Cemex: Intends to Buy Indian Company for $550 Million

2010-11-23 00:00:00

< P > < FONT face = Verdana > Cemex, the world's third-largest cement producer, will buy the cement business of India's Murli Industries for $550 million, the Economic Times reported.

< P > < FONT face = Verdana > Cemex finally made the offer after months of negotiations, the report said, citing a person familiar with the matter.

< P > < FONT face = Verdana > According to the above understanding, the purchase price has not yet been finalized, and the final price depends on the trend of cement prices in the market.

< P > < FONT face = Verdana > Murli Industries, which has a 3 million tonne per year cement plant in Maharashtra province in western India, is planning to build two cement plants with an annual capacity of 3 million tonnes each, the Economic Times said.

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Correlation

Cemex: Intends to Buy Indian Company for $550 Million

2010-11-23 00:00:00

CEMPI

100.41

+0.83 +0.83%

CONCPI

86.65

-0.03 -0.03%

CLKPI

102.88

+1.32 +1.30%

SPPI

41.98

+0.35 +0.84%

MORPI

71.83

0.00 0.00%

Jiangxi Provincial Department of Industry and Information Technology: Implementation Rules for Abolishing Capacity Replacement of Cement and Glass Industry in Jiangxi Province

On October 13, the Office of Industry and Information Technology of Jiangxi Province announced that due to the revision of the policy of capacity replacement in the cement and glass industry by the Ministry of Industry and Information Technology, the Office of Industry and Information Technology of Jiangxi Province decided to abolish the Rules for the Implementation of Capacity Replacement in the Cement and Glass Industry of Jiangxi Province (Gongxin Regulation No.2024) from the date of issuance of the notice, and to abolish the "Rules for the Implementation of Capacity Replacement in the Cement and Glass Industry of Jiangxi Province". The capacity replacement of cement and glass industry in the whole province will be handled in accordance with the relevant policies of the Ministry of Industry and Information Technology in the future.