Cement News tagged under: mergers and acquisitions
Dalmia to acquire Jaiprakash Bokaro stake25 March 2014, Published under Cement NewsJaiprakash Associates Ltd (JAL) is to sell its 74 per cent stake in its Bokaro Cement joint venture to Dalmia Cement (Bharat). Bokaro Cement is a 74:26 per cent collaboration between JAL and the Steel Authority of India (SAIL). The acquisition involves a 2.1Mt cement unit at Bokaro situated in the eastern Indian state of Jharkhand. The joint venture has a 30-year clinker supply arrangement with JAL and a slag supply arrangement for the same period with SAIL. "With this acquisition, D... |
Sagar denies Vicat buy-out talks20 March 2014, Published under Cement NewsSagar Cements Ltd has denied reports that it is in talks to sell its 47 per cent stake in its Vicat Sagar joint venture. The Economic Times newspaper earlier reported, citing unnamed sources, Vicat had started talks with Sagar to buy out its Indian partner in the joint collaboration which started production last year. "We wish to deny the contents relating to our company in the said news item, which are speculative in nature," Sagar Cements said in a statement to the stock exchanges. |
Lafarge reportedly attracting bids for Pakistan unit12 March 2014, Published under Cement NewsLafarge is reportedly attracting bids for its Pakistan unit, with the country's leading producer, Lucky Cement, said to be among companies competing for the assets. Potential acquirers have submitted bids to Lafarge, according to reports by Bloomberg who cited a source familiar with the matter. Lafarge Pakistan Cement operates a 2.05Mta plant in the Punjab province. |
Jaypee reportedly in talks to sell Panipat grinding unit11 March 2014, Published under Cement NewsHolcim, via its ACC arm, is in preliminary acquire the Jaypee Group’s grinding unit in Panipat, Haryana state, two sources familiar with the situation told the Economic Times of India. The move would expand Holcim’s presence in the north of the country. ACC has a cement plant in nearby Himachal Pradesh, and if JP’s grinding unit is absorbed it would be “beneficial logistically and even in terms of costs,” the ET quoted one source as saying. A domestic player based in the north of the count... |
Vulcan Materials Florida asset sale complete10 March 2014, Published under Cement NewsVulcan Materials Co has concluded the sale of its cement and concrete businesses in the Florida area to Cementos Argos SA for US$720m in cash. Under a separate supply agreement, Vulcan will continue to provide aggregates to the divested concrete facilities, at market prices, for a period of 20 years. "We are pleased to have successfully completed the transaction with Argos and to be working with Argos to supply aggregates to the facilities going forward," said Don James, chairman and CEO of... |
Chettinad Cement in acquisition talks - report10 March 2014, Published under Cement NewsChettinad Cement is to acquire Anjani Portland Cement, according to local press reports. Citing sources familiar with the situation, Business Line India reported that the deal is expected to be formalised soon. The acquisition would give Chettinad Cement a company a significant presence in the Andhra Pradesh market. Anjani Cements has over 1.2Mta capacity in its two plants in Nalgonda district of Andhra Pradesh. It also has plans to establish a greenfield unit in Karnataka. |
India Cements approves scheme of amalgamation26 February 2014, Published under Cement NewsIndia Cement has informed the Bombay Stock Exchange that its board of directors has approved a scheme of amalgamation of its subsidiaries Trinetra Cement (TCL) and Trishul Concrete Products Ltd (TCPL), effective 1 January 2014, subject to approval from the relevant authorities. |
India: UltraTech in talks to acquire further Jaypee assets – report21 February 2014, Published under Cement NewsUltraTech Cement is in preliminary talks to acquire the Jaypee Group’s cement assets in Solan, Himachal Pradesh state, according to local media citing two sources familiar with the situation. The assets include an integrated cement plant and a grinding and blending unit. Two European companies were also reported to be in the race to but talks have have failed, one of the two people, a senior executive at one of the companies, said. In September 2013, UltraTech acquired Jaypee’s cement as... |
China expected to announce relief measures to stimulate consolidation20 February 2014, Published under Cement NewsChina's State Council is expected to release specific measures to stimulate cement industry consolidation to address three key areas. A report published by China Perspective, states that HSBC anticipates that the government may strengthen financing support for the shakeup, including bank loans and equity placement or bond issuance from secondary market. Secondly, inefficient approval process may be simplified by the government, especially for cross-region deals. Finally, the governmen... |
Buzzi in strategic agreement with W&P Cementi19 February 2014, Published under Cement NewsBuzzi Unicem is paying some EUR22m for a 25 per cent stake in Salonit Anhovo, the leading cement producer in Slovenia with an capacity approaching 1.4Mta and for a 25 per cent interest in Wietersdorfer & Peggauer's Italian subsidiary W&P Cementi. As part of the same deal, Buzzi Unicem is receiving EUR22m from W&P Cementi for the Italian cement major’s 0.3Mta cement works at Cadola (Italy) and the right to acquire the 0.4Mta Travesio (Italy) cement plant within the next five years. ... |