Displaying items by tag: Schwenk Zement

Germany: Schwenk Zement’s 1.2Mt/yr Karlstadt cement plant in Bavaria, 1.0Mt/yr Allmendingen and Mergelstetten cement plants in Baden Württemberg and 0.86Mt/yr Bernburg cement plant in Saxony-Anhalt have all achieved the Concrete Sustainability Council (CSC)’s gold certification, enabling the use of their cements in concrete for CSC certified sustainable buildings. Schwenk building consultancy head Werner Rothenbacher said, “Schwenk is committed to sustainable cement production at all locations. More works will follow soon.” In addition to its cement plants, Schwenk operates numerous ready-mix concrete production facilities in Germany.

In 2019 20% of German new-builds were CSC certified.

Namibia: China-based West China Cement concluded a sale and purchase agreement for Germany-based Schwenk Zement subsidiary Schwenk Namibia for US$104m on 3 January 2020. The Nambian newspaper has reported that the deal is awaiting clearance from authorities. Schwenk Namibia holds a 70% stake in Ohorongo Cement. Singaporean authorities stopped the sale of Schwenk Namibia to Singaporean-based International Cement Group (ICG) in September 2019 due to the latter’s inability to cover the losses of the Namibian company.

Germany: Four of Europe’s leading cement producers have partnered to found and operate a 100% carbon capture and storage (CCS) plant at Schwenk Zement’s 1.0Mt/yr Mergelstetten plant in southern Germany. HeidelbergCement has announced that the catch4climate project will enter operation in 2020.

Namibia: Singapore’s International Cement Group (ICG)’s intended purchase of Schwenk Namibia for US$104m has fallen through. The company stated that it will not buy the subsidiary of Germany’s Schwenk Zement, whose 1.0Mt/yr total integrated capacity consists of Ohorongo Cement’s Walvis Bay plant, over four months ahead of the deal’s long stop date of 31 January 2020. The deal’s deadline had previously been extended from 30 June 2019 following the Singapore Exchange forestalled the deal due to ICG’s inability to pay for the unprofitable company.

Singapore/Namibia: International Cement Group (ICG) has extended the stop date of its agreement to buy Schwenk Namibia by six months to 31 January 2020. It follows the decision by the Singapore Exchange to block the proposed acquisition in June 2019 on the grounds that it did not meet the requirements for a ‘very substantial acquisition.’ ICG announced in March 2019 that it had arranged to buy a 100% stake in Schwenk Namibia for US$104m. Schwenk Namibia owns a 69.8% share of Ohorongo Cement.

Singapore: The Singapore Exchange has blocked the International Cement Group’s (ICG) proposed acquisition of Schwenk Namibia. It said that the transaction did not meet the requirements of a very substantial acquisition (VSA) because the target business was not profitable and because the buyer did not have sufficient cash resources to fund the purchase.

In order to approve the acquisition in the future the exchange requires: that ICG commissions implement anti-money laundering measures on any potential funds for the transaction; that it put into place ‘adequate’ internal controls and risk management systems for any of its operations in Kazakhstan, Tajikistan, Namibia and any other developing country; and that the audit committee uses external auditors.

ICG announced in March 2019 that it had arranged to buy a 100% stake in Schwenk Namibia for US$104m. Schwenk Namibia owns a 69.8% share of Ohorongo Cement.

Namibia: The Development Bank of Namibia (DBN) says it will consult the government about its minority stake in Ohorongo Cement following the purchase of a majority share in the cement producer by Singapore’s International Cement Group. International Cement Group acquired a 69.8% share in Ohorongo Cement from Germany’s Schwenk Namibia in March 2019, according to the Namibian newspaper. The DBN said that it originally invested in Ohorongo Cement to promote economic development in Namibia.

Latvia: Cemex Latvia will be renamed as Schwenk Latvija following its acquisition by Germany’s Schwenk in February 2019. In Sweden Cemex’s operations will be renamed to Schwenk Sverige, in Norway to Schwenk Norge and in Finland to Schwenk Suomi, according to the Latvian News Agency.

The Euro340m deal included one 1.7Mt/yr integrated cement plant in Broceni, Latvia, as well as four aggregates quarries, two cement quarries, six ready-mix concrete plants, one marine terminal and one land distribution terminal in that country. The assets divested also include Cemex’s approximate 38% indirect interest in a 1.8Mt/yr cement plant in Akmene in Lithuania. In addition, the exports business to Estonia is also included as part of the divestment.

Namibia: Singapore’s International Cement Group has acquired a 100% stake in Schwenk Namibia for US$104m. Schwenk Namibia owns a 69.8% share of Ohorongo Cement and a 100% share of alternative fuel supplier EFF, according to the Business Times newspaper. The deal is subject to shareholder and regulatory approval. Previously, a subsidiary of International Cement agreed to build a cement plant Almaty, Kazakhstan as part of a joint venture.

Europe: Cemex has signed a deal to sell its assets in the Baltic and Nordic countries to Germany’s Schwenk for Euro340m. The transaction is expected to complete within the first quarter of 2019, subject to regulatory approval.

The Baltic assets being divested consist of one 1.7Mt/yr integrated cement plant in Broceni, Latvia, as well as four aggregates quarries, two cement quarries, six ready-mix concrete plants, one marine terminal and one land distribution terminal in that country. The assets divested also include Cemex’s approximate 38% indirect interest in a 1.8Mt/yr cement plant in Akmene in Lithuania. In addition, the exports business to Estonia is also included as part of the divestment.

The Nordic assets being divested consist of three import terminals in Finland, four import terminals in Norway and four import terminals in Sweden.