce debt. CIMERWA operates a 0.6Mta integrated cement plant in Bugar... |
Oman Investment Authority starts sale of Oman Cement Co to Huaxin14 March 2023, Published under Cement NewsThe Oman Investment Authority (OIA) has started the process for divesting its majority stake in Oman Cement Co. Ibrahim bin Said al Eisari, director general of private ownership at OIA, said: “This exit comes in accordance with a plan pursued by OIA aimed at achieving a number of goals, including attracting foreign investment to the sultanate. This will contribute to achieving economic diversification and transfer of modern technology to the targeted sectors.” OIA will sell its entire sha... |