Displaying items by tag: Deal

US: Local press has reported that Peru-based UNACEM has completed its purchase of the Tehachapi cement plant in California from Martin Marietta Materials. UNACEM concluded an agreement to take over the plant from the North Carolina-based producer in August 2023, for a reported US$317m.

Philippines: Holcim Philippines has appointed I Squared Capital subsidiary Berde Renewables to build, maintain and operate two rooftop solar power plants, at its Bulacan and La Union cement plants, respectively. The solar power plants will have a combined capacity of 7.8GWh/yr and reduce Holcim Philippines’ CO2 emissions by 5500t/yr. The Business Mirror newspaper has reported that the projects advance the producer’s aim to reduce its energy-related CO2 emissions by 65% between 2018 and 2030.

Holcim Philippines president and CEO Horia Adrian noted the 20% reduction in overall CO¬2 emissions that the company has already achieved up to 2022 and said “This project further strengthens our ability to support Holcim's net zero direction and the country's nationally determined contributions.”

India: JK Cement has advanced its diversification into the energy sector with four new acquisitions. The Free Press Journal has reported that the cement producer has signed agreements to acquire stakes in CleanMax Matahari, Fourth Partner Energy, Nay Energy and Renewable Energy V.

India: Adani Group has reportedly indicated an interest in acquiring the 1.2Mt/yr Shahabad cement plant in Karnataka from Jaiprakash Associates. The plant is the subject of an as yet incomplete deal between Jaiprakash Associates and Dalmia Bharat for the transfer of the former’s cement and power plants for US$671m.

The Business Standard newspaper has reported that Adani Group is in talks with ‘several companies’ over possible bolt-on acquisitions, with a view to doubling its cement capacity to 140Mt/yr by the end of 2028.

Australia/New Zealand: Belgium-based Etex has signed an agreement with building materials company BGC to acquire the latter’s gypsum and fibre cement businesses. The fibre cement business includes the Canning Vale fibre cement boards plant in Western Australia. BGC also operates nine warehouses across Australia and New Zealand. Etex says that the deal expands its activities in the ‘attractive’ local market, with significant growth opportunities. Finalisation is expected in early 2024.

Etex CEO Bernard Delvaux said “This deal is a strategic opportunity for Etex to complement our footprint in Australia and further increase the accessibility of our products and services for customers. This will both reinforce our gypsum wallboard offering and position us well in the growing fibre cement activities through a broad product range and good channel access.”

France: Hoffmann Green Cement Technologies (HGCT) has signed a partnership deal with Point.P. Under the terms of the agreement, HGCT’s clinker-free cement products will be distributed to Point.P’s ready-mixed concrete (RMC) and batching plants. Point.P is aiming to reduce its CO₂ emissions linked to the use of cement it uses in ready-mix concrete, concrete blocks and precast elements, by 35% by 2030.

Julien Blanchard and David Hoffmann, co-founders of HGCT, said "We're delighted with this partnership with a major player like Point P. This is a major step forward for the marketing of our clinker-free low-carbon cements.”

France-based Saint-Gobain Building Distribution France, a subsidiary of the Saint-Gobain, is a distributor of building materials. Its main brands include Point.P, Cedeo, Asturienne, PUM, SFIC, La Plateforme du Bâtiment, Dispano, Panofrance, Clim+ and CDL Elec. It has a network of over 2000 sales outlets throughout France.

India: UltraTech Cement has bought a 29.8 hectare parcel of land in Andhra Pradesh’s Vizianagaram District from The India Cements. The Times of India newspaper has reported the value of the sale as US$8.44m. The India Cements’ vice chair and managing director Narayanaswami Srinivasan said that the company is looking for ways to monetise its assets amid on-going liquidity issues.

The India Cements’ sales of cement and clinker fell by 4.3% quarter-on-quarter to 2.66Mt in the three months to 30 June 2023 from 2.78Mt in the three months to 31 April 2023. It noted high fossil fuel prices and local overcapacity in the South Indian cement sector.

Russia: A court has accepted a request by the Prosecutor General’s Office to drop a claim for the appropriation of Russian assets of Germany-based Heidelberg Materials by the Russian government. The assets include shares in cement producers HeidelbergCement Rus and Shale Cement Plant Cesla, as well as minerals producers Gurovo-Beton and Syryevaya Kompaniya.

A lawyer for the prosecutor’s office said “The state's interests can be protected by other lawful means.”

Heidelberg Materials suspended new investments in its Russian business on 10 March 2022. The Prosecutor General’s Office subsequently requested its expropriation, following which a court froze the assets in August 2023. Interfax News has reported that representatives of Heidelberg Materials’ Russian business then made an undertaking to the Russian government, according to which they would maintain their prices, production volumes and number of employees.

India: Dalmia Cement (Bharat) faces a potential stumbling block to its planned acquisition of Jaiprakash Associates’ cement business for US$683m due to an on-going shareholder dispute at subsidiary Jaypee Bhilai Cement. The Economic Times newspaper has reported that a court has frozen Jaiprakash Associates’ 74% shareholding in the company, and ordered it not to create new third party rights. State-owned Steel Authority of India Limited holds the remaining 26% stake in the cement producer, which operates the 2.2Mt/yr Bhilai Jaypee grinding plant in Durg, Chhattisgarh.

Dalmia Cement (Bharat) and Jaiprakash Associates concluded multiple separate agreements for the transfer of ownership of Jaiprakash Associates’ cement subsidiaries on 26 April 2023. Besides Jaypee Bhilai Cement, these include cement plant and limestone mine operator JP Super and grinding plant operator Jaiprakash Power Ventures.

Saudi Arabia: Meyar Company has bought the Malham cement products plant in Riyadh for US$880,000. Local press has reported that the company will use the facility to target the cement products market in the city of Riyadh. A ready-mix concrete batching plant is also located at the site.