Displaying items by tag: Acquisition
Saint-Gobain to acquire Hume Cemboard Industries
19 June 2023Malaysia: Saint-Gobain has signed a definitive agreement to acquire cement boards producer Hume Cemboard Industries. The France-based group said that the company will complement its existing lightweight product offering in Malaysia. Saint-Gobain expects to complete the deal before 1 October 2023.
Holcim acquires Minerales y Agregados
15 June 2023Guatemala: Switzerland-based Holcim has acquired mortars and adhesives producer Minerales y Agregados, Reuters has reported. Holcim described Guatemala as a 'high-growth market.'
Beumer buys the Hendrik Group
14 June 2023US: Beumer Group has acquired the Hendrik Group for an undisclosed sum. It plans to expand its portfolio of bulk material transport with a focus on alternative fuels and raw materials for both the cement and mining sectors. The technology it is buying will also give it capabilities in the bulk handling of hazardous materials.
Markus Schmidt, the chief executive officer of Beumer Corporation, said “The Hendrik Group specialises in the efficient and environmentally friendly transport of bulk materials. This aligns very well with our goals of bringing sustainable products to the market and improving our customers’ carbon footprint.”
The Hendrik Group is a US-based manufacturer of air-supported belt conveyors. It was founded in 1983 by Henk Hartsuiker and is based in Woodbury, Connecticut.
India: JK Cement has secured in-principle approval from its board of directors to enter into a share purchase agreement for 100% of shares in Toshali Cements. The Economic Times has reported the value of the agreement as US$19m.
Toshali Cements operates the 200,000t/yr Ampavalli cement plant in Odisha and the 435,000t/yr Choudwar grinding plant, also in Odisha. JK Cement said that its acquisition of Toshali Cements will help the group to expand into Eastern India.
India: Adani Group repaid loans worth a total of US$2.65bn on 6 June 2023, with a total interest payment of US$700m. Accord Fintech News has reported that the sum includes prepayment of loans worth US$700m used to acquire Holcim India, alongside other loans. This completes the group's prepayment of loans taken for the acquisition, which it completed in September 2022.
India: JK Organisation and Nirma Group have submitted non-binding offers to acquire 40 - 72% stakes in Sanghi Cement. The Economic Times newspaper has reported that promoters value the company at US$726m.
Shree Cement also previously entered non-binding talks to acquire Sanghi Cement on 29 April 2023.
Oman: Abra Holdings has submitted an offer to acquire a 15% stake in Oman Cement. Reuters has reported that the board of Oman Cement confirmed that it is not seeking competing offers.
FLSmidth acquires Morse Rubber
01 June 2023US: Denmark-based FLSmidth has acquired heavy-duty rubber products company Morse Rubber. Morse Rubber's competences include advanced moulding capabilities for rubber and composite mill liners, as well as screen media and various rubber and rubber ceramic wear components. FLSmidth says that the acquisition supports its growth strategy by strengthening its offering of mill liners, where FLSmidth has been capacity constrained in some regions.
FLSmidth's service line president Joshua Meyer said “With this acquisition we will be able to offer cost and quality competitive mill liners combined with local presence, local production and proximity to our North American and Latin American customers."
Hungary: The Hungarian National Professional Association of Construction Contractors (ÉVOSZ) has claimed that the government of Hungary has initiated negotiations to acquire Duna Dráva Cement and Holcim Magyarország. 24.hu News has reported that the construction industry is facing on-going cement supply issues due to a purported decline in domestic production. ÉVOSZ said that its members’ reliance on imports of cement has risen to 60% from 40%.
Duna Dráva Cement clarified that its joint owners, Germany-based Heidelberg Materials and Schwenk Zement, are ‘committed to their investment in Hungary and are not negotiating its sale.’
Meanwhile, Switzerland-based Holcim said "We are not in a position to comment on the news that the Hungarian state is negotiating with domestic cement producers and/or their foreign owners for the purpose of acquiring shares."
UK: Breedon Group has acquired concrete block producer Broome Bros., construction firm Minster Surfacing and concrete block and aggregates producer Robinson Quarry Masters. Breedon Group said that the businesses will strengthen its presence around Doncaster in South Yorkshire, in Antrim, Northern Ireland, and 'from the Midlands to London.'
CEO Rob Wood said “Many of our transactions come to us through our local knowledge and personal engagement with the owners. As a result, our active mergers and acquisitions pipeline has continued to yield high quality, earnings-enhancing opportunities that will enable us to progress our sustainable growth strategy." He added "Each of these independent family-run businesses is aligned with our vertically-integrated operating model, providing further opportunity to pull through upstream building materials while extending our downstream footprint to deliver profitable growth.”
Business Live News has reported that the group has also completed its transition to the London Stock Exchange from the AIM exchange. Breedon Group said that this will enhance its corporate profile by helping to attract greater international investment.