Displaying items by tag: stake

Germany: Cemex has acquired a majority stake in the Berlin-based recycling company RC-Baustoffe to enhance its circularity business Regenera. The company processes construction, demolition and excavation materials. The acquisition integrates RC-Baustoffe with Regenera, allowing the facility to process up to 400,000t/yr, which will be turned into repurposed aggregates for concrete production.

CEO of Cemex, Fernando González, said “With acquisitions such as this, Cemex continues to strengthen its commitment to circularity through Regenera as well as promoting the world’s transition to a more circular economy. Construction and demolition materials account for more than 30% of global ‘waste’ streams and reintegrating these materials into the construction value chain can reduce the use of virgin raw materials."

Saudi Arabia: Doha Concrete Molds Factory (DCMF) has entered into a strategic partnership with Saudi Vitrified Clay Pipes (SVCP). Under the terms of the partnership, DCMF will acquire outstanding shares in precast concrete products company Saudi Land Factory Company for Cement Products (SLFCCP). Arab News has reported that that the partnership builds on a pre-existing memorandum of understanding (MoU) for DCMF to relocate Qatari production lines to SLFCCP’s plant, in exchange for a 55% stake in the latter.

Singapore: Malaysia-based YTL Corporation has concluded a conditional sale and purchase agreement for an 81% stake in NSL for US$169m. YTL Cement will launch a mandatory unconditional cash offer for all outstanding shares in NSL after completing the acquisition. NSL manufactures precast concrete components and operates an environmental services division.

Fiji: New Zealand-based Fletcher Building has agreed to sell its 50% stake in construction firm Higgins Holdings Fiji to Fiji National Provident Fund (FNPF) and Fijian Holdings for US$12.3m. BusinessDesk News has reported that the parties expect to complete the deal by early July 2024. The transaction includes a non-cash impairment of US$9.2m on the business.

Fletcher Building’s acting CEO Nick Traber said "We believe the partnership positions the business well to continue to play an important role in Fiji, focused on infrastructure development.”

FNPF CEO Viliame Vodonaivalu said “This co-investment not only diversifies our investment portfolio, but also creates mutual benefits for the fund in complementing our unlisted property portfolio and development pipeline. We are proud to collaborate with Fletcher, a longstanding leader in Fiji’s construction sector since 1971, renowned for their quality and dependable services. With a workforce of 700 Fijians, Fletcher stands as the largest construction company in Fiji, highlighting their corporate strength and reliability in the industry.”

India: Infra.Market has sold its minority stake in RDC Concrete, according to local press. Investor Nikhil Kamath led a US$20m funding round in the producer, including contributions from Capri Global Family Office, Sumeet Kanwar and Wear Steels. RDC Concrete previously divested itself of 10% of shares in RDC Concrete. RDC Concrete operates 100 ready-mix concrete batching plants in India. Infra.Market retains control of 100 ready-mix concrete plants through its other concrete subsidiaries.

Nikhil Kamath said "RDC Concrete has made remarkable progress in transforming the construction landscape in India with its ready-mix concrete. It is less polluting, expedites construction timelines, and significantly reduces waste and expense. We are actively seeking companies that ensure that India's growth and environmental sustainability progress hand in hand.”

Austria: Rohrdorfer’s proposed acquisition of a 49% stake in building materials producer Asamer has entered an extended review phase. The parties registered the deal with the Austrian Federal Competition Authority (BWB) on 10 January 2024. Due to competition concerns, the BWB applied to a court for an in-depth investigation on 21 February 2024.

Australia: CRH has concluded a deal to acquire the remaining 57% of stake in Adbri not owned by Barro Group for US$1.4bn.

CRH CEO Albert Manifold said “We are pleased to reach this important milestone in the potential acquisition of Adbri in partnership with the Barro family. Adbri is an attractive business with high-quality assets and leading market positions that complement our core competencies in cement, concrete and aggregates, while creating additional opportunities for growth and development for our existing Australian business. We look forward to working with the Barro family over the coming years to enhance the long-term growth and performance of Adbri.”

Ireland/UK: UK-based construction chemicals company Oscrete has raised its stake in its Northern Ireland-based distributor, Adcrete, to 90%. The group says that this will enlarge its customer base across Ireland in line with its 2024 strategic growth plan.

Director Scott Wilson said “The strengthened Oscrete business model and presence in Ireland will ensure the team has the infrastructure and the expertise to become the leading supplier of concrete admixtures and additives in the country.” He added “Our growth and turnover in Ireland has increased by 200% in the last four years and this growth serves to support the wider business operations.”

Estonia: Competition authorities have opened additional proceedings into Schwenk Zement subsidiary Schwenk Eesti's deal to acquire a majority stake in Betoonimeister. The parties concluded their agreement in late September 2022.

Betoonimeister supplies ready-mix concrete across Estonia from six batching plants in Jõhvi, Pärnu, Tapa, Tallinn and Tartu. It employs a total of 90 people.

Canada: Investment bank BDC Capital has invested US$3.7m in concrete testing technologies supplier Giatec. BDC Capital hopes that the investment will further the development of CO₂-reducing technology and AI-based concrete testing.

Giatec CEO Pouria Ghods said "The BDC Capital investment will propel Giatec's expansion into international markets and accelerate our innovation in CO₂-reducing technology, moving the concrete industry towards carbon neutrality. BDC has a long history of supporting emerging Canadian cleantech firms in their growth through exports, research and development. We at Giatec are looking forward to working with BDC in our mission to revolutionise the concrete industry and to create yet another success story for the BDC cleantech practice.”