Cemex to Buy Indian Company for $550 Million

2010-11-23 00:00:00

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, the world's third largest cement producer, will buy the cement business of India's Murli Industries at a cost of 550 million US < FONT face = Verdana > yuan, 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 has a 3 million tonne per year cement plant in Maharashtra state in western India, the Economic < FONT face = Verdana > Times said. The company is planning to build two cement plants with an annual capacity of 3 million tons.

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Correlation

Cemex to Buy Indian Company for $550 Million

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.

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%

East China cement price index rose 5.00 points in a single day, Fujian, Zhejiang and Shanghai cement prices collectively pushed up 20 yuan/ton.

In the short term, the high cost of raw materials and fuels is still the main support for the upward price, and the better weather is also conducive to the moderate recovery of demand; however, this round is mostly the second round of pushing up within a month, and the actual transaction of the last round of small factories in Jiangsu is only 10-20 yuan/ton, and the increase of cooling and rainfall in the latter half of the year and the recovery of demand are still limited, so the landing range is likely to be discounted.