Cemex bolsters its European presence via Holcim deal
Cemex has reached an agreement to acquire some of Holcim’s assets for 70 million euros, a move aimed at strengthening the building materials company’s footprint in Europe.
“When finalized, this will be an important strategic step that should allow Cemex to improve its footprint in Europe, and it will consolidate our portfolio in the continent,” said Lorenzo H. Zambrano, Chairman and CEO of Cemex.
Specifically, Cemex is set to acquire all of Holcim’s assets in the Czech Republic, including a cement plant, four aggregates quarries and 17 ready-mix plants.
In Germany, Cemex is divesting its assets in the western part of the country to Holcim, including a cement plant, two grinding mills, one slag granulator, 22 aggregates quarries and 79 ready-mix plants.
Cemex and Holcim will combine all operations in Spain, with Cemex maintaining a 75% controlling interest over the combined assets.
All together, the transactions are expected to fuels gains in Cemex’s EBITDA of roughly $20-30 million. They are not final and are subject to the fulfillment of various conditions and due diligence. The company expects to finalize the deal in the fourth quarter of this year.
Cabot announces new Premium Wood Finish
Cabot Premium Woodcare has announced the arrival of its newest interior wood product. Premium Wood Finish uses a patented, water-based H20il formula that conditions, seals and protects in one step.
"This new product is a great way to transform furniture," said Russ Neale, Cabot’s marketing director. "Whether it’s a family heirloom that needs an updated look, a great thrift store find that needs a simple touch-up, or a piece of bare wood that needs a little life breathed into it — this product can do it all. It comes in a variety of vibrant colors that lay out smooth to show off the wood’s character, and dries quickly so you can display the finished piece in just six hours."
The product aims to reduce steps and man-hours, resulting in a streamlined application with a fast-drying formula (the finish dries in two and a half hours between coats and fully in six hours).
According to the company, Cabot Premium Wood Finish aims to protect better than leading all-in-one and water-based top coats, resisting damage from water rings and household chemicals like bleach, alcohol and nail polish remover.
Additionally, the product can be applied without a primer or conditioner, and it washes off with soap and water. Its colorfast pigments can be tinted to nearly 30 different colors.
Valspar taps Rimini Street to handle its ERP software
Valspar is trimming its IT budget and handing over the operations of its Oracle E-Business Suite to Rimini Street, Inc., a third-party support provider for enterprise software.
The move is aimed at generating savings for Valspar via its global IT budget and allow the company to dedicate more of its resources toward strategic growth initiatives.
“By partnering with Rimini Street, Valspar was able to reallocate a portion of its total global IT budget to growth initiatives with the stroke of a pen,” said Tom Grooms, Valspar’s VP and CIO. “Rimini Street’s total value proposition, the breadth and depth of all the expertise it brings and the willingness to help us be successful significantly enhances our strategic capabilities as an IT function. Rimini Street’s value is not incremental – it has a multiplier effect on our operations.”
Valspar has been involved with Rimini Street since 2012, though the relationship has grown beyond break/fix software support. Today, Rimini provides strategic guidance, support for customizations, interoperability, performance and interfaces.
“Rimini Street is pleased to be a valued partner to Valspar as it continues to implement its explosive international growth strategy and transform the coatings industry, while expanding and standardizing its Oracle E-Business Suite implementation around the world,” said Seth Ravin, CEO of Rimini Street.