Cemex公司23億英鎊收購(gòu)英國(guó)RMC公司
英國(guó)RMC公司是世界最大的預(yù)攪拌混凝土公司,該公司在法國(guó)、西班牙、波蘭、馬來(lái)西亞等國(guó)家擁有1500多家混凝土工廠,400多家沙石采掘廠和50多家水泥廠,公司三分之二的收入來(lái)自歐洲,23%的收入來(lái)自美國(guó)。
Cemex公司的這次收購(gòu),是自2001年法國(guó)Lafarge公司47億英鎊收購(gòu)英國(guó)Blue Circle公司成為世界第一之后的建材行業(yè)最大的一次收購(gòu)。60歲的Cemex公司執(zhí)行總裁說(shuō)他希望這次的收購(gòu)能使Cemex的銷售收入每年增加 14%。
去年RMC公司在德國(guó)預(yù)混凝土行業(yè)失利,當(dāng)時(shí)德國(guó)水泥需求被長(zhǎng)達(dá)十年之久的建筑業(yè)衰退所牽制。在將一水泥廠出售給德國(guó)海德堡水泥公司之后,RMC公司就裁掉部分德國(guó)工作人員和一些工廠。RMC公司上半年在英國(guó)公路建筑方面的收入降低了63%,其它收入也由于供給問(wèn)題而下滑。
有相關(guān)人士說(shuō),表面上看RMC公司對(duì)其它公司沒(méi)有任何價(jià)值,Cemex公司大概是想擴(kuò)展其在英國(guó),德國(guó)和東歐的市場(chǎng)。
Cemex公司,控制了墨西哥60%的水泥市場(chǎng),擁有西班牙最大的兩家水泥公司,是世界第三大水泥公司。該公司總裁說(shuō),RMC公司在水泥、混凝土領(lǐng)域的地位將加強(qiáng)Cemex公司在這些地區(qū)的運(yùn)營(yíng),同時(shí)也將鞏固Cemex公司在全球建材行業(yè)的地位。
這是自1906年公司成立之后最大的一次收購(gòu)。Cemex公司在一份聲明中說(shuō)到,Cemex公司希望這次收購(gòu)能在今年年底完成。
原文:
Cemex to Buy U.K.'s RMC Group for 2.3 Billion Pounds
Cemex SA, the world's third-largest cement company, agreed to buy Britain's RMC Group Plc for 2.3 billion pounds ($4.15 billion) to double revenue and expand in concrete markets in Europe and the U.S.
``It's quite a nice offer, bordering on generous,'' said Yoon-Chou Chong, who oversees the equivalent of $5.5 billion at Aberdeen Asset Management, including 1 million RMC shares. ``It does feel like Cemex is paying a price to ensure a successful acquisition, and it shows the richness of the assets in RMC.''
Cemex is buying a business with $8.8 billion in annual revenue to help boost sales that grew only 2 percent last year. Revenue at RMC's biggest unit -- Europe excluding the U.K. and Germany -- increased by 5.8 percent in the first half. The company's German operation, hurt by a decline in construction demand, should return to profit next year, RMC said in March.
RMC operates more than 1,500 concrete plants, 400 sand and gravel quarries and 50 cement plants in countries including France, Spain, Hungary, Poland, Croatia, the Czech Republic and Malaysia. Two-thirds of RMC's 2003 sales came from Europe and 23 percent from the U.S.
`Cemex's agreed offer is the biggest in the building- materials industry since Lafarge SA of France acquired the U.K.'s Blue Circle Industries in 2001 for 4.7 billion pounds to become the No. 1 cement company. Lafarge wouldn't comment on the RMC purchase.
Switzerland's Holcim Ltd., No. 2 worldwide, has analyzed RMC several times and concluded ``that it's not a perfect match for Holcim and its strategy,'' said Roland Walker, a spokesman for the Swiss company, by telephone.
Zambrano, 60, said in a July interview that he was looking to make a purchase to help boost sales growth to as much as 14 percent annually.
RMC slid to a loss last year after incurring costs from its Readymix AG business in Germany, where cement demand has been curbed by a decade-long construction slump. The company has been cutting German jobs and plants after competition hurdles thwarted a plan to sell the unit to HeidelbergCement AG.
RMC's first-half profit fell 63 percent as a decline in U.K. road building hurt demand. Earnings were also crimped by supply problems at a cement plant in Rugby, central England.
``It seems unlikely that RMC can be worth more to anybody else,'' said David Taylor, a Teather & Greenwood analyst in London with a ``hold'' rating on RMC. ``Cemex presumably wants to extend its reach into the U.K., Germany and Eastern Europe. There is virtually no business overlap.''
Cemex CEO Zambrano transformed his company into the world's No. 3 cement maker from a regional, northern-Mexican business through acquisitions beginning with the purchase of two Spanish cement makers in 1992.
``RMC's strong positions in cement, aggregates and ready- mixed concrete will add to our existing operations in these areas and, combined with our global presence in cement products, enhance our leading position in the global building materials market,'' Zambrano, also Cemex's chairman, said in a joint statement with the U.K. company.
Biggest Purchase
The acquisition is the largest for Cemex since its creation in 1906, surpassing its $2.8 billion purchase of Houston-based Southdown Inc. in 2000. It will generate $200 million in annual savings, Cemex said.
Cemex, which controls about 60 percent of the Mexican cement market, acquired Spain's two largest cement producers -- Cia Valenciana de Cementos Portland SA and Sanson SA -- in 1992 and Venezuela's largest cement maker in 1994, helping fuel average annual growth of 18 percent over the past 15 years.
The company bought cement producers in Colombia and the Dominican Republic before making its first acquisition in Asia with the purchase of the Philippines' Rizal Cement. In 1998, Cemex acquired a minority stake in Indonesia's PT Semen Gresik.
Cemex said in the statement that it expects the RMC transaction to be completed by the end of this year. The boards of both Cemex and RMC approved the sale unanimously, it said.
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