Displaying items by tag: Acquisition

US: The Netherlands Verder Group has entered into an agreement to acquire US-based Microtrac and Japan’s MicrotracBEL from Nikkiso. Verder's Scientific Division will extend its product portfolio with product lines for particle characterisation by laser diffraction, dynamic light scattering and surface analysis.

“With Microtrac and MicrotracBEL two technological leaders in particle and surface analysis are united under the roof of Verder Scientific. We look forward to welcoming the Microtrac and MicrotracBEL teams to our group. Both companies will have access to additional resources to push international expansion and extend its innovative product range”, said Jürgen Pankratz, chief executive officer (CEO) of Verder Scientific.

Microtrac is a manufacturer of instruments for particle analysis that use laser diffraction and dynamic light scattering technologies. The instruments are used both for industrial applications and material research. Microtrac has two units in the US at Montgomeryville and York in Pennsylvania

MicrotracBEL is a manufacturer of instruments for surface area and porosity analysis applying adsorption technologies. The instruments are used in research intense fields for particle characterisation. MicrotracBEL has three units in Japan based in Osaka, Tokyo and Nagoya.

Microtrac and MicrotracBEL will maintain their headquarters in the US and Japan respectively and these locations will also be used to support further expansion of the Verder Group. The existing Mictrotrac and MicrotracBEL management team will continue to be in charge. No value for the transaction has been disclosed.

Malaysia: Hong Leong Group has offered to buy out the minority shareholders in Tasek. The offer values the cement producer at around US$160m, according to the Star newspaper. Hong Leong Group is controlled by Quek Leng Chan who owns an 80% stake in Tasek through Hong Leong Asia. If the minority shareholders accept the offer the the cement producer could become a private company. Tasek operates a 2.3Mt/yr integrated plant in Perak state.

Germany: Pollrich has acquired the fan product range and trademark of Rußwurm Ventilatoren. The latter company registered as insolvent in late 2018.

Following the takeover, Pollrich says it has become a leading supplier of heavy-duty industrial fans and has consolidated knowledge in the field. Customers will be able to continue to buy fans and spare parts for Ruwu and Meissner+Wurst products. Former company director Hans Jörg Rußwurm will remain the lead contact for queries regarding the takeover and the product range at a new sales office at Meitingen, Bavaria.

Oman: Raysut Cement Company has signed an agreement to buy Sohar Cement for US$60m. The transfer of ownership for all the shares in the company was completed in mid-May 2019, according to the Oman Daily Observer newspaper. Sohar Cement held a 70% stake in a 1.7Mt/yr grinding plant and UAE-based Fujairah Cement Company owned the rest of the shares.

Philippines: LafargeHolcim has agreed to sell its 85.7% share in Holcim Philippines to San Miguel Corporation for US$2.15bn. Holcim Philippines operates four integrated cement plants and one grinding plant. The deal is expected to close in the fourth quarter of 2019. It will be subject to regulatory approval.

“With the divestment of our activities in the Philippines, we are completing our exit from the increasingly hyper-competitive arena in South East Asia. While this decision is based on our strategic portfolio review, we have reached very attractive valuations allowing us to achieve a new level of financial strength,” said Jan Jenisch, chief executive officer (CEO) of LafargeHolcim.

Oman: Raysut Cement has confirmed its plans to buy a 1.7Mt/yr grinding plant owned by Sohar Cement based in Sohar. The acquisition also includes purchasing the company’s distribution network, according to the Oman Daily Observer newspaper. Sohar Cement holds a 70% stake in the business, with UAE-based Fujairah Cement Company owning the remaining share.

India: Sagar Cement has completed its acquisition of Jajpur Cements at Jajpur in Odisha at a cost of US$16m. It now plans to build a new 1.5Mt/yr cement grinding plant at the site for US$44m. The project is subject to regulatory approval but it is scheduled for completion by March 2021.

Malaysia/Singapore: Switzerland’s LafargeHolcim has signed a deal to sell its 51% stake in Lafarge Malaysia to YTL Cement for US$396m. Lafarge Malaysia operates three integrated cement and two grinding plants. With the divestment, LafargeHolcim will fully exit the Malaysian market. LafargeHolcim has also signed an agreement with YTL Cement Singapore for the divestment of its entire 91% share in Holcim Singapore.

YTL Cement is part of YTL Corporation, a Malaysian infrastructure conglomerate, which is active in cement production, construction, property development and utilities. The deal is expected to be completed within the second quarter of 2019. It is subject to approval by regulatory bodies.

India: Private equity company True North has purchased a 54% stake in Shree Digvijay for a reported US$17m from Brazil’s Votorantim Cementos. Other companies bought the rest of Votorantim’s 75% share in the business, according to Bloomberg. True North signed a deal to buy the cement producer in late 2018. Shree Digvijay operates an integrated cement plant at Jamnagr in Gujarat.

Italy: Buzzi Unicem has purchased the Testi integrated cement plant at Greve and the Borgo San Dalmazzo and Arquata Scrivia grinding plants in Piedmont from HeidelbergCement’s subsidiaries. The enforceable agreement is expected to be completed by the end of July 2019. No value for the deal has been disclosed. Buzzi Unicem said it was making the acquisitions as part of its plan to strengthen its position in the national market.