Displaying items by tag: Acquisition
Vicat completes purchase of majority stake in Ciplan
22 January 2019Brazil: France’s Vicat Group has completed its purchase of a 65% stake in Cimento Planalto (Ciplan). The transaction was structured through a reserved capital increase of Euro295m. Proceeds will be used to settle Ciplan's existing debt. Ciplan operates a 3.2Mt/yr integrated plant at Sobradinho in Bahia near to Brasilia. It also runs nine ready-mixed concrete plants and five aggregates quarries.
SCG buys out logistics companies
22 January 2019Thailand: SCG’s cement business is increasing its share to 100% from 50% in two companies in two logistics subsidiaries, Thai Prosperity Terminal (TPT) and Bangkok Interfreight Forwarding Company (BIFC). Both companies have a combined value of around US$4m. The transactions are expected to complete in the first quarter of 2019.
TPT provides commercial port operation management services for both import and export consisting of Phra Pradaeng Port and Map Ta Phut Port. BIFC provides water transportation services for containers and container moving services at the ports of TPT. Increasing its stake in the companies is expected to allow SCC to provide logistics services in the areas of port and freight forwarding and will enable it to use its own assets better and facilitate domestic port to port expansion.
Oyak Cement completes purchase of Cimpor
21 January 2019Portugal: Turkey’s Oyak Cement has completed it acquisition of Cimpor. The completion of the transaction follows the approval of the European Commission in mid-January 2019, according to the Expresso newspaper. The purchase includes three integrated cement plants, two grinding plants, 20 quarries and 46 ready-mix concrete plants in Portugal and Cape Verde.
European Commission approves Oyak acquisition of Cimpor Portugal
11 January 2019Belgium: The European Commission has approved the acquisition of sole control over Cimpor Portugal by Turkey’s Oyak. The commission ruled that there are no competition concerns between the cement producers given that they operate in different geographic markets. The deal was announced in late October 2018.
Russia: South Ural Mining and Processing Company has purchased a 77% stake in Gornozavodsktsement in Perm region. It intends to buy the rest of the company at a later date, according to the Kommersant newspaper. The acquisition was supported by Gazprombank.
Russia: The Federal Antimonopoly Service (FAS) has approved a merger of Pereval Pit and Angarsk Cement with Optic Holding. Siberian Cement will gain a 99.9% stake in Optic Holding following the deal, according to the AK&M Agency. The application to FAS was made in mid-October 2018. Angarsk Cement is part of Siberian Cement group.
Indonesia: Semen Indonesia has signed a sales and purchase agreement worth US$917m to buy a 80.6% share of Holcim Indonesia. The acquisition gives Semen Indonesia a production capacity of 53Mt/yr making it the largest cement producer in south-east Asia, according to the Antara news agency. Prior to the purchase it had a capacity of 38.2Mt/yr and Holcim Indonesia had a capacity of 14.8Mt/yr.
Sigit Wahono, the temporary head of the Semen Indonesia Communication Department, said that the company is planning to increase its exports from 10% of total sales at present. It exported 860,060t in 2017. To the end of October in 2018 it had exported 2.3Mt, comprising 1.25Mt of cement and 1.1Mt of semi-finished cement. Its main targets are Bangladesh and Sri Lanka, with the majority of imports coming from Indonesia but 0.7Mt coming from the group’s subsidiary in Vietnam.
Binani Cement renamed UltraTech Nathdwara Cement
14 December 2018India: UltraTech Cement has renamed its Binani Cement subsidiary UltraTech Nathdwara Cement. The leading Indian cement producer finally acquired Binani Cement in late November 2018 when the Supreme Court supported the National Company Law Appellate Tribunal’s (NCLAT) approval of its bid for Binani Cement following a legal fight with a consortium led by Dalmia Bharat group.
Binani Cement’s production assets include a 4.85Mt/yr integrated plant at Nathdwara and a 1.4Mt/yr grinding plant at Neem ka Thana, both in Rajasthan. The company also operates plants in China and the UAE. UltraTech Cement’s acquisition will increase its production capacity in the north of the country to around 24Mt/yr, increase its access to limestone reserves and offer it synergies in logistics and procurement.
JSW Cement targeting northern India after initial public offering
14 December 2018India: JSW Cement is planning to target the north and north-east of the country after a proposed initial public offering (IPO) in 2020. The company is looking for acquisitions in the region to meet its production capacity target of 20Mt/yr by 2020, according to a company executive quoted by the Economic Times newspaper. The cement producer has purchased two limestone mines via auction at Nagaur in Rajasthan and one in Gujarat. It is also considering building new cement plants near the mines. The company has a production capacity is 12.8Mt/yr at present.
Markus Schröder appointed director of Elogic Filtration
12 December 2018Germany: Markus Schröder has been appointed as the director of Elogic Filtration. It follows Elogic’s acquisition of Ruhr Montan Environmental (RME) and the incorporation of the company into its Elogic Filtration division. Schröder was the director of RME. Previous to this he was the director of Intensiv-Filter in Langenberg.