The Antimonopoly Committee of Ukraine (AMCU) has set the transfer of 25-28% of shares in PrJSC Dickergoff Cement Ukraine to an independent investor as a condition for CRH to buy two Buzzi cement plants, the committee’s website reports.
As reported, in June 2023, the Italian cement producer Buzzi, listed by the National Agency for the Prevention of Corruption as an international war sponsor, through its subsidiary Dyckerhoff GmbH, reached an agreement to sell part of its Eastern European business to the Irish CRH group, including Ukrainian assets in the form of two cement plants – Volyn Cement (Zdolbuniv, Rivne region) and Pivden Cement (Vilshanske, Mykolaiv region).
The AMC has been considering CRH’s application for concentration since September 2023.
According to the published terms, CRH must, within nine months from the date of the announced concentration, sell or otherwise transfer shares (stakes) in the amount of 25% to 28% of the authorized capital to a third party not related to CRH UKRAINE B.V. with veto rights (to ensure blocking of key management decisions of the supreme management body of the holding company). It is expected that the European Bank for Reconstruction and Development will become such an investor, as in December 2023 CRH signed a mandate letter with the EBRD on the joint acquisition of the assets of the Italian company Buzzi in Ukraine.
In addition, CRH will also be obliged to report regularly to the AMCU for five years, in particular, on production volumes and selling prices in the domestic market.
It is expected that CRH will invest in the acquired plants, expanding and modernizing their production facilities, preserving jobs and improving working conditions for employees.
As reported, in 2023, the total volume of cement produced in Ukraine increased by 37% year-on-year to 7.4 million tons. In January-March 2024, the companies that are members of the Ukrcement association increased their cement production by 46.3% compared to the same period in 2023, up to 1 million 477.9 thousand tons of cement.
According to the Ukrcement Association, Ukraine’s cement production potential is currently 13.6 million tons of cement, while current financial and human resources suggest consumption of 12.5 million tons. He believes that despite the ability of Ukrainian enterprises to fully cover the market’s needs, it makes sense to plan to expand production.
According to Valeriy Korbut, director of Khmelnitskzalizobeton, one of Ukraine’s largest reinforced concrete plants, investments and modernization of enterprises always increase competition in the market. This, in turn, makes the product better and more affordable. That is why it is important to attract investments in the cement industry today to be ready for recovery.
Viktor Hushel, Commercial Director of Budindustriya-1, a concrete producer, states that, with a focus on recovery projects, it is necessary to invest in cement production right now.
CRH has been operating in Ukraine since 1999. Since November 2021, its cement enterprises in Ukraine have been operating under the Cemark brand: Podilskyi Cement JSC (Khmelnytskyi region), Cement LLC (Odesa), and Mykolaivcement PrJSC (Lviv region).
CRH’s separate business in Ukraine is the production of concrete and reinforced concrete products. PoliBeton Energo’s Bila Tserkva concrete goods plant is a specialized enterprise that produces power transmission towers. PoliBeton’s concrete hub in the north of Odesa was included in the CRH 2020.
Since 1999, the company has invested about $500 million in Ukraine. In particular, since the beginning of the full-scale invasion, CRH has invested $80 million, including $34 million in the construction of a cement terminal in Kyiv region.
CRH is the world’s leading manufacturer of building materials. The company employs about 71,000 people at its 3,200 facilities in 28 countries. It is the largest building materials producer in North America and Europe. The company is also represented in Asia. CRH American depositary shares are listed on the New York Stock Exchange.
CRH Group, the largest building materials manufacturer in North America and Europe, has invested $80 million in Ukraine over the course of the full-scale invasion. Guillaume Cavalier, President of CRH in Central and Eastern Europe, told Forbes Ukraine that the group’s total investments in Ukraine over 25 years of work amount to more than $500 million. According to him, in the context of rebuilding infrastructure in Ukraine, it is important to use cement produced locally, which will provide jobs and higher revenues to the state budget.
