Heidelberg Materials is in talks with Adani Group to sell its cement business in India

2024-10-11 09:12:31

Heidelberg Materials entered the Indian market in 2006 through a number of acquisitions. It currently operates four cement plants in India with a capacity of 12.5 million tonnes. Indian cement plants accounted for 7% of the total capacity of the building materials company last year, which also produces sand, gravel and additives such as concrete. In the cement industry, Heidelberg Materials ranks fourth in the world, behind two Chinese manufacturers (Conch Cement and CNBM) and the Holcim Group of Switzerland.

Heidelberg Materials' Indian cement business is getting a lot of attention

Photo: DPA

According to media reports, Heidelberg Materials is in talks with Indian company Adani to sell its cement business in India. The media, citing insiders, reported that the deal could be worth $1.2 billion. According to previous media reports, UltraTech and JSW Cement are also interested in the company's Indian business Heidelberg Cement India. Shares of the DAX member group opened more than 3% higher on Monday on the

news. Shares of Heidelberg Cement India, Heidelberg's Indian unit, had risen more than 14% to $675 million. India's cement industry is experiencing growing demand

due to increased government spending on housing and infrastructure. However, the recent price pressure has led to a decline in profits in the second quarter of Heidelberg Materials. The market is changing in terms of acquisitions. Billionaire Gautam Adani's Adani Group bought the Indian division of Swiss cement giant Holcim two years ago and has since acquired several local companies.

Heidelberg Materials entered the Indian market in 2006 through a number of acquisitions. It currently operates four cement plants in India with a capacity of 12.5 million tonnes. Indian cement plants accounted for 7% of the total capacity of the building materials company last year, which also produces sand, gravel and additives such as concrete. In the cement industry, Heidelberg Materials ranks fourth in the world, behind two Chinese manufacturers ( Conch Cement and CNBM) and the Holcim Group of Switzerland.

At its most recent analyst meeting in July, Chief Executive Dominik von Achten said India's market position was not yet perfect. In view of the consolidation trend, Heidelberg Materials remains flexible and is investigating all options, including further investment.

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Heidelberg Materials entered the Indian market in 2006 through a number of acquisitions. It currently operates four cement plants in India with a capacity of 12.5 million tonnes. Indian cement plants accounted for 7% of the total capacity of the building materials company last year, which also produces sand, gravel and additives such as concrete. In the cement industry, Heidelberg Materials ranks fourth in the world, behind two Chinese manufacturers (Conch Cement and CNBM) and the Holcim Group of Switzerland.

2024-10-11 09:12:31

On November 22, the 4th International New Material Industry Conference was held in Bengbu, Anhui Province, jointly sponsored by the People's Government of Anhui Province, the International Glass Association, China Building Material Group Co., Ltd. and China Baowu Iron and Steel Group Co., Ltd. The theme of this conference is "New Technology". New materials New Future. Li Zhong, Vice Governor of Anhui Province, delivered a speech and announced the opening ceremony. Zhou Yuxian, Secretary of the Party Committee and Chairman of China Building Material Group, and Alicia Duran, Chairman of the 26th International Glass Association and Chairman of the Organizing Committee of the United Nations International Year of Glass, attended the conference and delivered speeches. Seventeen academicians, including Gan Yong and Peng Shou, as well as relevant leaders and guests from provinces, cities, universities and enterprises, attended the meeting.