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Potosí cement plant build drained by issues with water supply 22 September 2017
Bolivia: Ramiro Heredia, the technology manager of Empresa Publica Productiva Cementos de Bolivia (ECEBOL), says that the company has an issue with the water supply to the new Potosí cement plant it is planning near Chuitara. The cement producer has asked the local government for help, according to the El Potosí newspaper. Once operational the plant will require 6.5l/s, although it will be able to cope with 3.5l/s during the construction phase. ECEBOL is also due to sign a contract with Empresa Nacional de Electricidad (ENDE) to provide electivity to the unit. Construction at the site is scheduled to start in the first quarter of 2018.
Blackstone buys Schenck Process 22 September 2017
Germany: Private equity company Blackstone has agreed to buy Schenck Process from IK Investment Partners. No further details, including the cost of the transaction, have been disclosed.
“Schenck is an innovative and unrivalled leader, and we see considerable opportunity to grow the business both organically and by acquisitions in its various end markets. We are excited to team up with management and accompany Schenck in the next stage of its development,” said Lionel Assant, Head of European Private Equity at Blackstone.
Detlef Dinsel, Partner at IK Investment Partners and advisor to the IK 2007 Fund said that Schenck had, “…transformed its business focus from a mechanical manufacturer to a service and integrated solutions provider, achieved significant growth by expanding the product portfolio and entering new markets both organically and through selected add-on acquisitions.”
Schenck develops and manufactures solutions for a wide range of industrial processes including weighing, feeding, conveying and filtration. With over 2300 employees worldwide and significant operations across Europe, North and South America, China, India and Australia, Schenck serves a diversified customer base across a variety of industries, including food, chemicals, mining and construction.
Vortex Global appoints Alpha Engenharia as Portuguese representative 22 September 2017
Portugal: Vortex Global has appointed Alpha Engenharia as its representative agent in Portugal. A subsidiary of the company Ana Beco Malheiro, Alpha Engenharia began activities in 2015. It provides technical and commercial assistance across industries in regards to automation, instrumentation, valves and accessories.
CRH buys Ash Grove Cement for US$3.5bn 21 September 2017
US: Ireland’s CRH has agreed to buy Ash Grove Cement for US$3.5bn. The American cement producer operates eight cement plants across eight US states, combined with ready mix concrete, aggregates and associated logistics assets across the US midwest. Once shareholder and regulatory approval is obtained the deal is expected to complete by the end of 2017.
"Ash Grove is an excellent addition to CRH's portfolio of businesses across North America as we seek to deploy our capital into high quality businesses that enhance our global asset base and provide opportunities to create shareholder value. We welcome the Ash Grove team to CRH and look forward to further developing our longstanding relationship as part of one company," said Albert Manifold, chief executive of CRH.
Before the purchase agreement Ash Grove Cement was the largest domestically-owned cement producer in the US. The company has operated for 135 years and over a century of this time it has been run by the Sunderland family.
Investigators question Lafarge Syria workers 21 September 2017
France: French investigators have interviewed three former Lafarge Syria workers as part of an inquiry in to the company’s conduct in Syria. A computer worker, an engineer and packing line worker at one of the company’s cement plants travelled from Syria to be questioned, according to the Agence France Presse. The trio are the first witnesses to be called by the judicial inquiry that started in June 2017. It is investigating whether the subsidiary of Lafarge indirectly paid armed groups, including the ‘Islamic State’ group, to keep its plant during the Syrian Civil War.