Cavalier emphasized that for the potential growth of the Ukrainian cement market after accession to the EU, it is important to invest in the expansion of production facilities now. He reminded that the Antimonopoly Committee of Ukraine (AMCU) is currently considering CRH’s application to acquire assets of Italian Buzzi in Ukraine – cement plants Volyn-cement (Zdolbunov, Rivne region) and YuGcement (Olshanskoe, Mykolayiv region).
As reported, on January 23, AMCU reported about the beginning of consideration of the case on concerted actions in the form of fulfillment of provisions on refraining from competition, enshrined in the concentration agreement between the Irish group CRH and Dyckerhoff GmbH, which own assets in Ukraine.
In June 2023, Italian cement producer Buzzi, listed by the National Agency for the Prevention of Corruption as an international sponsor of war, through its subsidiary Dyckerhoff GmbH, reached an agreement to sell part of its business in Eastern Europe to Irish group CRH, including Ukrainian assets in the form of two cement plants. The transaction is expected to close in 2024.
Later, in September 2023, the AMCU returned CRH’s application for concentration without consideration due to non-compliance with the requirements, and also noted that the group occupies about one-third of the Ukrainian cement market. In October of the same year, the agency reopened the case.
CRH has been operating in Ukraine since 1999. Since November 2021, its cement enterprises in Ukraine have been operating under the Cemark brand: Podolsk Cement JSC (Khmelnytskyi oblast), Cement LLC (Odessa) and Mykolaivcement PJSC (Lviv oblast).
A separate business area of CRH in Ukraine is production concrete and reinforced concrete products. PoliBeton Energo’s Bila Tserkva Reinforced Concrete Plant is a specialized enterprise that produces supports for power transmission lines. PoliBeton’s concrete unit in the north of Odessa joined CRH in 2020.
CRH is a leading manufacturer of construction materials in the world. The company employs about 71,000 people at its 3,200 plants in 28 countries. It is the largest producer of building materials in North America and Europe. The company is also present in Asia. American depositary shares of CRH are listed on the New York Stock Exchange.
The CRH Group, the largest manufacturer of building materials in North America and Europe, has invested $80 million in Ukraine during the full-scale invasion.
According to Guillaume Cavalier, President of CRH in Central and Eastern Europe, in an interview with Forbes Ukraine, the group’s total investments in Ukraine over 25 years of operation amount to more than $500 million.
According to him, it is important to use locally produced cement in the context of infrastructure reconstruction in Ukraine, which will provide jobs and higher revenues to the state budget.
Cavalier emphasized that for the potential growth of the Ukrainian cement market after joining the EU, it is important to invest in the expansion of production now. He reminded that the Antimonopoly Committee of Ukraine (AMCU) is currently considering CRH’s application to acquire the assets of Italian Buzzi in Ukraine – Volyn-Cement (Zdolbuniv, Rivne region) and Yugcement (Olshanske, Mykolaiv region).
As reported, on January 23, the AMCU announced the commencement of consideration of the case on concerted actions in the form of implementation of non-competition provisions enshrined in the concentration agreement between the Irish CRH group and Dyckerhoff GmbH, which own assets in Ukraine.
In June 2023, the Italian cement producer Buzzi, listed by the National Agency for the Prevention of Corruption as an international war sponsor, through its subsidiary Dyckerhoff GmbH, reached an agreement to sell part of its Eastern European business to the Irish CRH Group, including its Ukrainian assets in the form of two cement plants. The deal is expected to close in 2024.
Later, in September 2023, the AMC returned CRH’s merger filing without consideration due to non-compliance with the requirements, and noted that the group holds about a third of the Ukrainian cement market. In October of the same year, the agency resumed consideration of the case.
CRH has been operating in Ukraine since 1999. Since November 2021, its cement enterprises in Ukraine have been operating under the Cemark brand: Podilskyi Cement JSC (Khmelnytskyi region), Cement LLC (Odesa), and Mykolaivcement PrJSC (Lviv region).
