Displaying items by tag: Deal

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.

India: Three new Indian concrete companies have separately secured agreements for the use of Finland-based Betolar’s Geoprime alkali-activated slag and fly ash additive. Reuters News has reported that the companies are Balaiji Cement Products, Shiv Tiles and SNEH Precast. Engineering company Godrej & Boyce has also signed a letter of intent with the supplier for pilot production of concrete blocks, paving slabs and other elements.

Betolar expects producers to achieve global concrete production volumes of 250,000t/yr of concrete containing Geoprime by 2023.

Australia/Canada: Fortex and Nidus3D have won contracts to become Denmark-based COBOD’s distribution partners for the Australian and Canadian markets respectively. Nidus3D previously printed a multi-unit residential building, the first of its kind in North America, using COBOD’s 3D printing equipment. Meanwhile, the supplier says that its first BOD2 3D printer available on the Australian market will arrive there in late 2022.

Regarding the Australian contract with Fortex, COBOD noted that it will make its equipment available on six different continents.

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.

Asia: FLSmidth says that it has won a contract to supply its low-NO_x ILC preheater, an OK raw mill, an OK cement mill and other equipment to a cement plant in Asia. FLSmidth will deliver the equipment in 2023. The total value of the deal is US$56.1m.

FLSmidth’s cement industry president Carsten Riisberg Lund said "This project showcases FLSmidth’s ability to deliver energy efficient technologies across the full cement flowsheet, and thereby support our customers in both increasing capacity and their sustainability efforts.”

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.

China: Anhui Conch Cement has engaged Conch IT Engineering for software platform supply and maintenance services for some of its subsidiaries. The supplier will provide design and technical services for the production process control system software, a sales and product dispatch system, production data uploading and a quality management system for clinker production lines, grinding units, aggregate, commodity concrete and technology modification projects. The value of the work is US$36m.

India: Holcim India subsidiary ACC has announced that industrial conglomerate Adani Group's open offer for Holcim's Indian business will open on 6 July 2022 and conclude on 19 July 2022. Live Mint News has reported that the parties expect the deal to subsequently close within 2022.

Ghana: Heidelberg said that it has signed an agreement with CBI for the acquisition of 50% of the latter’s shares. CBI is the parent company of CBI Ghana, which operates the 0.6Mt/yr Tema grinding plant in Accra. It is in the process of establishing a calcined clay plant at the facility. HeidelbergCement says that it and CBI will explore the possibility of further calcined clay projects in West Africa. Other investors in CBI Ghana include Denmark-based Investeringsfonden for Udviklingslande (IFU) and Norway-based Norfund.

HeidelbergCement’s existing Ghanaian susbidiary Ghacem operates 3Mt/yr-worth of grinding capacity at two plants in Accra and Takoradi.

HeidelbergCement managing board member Hakan Gurdal said “Characterised by high sustained market growth rates, Ghana is one of HeidelbergCement’s core markets in Africa. The new flash calciner in Ghana will be the largest worldwide, with a calcined clay production capacity of more than 400,000t/yr. Start of production is planned for 2024.” Gurdal concluded “We are committed to lowering our CO₂ footprint also in emerging markets.”

India: Holcim has agreed to sell its Indian business to industry, energy and ports conglomerate Adani Group for US$6.37bn. The assets consist of a 63% stake in Ambuja Cement, which in turn owns 50% of ACC, and a 4.5% direct stake in ACC.

ACC and Ambuja Cement employ 10,700 people and operate 31 cement plants in India. The deal will make Adani Group India’s second-largest cement producer.

Chair Gautam Adani said "With Holcim's global leadership in sustainability, we are acquiring some of the most efficient building materials operations in India, powered with clean technologies like heat recovery systems. We recognise that Ambuja and ACC operations are energy intensive and therefore, when combined with our renewable power generation capabilities, we gain a big head start in the decarbonisation journey that is a must for Indian industry."

Holcim says that its focus is now on expanding its solutions and products business. Reuters News has reported that the group plans to put the proceeds of the assets’ sale towards lower-carbon acquisitions. Its Indian operations contributed 26% of group CO₂ emissions.

Chief executive officer Jan Jenisch said "We will always make cement, but we will decarbonise cement.” He added “We are happy to build up other segments like building solutions and products."