Cement News tagged under: merger
JK Lakshmi Cement to merge three subsidiaries02 August 2024, Published under Cement NewsJK Lakshmi Cement's board has approved the merger of three of the company's subsidiaries: Udaipur Cement Works (UCWL), Hansdeep Industries and Trading Co, and Hiddrive Developers and Industries. The appointed date for the merger is set for 1 April 2024. The Scheme of Arrangement is expected to become effective in the 2H24. Key details of the merger include the merger of Udaipur Cement Works, where shareholders of UCWL will receive four shares of JK Lakshmi Cement for every 100 shares held i... |
Southern Province Cement and Yanbu Cement Co sign an MoU for amalgamation24 June 2024, Published under Cement NewsAccording to Saudi Exchange (Tadawul), Southern Province Cement Co announced the signing of a non-binding Memorandum of Understanding (MoU) with Yanbu Cement Co on 23 June 2024 to evaluate the feasibility of merging the two Saudi Arabian companies. Both companies will commence due diligence, a comprehensive examination of operational, technical, financial, legal and actuarial aspects. This thorough approach ensures that all aspects of the merger are meticulously evaluated, providing a s... |
Companies circle for InterCement's assets26 February 2024, Published under Cement NewsCompanhia Siderúrgica Nacional (CSN) and a consortium led by Votorantim Cimentos , including Polimix and Buzzi, have made binding proposals for the purchase of the assets in Brazil of Loma Negra 's parent company InterCement Participações (InterCement), according to a local source. InterCement has commented that it has received a series of inquiries and expressions of interest in its assets during recent months. BTG Pactual Bank is assisting in evaluating strategic alternatives, such... |
Argos and Summit Materials to combine US operations08 September 2023, Published under Cement NewsCementos Argos has agreed to combine its operations in the USA with Summit Materials Inc , aiming to create a leading building materials platform on national scale. Cementos Argos (Grupo Argos) has entered into a definitive agreement with Summit Materials, under which they will combine their operations in the US to create a leading platform in the building materials industry. The agreement will have a component of stock consideration worth approximately US$2bn and cash payment of appro... |
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 ... |
Fauji Cement to become Pakistan’s third-largest cement player20 October 2022, Published under Cement NewsThe Fauji Cement Company Ltd (FCCL) is currently undertaking two expansions to become the second-largest cement producer in the north of Pakistan and third-largest cement player in the country as a whole. Top officials from the company disclosed this during a corporate briefing on 18 October discussing the FY21-22 financial result (the FY21-22 profit of the company was the highest in history) and future outlook. According to Topline Pakistan Research, the merger of Askari Cement and ... |
JSW Group links steel and cement for large project businesses08 June 2021, Published under Cement NewsFollowing the successful integration of its retail trade across steel and cement into JSW One in the east, the US$12bn JSW Group and India's largest steel producer will now have a single group interface for all its large project divisions in the steel and cement businesses. The Indian conglomerate has created Aikyam, a technology platform where details can be accessed by the managers of large project divisions from both these businesses to capitalise on the potential opportunities. Aikya... |
Votorantim and McInnis to combine Canadian operations11 December 2020, Published under Cement NewsSt Marys Cement Inc (Canada), a wholly-owned subsidiary of Votorantim Cimentos, and McInnis Cement Inc announced that they will combine their assets to create a combined entity to manufacture, distribute and sell cement in Canada and the USA. The joint venture will be owned by Votorantim Cimentos International (VCI), the international investments platform and wholly-owned subsidiary of Votorantim Cimentos SA, the sixth-largest cement producer in the world, and Caisse de dépôt et placement du... |
SLK Cement unifies assets10 July 2020, Published under Cement NewsDyckerhoff Korkino Cement has completed its merger with SLK Cement, as part of parent company Buzzi Unicem’s reorganisation of its Russian assets under the unified SLK Cement brand. According to SLK Cement’s CEO, Andrey Immoreev, the company will continue to improve its production process, product and client service. SLK Cement currently includes the subsidiaries of Sukholozhskcement, Omsk and Korkino Cement as well as the CemTrans transport company. The company supplies its products mai... |
UltraTech31 July 2019, Published under Cement NewsUltraTech Cement’s merger with Century Cement will reportedly be completed by September this year. Century’s cement business consists of three integrated units, located in Madhya Pradesh, Chhattisgarh and Maharashtra, along with a grinding plant in Bengal. Once completed the deal will boost UltraTech’s cement production capacity to more than 117Mta. “The transaction gives us an opportunity to strengthen our presence in the highly-fragmented, but competitive and fast-growing eastern and ce... |