CRH’s separate business in Ukraine is the production of concrete and reinforced concrete products. PoliBeton Energo’s Bila Tserkva concrete goods plant is a specialized enterprise that produces power transmission towers. PoliBeton’s concrete hub in the north of Odesa joined CRH in 2020.
CRH is the world’s leading manufacturer of building materials. The company employs around 71,000 people at its 3,200 sites in 28 countries. It is the largest manufacturer of building materials in North America and Europe. The company is also represented in Asia. CRH American depositary shares are listed on the New York Stock Exchange.
The head of the Office of the President of Ukraine, Andriy Yermak, has met with a delegation of the international group of companies CRH, which is the largest producer of construction materials in North America and Europe, the press service of the Office of the President said on Tuesday evening.
It is noted that the delegation was headed by the group’s chief operating officer Randy Lake, and also included Peter Buckley, president of CRH in Europe, and Guillaume Cavalier, director of CRH in Southern and Eastern Europe.
During the meeting Yermak emphasized that Ukraine is ready to facilitate investments from such powerful global players in every possible way and to discuss all necessary issues with foreign and domestic businesses. According to him, today it is important to understand what exactly needs to be changed to improve the business climate. Strong institutions are needed, and Ukraine even during the war continues reforms, heading towards full membership in the EU.
“For our part – the President, the Office, and the Government of Ukraine – we are ready to fully support you. We are interested that such large investors work in our country and have comfortable conditions. It is very important that despite all the circumstances, the war, you are here and ready to continue to work,” – said Yermak.
As reported, the Antimonopoly Committee of Ukraine AMCU on January 23 reported on the beginning of consideration of the case on concerted actions in the form of implementation of provisions on refraining from competition, enshrined in the concentration agreement between the Irish group CRH and Dyckerhoff GmbH, owning assets in Ukraine.
In June 2023, Italian cement producer Buzzi, listed by the National Agency for the Prevention of Corruption (NAPC) as an international sponsor of war, through its subsidiary Dyckerhoff GmbH, reached an agreement to sell part of its business in Eastern Europe to Irish group CRH, including Ukrainian assets in the form of two cement plants. The transaction is expected to close in 2024.
Later, in September 2023, the AMCU returned CRH’s application for concentration without consideration due to non-compliance with the requirements, and also noted that the group occupies about one-third of the Ukrainian cement market. In October of the same year, the agency reopened the case.
CRH has been operating in Ukraine since 1999. Since November 2021, its cement enterprises in Ukraine have been operating under the Cemark brand: Podolsk Cement JSC (Khmelnytskyi oblast), Cement LLC (Odessa) and Mykolaivcement PJSC (Lviv oblast).
A separate line of CRH business in Ukraine is production of concrete and reinforced concrete products. PoliBeton Energo’s Bila Tserkva Reinforced Concrete Plant is a specialized enterprise that produces supports for power transmission lines. PoliBeton’s concrete unit in the north of Odessa joined CRH in 2020.
CRH is the world’s leading manufacturer of construction materials. The company employs about 71,000 people at its 3,200 plants in 28 countries. It is the largest producer of building materials in North America and Europe. The company is also present in Asia. CRH’s American depositary shares are listed on the New York Stock Exchange.
The Antimonopoly Committee of Ukraine (AMCU) has returned without consideration the application of the Irish CRH group for permission to concentrate the assets of the Italian Buzzi in Ukraine, Forbes Ukraine reported citing the agency.
According to the publication, the application submitted by CRH did not meet the requirements of the committee. In addition, the AMCU pointed to the presence of an oligopoly in the Ukrainian cement market, with CRH already holding about a third of the market.
Interfax-Ukraine contacted CRH for comment.
As reported, Italian cement producer Buzzi has reached an agreement to sell its Ukrainian business and ready-mixed concrete assets in Slovakia to CRH for EUR100 million. The deal is expected to be completed in 2024.
