Displaying items by tag: Acquisition

Switzerland: Hoffmann Green Cement Technologies has launched a new joint venture with a Switzerland-based construction industry partner. Hoffmann Green Cement Technologies will hold a minority stake in the new subsidiary, which will produce its reduced-CO₂ clinkerless cement at an upcoming plant. The producer says that the unit will apply the vertical production model of its existing H2 plant in France.

Co-founders of Hoffmann Green Cement Technologies Julien Blanchard and David Hoffmann said "After signing our first contract outside France more than a year ago, we are proud to accelerate our international development through a licensing model for Hoffmann Green technologies and processes. The opening of this first subsidiary in Switzerland proves the attractiveness of our carbon-free solution without clinker outside our borders, and constitutes a structuring step in the development of Hoffmann Green."

Belgium: Switzerland-based Holcim has agreed to acquire façade and external insulation systems producer Cantillana. Cantillana employs 200 people across nine plants in Belgium, France, Germany and the Netherlands. Its forecast full-year sales are Euro80m in 2022. Holcim says that the move is in line with its Strategy 2025 - Accelerating Green Growth target of expanding its solutions and products unit to 30% of group sales.

India: UltraTech Cement has declined to pay US$126m for a 3Mt/yr cement plant in Uttar Pradesh which it acquired from Jaiprakash Associates in 2017. The Economic Times newspaper has reported that the acquisition was part of a US$2.05bn deal covering 21.2Mt/yr-worth of cement capacity across six cement plants and five grinding plants. With environmental clearances pending on the Uttar Pradesh plant, the companies had agreed to a delayed final payment for the US$126m asset, to be made on 30 June 2022. UltraTech Cement says that it is unwilling to pay for the plant ‘in the present circumstances,’ given that the required clearances are still lacking. The group is reportedly seeking a revaluation of the plant down to US$78.3m.

Sweden: Germany-based Continental has signed an agreement to acquire belt systems supplier and service company NorrVulk. NorrVulk employs 16 people and is focused on the Northern Swedish market. It will join Continental’s 16-country, 5800-employee conveying solutions unit.

China: Mudajaya Group Berhad has concluded a deal to acquire Real Jade Limited for US$51m. The deal marks the Malaysia-based conglomerate’s first expansion into the Chinese market. Real Jade Limited operates the 1Mt/yr Shandong integrated cement plant. It employs 50 people in Shandong Province.

Denmark: Swisspearl Group has concluded an agreement to acquire fellow fibre cement board producer Cembrit. The Switzerland-based group said that it is creating the second-largest supplier of fibre cement products in Europe.

Turkey: Fernas Group has acquired Çimsa Çimento’s 1Mt/yr Kayseri and 1.2Mt/yr Niğde integrated cement plants and Ankara grinding plant, as well as ready-mix concrete assets in Aksaray, Ambar, Basakpinar, Cirgalan, Ereğli, Nevsehir and Kahramanmaras. Reuters News has reported the pre-tax value of the deal as US$110m.

Zimbabwe: Fossil Mines plans to keep Lafarge Zimbabwe publicly traded and to recapitalise it through investments after it completes its acquisition of the company. The Insider newspaper has reported that this will lead to an increase in the company’s cement production.

Zimbabwe consumed 1.4Mt of cement in 2021, of which 560,000t (40%) was imported. Switzerland-based Holcim agreed to sell its 76% stake in national number two producer Lafarge Zimbabwe to Fossil Mines earlier in June 2022.

Germany: Beumer Group has completed its acquisition of conveyor systems and loading technology supplier FAM Group.

Beumer Group says that the acquisition expands its portfolio and complements its competence in the project planning of plants with FAM Group’s know-how and global positioning throughout the entire value chain, including aftersales service.

Zimbabwe: Holcim subsidiary Associated International Cement has entered into a binding agreement to sell its 76% stake in Lafarge Zimbabwe to Fossil Mines for an undisclosed amount. Five bidders were competing for the cement company, according to the Business Times newspaper. These companies included three China-based companies as well as local ones. China-based Huaxin Cement was reportedly one of the Chinese bidders.