Displaying items by tag: Acquisition

Kenya: The Competition Authority of Kenya (CAK) has approved the acquisition of Cemtech by Simba Cement. CAK said that, as Cemtech had been dormant for a decade, its purchase would revive the company, create jobs and improve the economy in West Pokot County.

Simba Cement is a subsidiary of Devki Group and it trades under the National Cement brand. Cemtech is a subsidiary of India’s Sanghi Group. It has been attempting to build a cement plant in West Pokot since 2010. The acquisition includes Cemtech’s land, business intellectual property, business records, equipment, goodwill, licenses, stock and third party rights.

Data from the Kenya National Bureau of Statistics used by CAK showed the leading companies in the country’s cement sector by market share were: Bamburi Cement (33%), Mombasa Cement (16%), East African Portland Cement (15%), Savannah Cement (15%), National Cement (8%) and Athi River Mining Africa (13%).

US: Brazil’s Votorantim Cimentos has acquied United Materials, a producer of aggregates, concrete and building materials, for an undisclosed amount. The purchase was conducted by its subsidiary Votorantim Cimentos North America. United Materials operates four ready-mix concrete plants, one aggregate quarry and two building materials units in the western part of New York state. It has around 140 employees.

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.

UAE: Ras Al Khaimah (RAK) Cement has purchased the Newtech cement plant and the Al Banna quarry from Mohammed Ali Omar Saleh Al Buraiki for around US$123m. RAK Cement operates an integrated plant at Ras Al Khaimah.

Oman: Raysut Cement has signed a letter of intent with the shareholders of Sohar Cement to buy all of its shares. The terms of the acquisition are being discussed, according to the Oman Daily Observer newspaper. Sohar Cement runs a 240t/hr grinding plant at the Suhar Industrial Estate. Sohar Cement holds a 70% stake in the business, with UAE-based Fujairah Cement Company owning the remaining share.

Denmark: FLSmidth has acquired IMP Automation Group, a manufacturer of automated laboratory equipment for the mining industry with a presence in Australia and South Africa. The purchase covers over 130 IMP employees, including the managing director, Boyne Hohenstein. Links between the digital initiatives at both companies are intended to give end users better data on their mineral ores and assist in optimising the processing. The deal also includes a 50% share in a joint venture that IMP owns, providing observation and measurement products for automated labs.

"In FLSmidth we have found a partner with the right global sales network to take us to the next level. For years, we have combined profound laboratory process knowledge with automation skills and developed novel and innovative solutions. I am very excited that we now can reach a global audience with our offerings and solutions", said Hohenstein.

US/Germany: LafargeHolcim has acquired ready-mix concrete businesses in the US and Germany. On 1 February 2019 it acquired Transit Mix Concrete, a supplier of building materials in Colorado and subsidiary of Continental Materials Corporation, for US$27m. As part of the transaction, LafargeHolcim takes ownership of Transit’s seven concrete plants and a sand quarry. Transit Mix has more than 180 employees.

In January 2019, LafargeHolcim acquired the precast and ready-mix concrete businesses of Alfons Greten Betonwerk in northern Germany. Greten operates one precast and one ready-mix concrete plant in the state of Lower Saxony. Greten employs around 100 people.

“In line with our Strategy 2022 – Building for Growth, these acquisitions will generate synergies with LafargeHolcim’s existing operations. With these further bolt-on acquisitions we are delivering on our commitment to accelerate growth in the ready-mix concrete and aggregates segments,” said chief executive officer (CEO) Jan Jenisch.

Spain: Cementos Tudela Veguín has purchased a full stake in Caleras de San Cucao, a lime producer based in Asturias, according to the La Nueva España newspaper. No value for the acquisition has been disclosed. The company operates a lime plant at Llanera and it runs two lime quarries at Agüera and Las Regueras. Cementos Tudela Veguín has a lime production capacity of 0.6Mt/yr from its Tudela Veguín plant in Oviedo.

Cambodia: The cement arm of Thailand’s SCG plans to buy the remaining shares in Jumbo Barges, a water transportation and logistics company, for US$0.5m. Once completed, the cement producer intends to invest in the subsidiary to grow its logistics business in Cambodia including bulk cargo for both import and export. It also plans to use the company to provide logistics to neighbouring countries. The transaction follows two similar deals for logistics companies in Thailand.

Brazil: 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.