Auctions, Used Equipment, Rental & Finance

UltraTech Cement in India has agreed to buy 21.2 million tonnes/year of cement capacity from Jaiprakash Associates (flagship of the Jaypee Group) for INR 159 billion (€2.13 billion US$2.38 billion).

The deal covers cement plants in Andhra Pradesh, Madhya Pradesh, Himachal Pradesh, Uttar Pradesh and Uttarakhand, but not the 1.2 million tonnes/year plant in Karnataka originally considered. This takes about INR 6 billion off the previously estimated transaction size.

Some 4 million tonnes/year the 21.2

In South Korea Pine Tree Investment Management and Eugene Group have failed a reported hostile takeover of conglomerate Tongyang.

The two companies have failed to secure the required number of shares for a special resolution at the general shareholders' meeting of Tongyang.

The conglomerate's businesses include asset management, life insurance and cement.

During the meeting, the two companies are said to have proposed to increase the number of board members in Tongyang from ten at present.

Euge

Lafarge Cements Morocco reported turnover up 5.1% to over MAD 5 billion (€458.38 million/US$516.53 million) in 2015, while net profit rose 6.5% to MAD 1.4 billion. The company is preparing to acquire Holcim Cement, valued at over MAD 9.1 billion, and completion of the project is scheduled for the third-quarter of 2016. Lafarge Ciments is pursuing its development plan with a project for a new cement plant in Agadir and a grinding facility in Laâyoune.

HeidelbergCement priced a Eurobond issue (ISIN XS1387174375) under its €10 billion EMTN (Euro Medium Term Note) programme with an issuance volume of €1 billion and a maturity date of 30 March 2023. The bond was issued at the upper end of the volume and the lower end of the coupon range. Demand was very high; the bond was more than three times oversubscribed. The seven-year bond bears a fixed coupon of 2.25%/year. The issue price is at 99.616%, resulting in a yield to maturity of 2.31%. The company says thes

For 2016, Indonesia’s Indocement Tunggal Prakarsa (Indocement) reported revenue of IDR 17.79 trillion (€1.2 billion/US$1.35 billion), down 10.9% from IDR 19.99 trillion generated in 2014.

Net profit for the country's second-biggest cement producer was at IDR 4.35 trillion compared to IDR 5.29 trillion in 2014.

Operating profit dropped by 15.7% from 2014 to IDR 5.05 trillion.

The cement company’s liabilities were at IDR 3.77 trillion, down 12.4% from IDR 4.3 trillion a year earlier.

Assets also

In 2016, PHP 2 billion (€38.51 million/US$42.1 million) has been committed by Holcim Philippines to raise its cement capacity in the country.

In 2015, 205 million bags of cement were offloaded by the company, an increase of 11% from 185 million bags offloaded a year ago.

According to Eduardo A Sahagun, country CEO and president of the company, the PHP 2 billion will be used to increase annual cement capacity from 8 million tonnes to 10 million tonnes by the end of 2016.

State cement company, Semen Baturaja, has reported net sales of IDR 1.46 trillion (€100.31 million/US$109.20 million) in 2015, up 20.2% from IDR 1.21 trillion a year earlier.

Comprehensive profit from continuous operations was at IDR 354.18 billion, up 5.4% from IDR 335.95 billion generated in 2014.

Gross profit was at IDR 493.57b while costs of goods sold rose 15.7% to DR 967.66 billion.

Liabilities as of end 2015 were at IDR 319 billion compared to IDR 2.9 trillion a year earlier.

Assets rose

Astec Industries reported fourth-quarter 2015 sales of US$215 million, down 10.2% on the previous year.

Domestic sales increased 5.7% to $160.3 million for the period from $151.6 million in the fourth-quarter of 2014, but international sales decreased 37.8% to $54.7 million during the period from $87.9 million for the fourth-quarter of 2014.

For 2015, net sales for the year were $983.2 million compared to $975.6 million for 2014, an increase of $7.6 million, and the domestic sales increased 10.4% to $

Italian cement manufacturer Italcementi registered a 3.5% year-on-year increase in consolidated revenues to €4.30 billion (US$ 4.84 billion) in 2015.

At the same time, EBITDA fell to €636.3 million from €656.4 million, and operating profit fell to €148.4 million from €234 million.

Net loss reached €69.3 million from €48.9 million, while operating cash flow improved by about €218 million.

At the same time, net debt equalled €2.17 billion from €2.16 billion.

The company announced that it is not