Buzzi Unicem SpA (Italy) unites companies producing cement, concrete, sand, gravel, etc. The group’s core business is cement production, which is produced at its own facilities in Germany, the USA, Luxembourg, the Czech Republic, Poland, Russia and Ukraine. Buzzi’s Ukrainian subsidiary, Dickerhoff Cement Ukraine, operates branches based at Volyn Cement (Zdolbuniv, Rivne region) and Yugcement (Olshanske, Mykolaiv region). The group also operates in the ready-mix concrete sector in Kyiv, Odesa and Mykolaiv.
In Eastern Slovakia, Buzzi’s assets consist of six ready-mix concrete plants.
As reported, in March 2023, the National Agency for the Prevention of Corruption (NAPC) added the Italian cement producer Buzzi Unicem to the list of international sponsors of war. In Russia, Buzzi operates through SLK Cement LLC, which owns two cement plants, Sukholozhskcement and Korkino, a terminal in Omsk, and the Cemtrans transportation company. According to the NACP, the company is among the top five leaders in the Russian cement industry.
Ireland’s CRH Plc, the world’s largest manufacturer of building materials, which owned six construction mix plants in Russia, announced its withdrawal from the Russian market.
CRH entered the Ukrainian market in 1999 by acquiring the Kamianets-Podilskyi cement plant in Khmelnytskyi region. Currently, CRH also owns Odesa Cement Plant and Mykolaivcement (Lviv region).
CRH’s separate business in Ukraine is the production of concrete and reinforced concrete products. PoliBeton Energo, a Bila Tserkva-based concrete goods plant, is a specialized enterprise that produces power transmission towers. PoliBeton’s concrete hub in the north of Odesa joined CRH in 2020.
Italian cement producer Buzzi, through its subsidiary Dyckerhoff GmbH, has reached an agreement to sell part of its business in Eastern Europe to CRH, a leading provider of building materials solutions, for EUR0.1 billion, according to an official website on Tuesday.
As clarified in the release, the deals include a business in Ukraine and assets for the production of ready-mix concrete in Eastern Slovakia. Completion of the deal in Ukraine depends on obtaining the necessary regulatory approvals and is expected in 2024.
Buzzi Unicem SpA (Italy) combines businesses producing cement, concrete, sand, crushed stone, etc. The main activity of the group is the production of cement, which is produced in its own enterprises in Germany, the USA, Luxembourg, the Czech Republic, Poland, Russia and Ukraine. Dikerhoff Cement Ukraine PJSC, the Ukrainian branch of Buzzi, has branches set up at Volyn-Cement (Zdolbuniv, Rivne region) and YuGcement (Olshanske, Mykolaiv region) plants. The group also operates in the ready-mix concrete sector in Kiev, Odessa and Nikolaev.
Buzzi operates six ready-mix concrete plants in Eastern Slovakia.
It was reported in March 2023 that Italian cement producer Buzzi Unicem was listed by the National Agency for Prevention of Corruption (NAPC) as an international sponsor of war. Buzzi operates in Russia through OOO SLK Cement, which owns two cement plants, Sukholozhskcement and Korkino, a terminal in Omsk and the transport company Cemtrans. According to the NAZK, the company is one of the five leaders of the Russian cement industry.
Irish CRH Plc, the largest manufacturer of building materials in the world, in Russia owned six plants of building mixes, announced its withdrawal from the Russian market.
CRH entered the market of Ukraine in 1999, acquiring Kamenets-Podolsky cement plant in Khmelnitsky region. At the moment CRH also includes Odessa cement plant and Nikolaevcement (Lvov region).
A separate direction of CRH business in Ukraine is the production of concrete and reinforced concrete products. PoliBeton Energo’s Bila Tserkva Concrete Plant is a specialized enterprise that produces supports for power transmission lines. The PoliBeton concrete unit in the north of Odessa joined CRH in 2020.
