Displaying items by tag: Sale
Nigeria: Lafarge Africa is considering raising up to US$248m in a share sale. The sale will take place in the fourth quarter of 2018 said chief financial officer Bruno Bayet whilst reporting the company’s half-year results, according to Bloomberg. Its sales rose by 5% year-on-year to US$448m in the first half of 2018 from US$427m in the same period in 2017. However, its earnings before interest, taxation, depreciation and amortisation (EBITDA) fell by 25% to US$76.4m from US$102m. The subsidiary of Switzerland’s LafargeHolcim blamed its falling earnings on poor performance in South Africa.
Çimsa Cement in talks to sell three plants
19 July 2018Turkey: Sabanci Group, the controlling shareholder of Çimsa Cement, is in talks to sell three of the cement producer’s plants. It is considering divesting integrated plants at Kayseri, Nigde and Ladik, according to sources quoted by Reuters. The company operates five integrated plants and a grinding plant.
Indonesia: Holcim Indonesia has refused to comment on local media stories that its parent company, LafargeHolcim, is planning to sell it. Both Kontan and CNBC Indonesia have reported that LafargeHolcim is looking for buyers for its subsidiary as part of its global divestment scheme. LafargeHolcim owns an 80% share in Holcim Indonesia.
Helwan Cement receives offers for white cement plant
20 June 2018Egypt: Helwan Cement has received several preliminary non-bidding offers for its white cement plant located in Minya Governorate. The subsidiary of Suez Cement and HeidelbergCement is now conducting financial, legal and technical due-diligence on the offers, according to Reuters. No values or timescale for the sale have been disclosed.
Belarus: The government is in talks with Ireland’s CRH to sell Krasnoselskstroymaterialy. Anatoly Kalinin, the Deputy Prime Minister of Belarus, told the Belarusian Telegraph Agency that the government wants US$200 for the state-owned cement producer but that CRH wants to pay less or buy a share of the business. Negotiations are on going.
McInnis Cement owners consider sale options
05 January 2018Canada: Caisse de dépôt et placement du Québec (CDPQ), the owner of McInnis Cement, has hired advisors to consider options for the cement producer including a sale or bringing in a new investor. No final decision has been made and the pension investment management company may decide to keep McInnis Cement, according to sources quoted by Bloomberg. CDPQ took control of the McInnis Cement project in 2016 following cost overruns and delays. The plant eventually opened in mid-2017.
Deadline extended for sale of Binani Cement
05 January 2018India: The deadline for bidding for Binani Cement has been extended until 15 January 2018 as the cement company takes potential buyers on a tour of its grinding plant in Dubai. The Rajasthan-based cement producer is being sold following bankruptcy proceedings, according to the Daily News & Analysis newspaper. The family-owned company with cement plants in Indian, China and the UAE has attracted a high level of interest from both international and local cement companies.
Carthage Cement goes on sale
20 December 2017Tunisia: The government and Bina, the controlling shareholders of Carthage Cement, are selling a majority stake in the cement producer via public tender. The two investors own a 50.52% stake of the company. The cement producer operates a 2.2Mt/yr plant at Djebel Ressas. Expressions of interest are being accepted until 16 February 2018.
Sandvik completes the divestment of Sandvik Process Systems
04 December 2017Sweden: Sandvik has completed the sale of its Sandvik Process Systems division to asset management company FAM AB. The divestment has agreed for around Euro500m in June 2017. Sandvik Process Systems manufactures industrial process solutions based on steel belts, steel belt based equipment and process solutions within adjacent technologies.
HeidelbergCement sells half of its Georgian business
13 November 2017Georgia: HeidelbergCement has sold 50% of the voting rights in its Georgian business to Cement Invest, an investment company jointly managed and owned by the Georgian Co-Investment Fund (GCF) and Hunnewell Partners. HeidelbergCement and Cement Invest will jointly control the resulting joint venture. The transaction will contribute in total about Euro115m to cutting HeidelbergCement’s net debt.
“The joint venture’s competitiveness will be improved with the modernisation of the Kaspi cement plant, where the construction of a modern dry kiln line already started in 2016 and is expected to be finalised by the end of 2018. The disposal is part of our portfolio review and optimisation with the goal to generate additional cash flow in order to support our disciplined growth and increase shareholder returns,” said Bernd Scheifele, chairman of the managing board of HeidelbergCement.
HeidelbergCement started operating in Georgia in 2006. The new joint venture operates three integrated cement plants, a cement grinding facility and a cement terminal on the Black Sea coast. The cement production capacity exceeds 2Mt/yr. A network of 13 ready-mixed concrete plants and two aggregate quarries supports the cement business.