Malayan Cement

Malayan Cement To Acquire YTL Cement’s Malaysian Cement and Ready-mix Concrete Operations

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Malaysia: YTL Cement Bhd, a subsidiary of YTL Corp Bhd, today inked an agreement to sell its entire cement and ready-mixed concrete operations in Malaysia to its 76.98%-owned subsidiary Malayan Cement Bhd, for RM5.16 billion in a cash and stock deal.

In the press statement, under the agreement, Malayan Cement will acquire 12 companies under YTL Cement. All of these companies have an established track record of operational profit.

Source: The Edge Markets

Semen Indonesia

Semen Indonesia To Exports Up To 1Mt To North America In 2021

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Indonesia: Semen Indonesia has detailed its plans for future exports of cement to North America. It was reported in The Investor Daily newspaper that the producer and subsidiary Solusi Bangun Indonesia will target 0.5 – 1Mt of cement exports to North America in 2021, according to president director Hendi Santoso. The export plans will be carried out in partnership with Japan-based Taiheiyo Cement, which already has a US market presence and owns a 15% stake in Solusi Bangun Indonesia. Hendi said that the move aims to ‘cushion’ the decline in domestic cement sales, down by 28% bulk and 13% bagged year-on-year in 2020. The company successfully exported cement to Australia, Bangladesh, China, Fiji and Sri Lanka in 2020.

President commissioner Rudi Antara said, “The Covid-19 outbreak still colours our lives. There is no other choice but to increase business efficiency and the top line outside of our main markets.”

Source: Global Cement