Cement News tagged under: Buzzi Unicem
Executive management changes at Dyckerhoff, Germany20 September 2013, Published under Cement NewsFollowing the 100 per cent buy-out of all minority shareholders by Buzzi Unicem SpA and the delisting of shares from the Frankfurt Stock Exchange, Dyckerhoff’s Supervisory Board has now approved to initiate the transformation of the company’s legal form from the present corporation (Aktiengesellschaft, AG) to a future limited liability company (Gesellschaft mit beschränkter Haftung, GmbH). The new legal form will become effective towards the end of March 2014 and will also involve changes in... |
A TEC supplies calciner upgrade to Cement Hranice, Czech Republic02 September 2013, Published under Cement NewsA TEC has been awarded a calciner upgrade contract from Cement Hranice, the Czech Republic unit of Buzzi Unicem, involving the the engineering, supply of equipment, steel structure, erection and civil works. With the combustion of alternative fuels, the necessary retention time for complete combustion in the calciner has been increased. The retention time in the new calcining system (hot gas chamber, calciner and post combustion chamber) will be approximately seven seconds. The new time all... |
Buzzi Unicem completes buy-out of Dyckerhoff shares28 August 2013, Published under Cement NewsBuzzi Unicem said on Tuesday that the squeeze-out of all outstanding ordinary and preferred shares in German-based Dyckerhoff AG still held by minority shareholders was recorded in the Commercial Register in Germany. As a result, as of 27 August 2013, the Italian cement major holds 100 per cent of Dyckerhoff. The payment to the minority shareholders of the cash compensation equal to EUR47.16 per share for a total EUR65.3m is expected to be carried out on 30 August 2013. The stock excha... |
New senior vice president for Buzzi Unicem USA21 August 2013, Published under Cement NewsGeorge Garcia has been promoted to senior vice president operations at Buzzi Unicem USA, effective from 1 July 2013. He will be based at Buzzi Unicem USA's Corporate Office in Bethlehem, Pennsylvania, and will report to Dave Nepereny, president and CEO of Buzzi Unicem USA. Since 2001, Garcia served as the plant manager at Buzzi Unicem's Chattanooga factory, a position he assumed after leading construction of the “new plant” there three years earlier. Having begun his career with Buzzi U... |
S&P puts Buzzi Unicem, Dyckerhoff ratings on credit watch09 August 2013, Published under Cement NewsStandard & Poor's has placed Buzzi Unicem’s rating on credit watch with negative implications, the Italian cement major announced in a statement. Buzzi Unicem's corporate rating is currently at BB+/Stable/B. The rating for Dyckerhoff AG, Buzzi Unicem’s wholly-owned subsidiary, has also been placed on credit watch. S&P said the decision was due to first-half results which were lower than expected in some key market, particularly Italy, Mexico and Eastern Europe. For the first half ... |
Buzzi Unicem hit by weaker markets05 August 2013, Published under Cement NewsBuzzi Unicem's first-half turnover declined by 5.7 per cent to EUR1273.7m and the EBITDA fell by 24.8 per cent to EUR150.7m as the Italian cement major was hit by weaker markets in Italy, Poland and Mexico. Excluding non-recurring items, the reduction would have been 21 per cent. The first half trading profit fell by 56.8 per cent to EUR37.8m and the interest charge was reduced by 31.9 per cent to EUR47.6m, with the pre-tax result swinging from a EUR22.6m profit to a loss of EUR8.3m. Afte... |
Dyckerhoff shareholders approve Buzzi offer16 July 2013, Published under Cement NewsThe shareholders' meeting of Dyckerhoff AG gave the go-ahead to the squeeze-out launched by parent company Buzzi Unicem SpA on all outstanding ordinary and preferred Dyckerhoff shares still in the hands of minority shareholders. Buzzi Unicem's acquisition of the remaining stock of Dyckerhoff and the following cash payment of EUR47.16 per share ( for a total amount of EUR65.3m) will become effective with the recording of such shareholders' resolution in the Commercial Register in Germany, ... |
Buzzi Unicem launches bonds, Italy09 July 2013, Published under Cement NewsItaly’s second-largest cement producer Buzzi Unicem launched on Tuesday the placement of equity-linked bonds worth EUR200m maturing in July 2019. The bonds may be converted into ordinary shares of the company, subject to approval of an extraordinary general meeting, according to a statement by Buzzi. They will be issued at par and be offered with a yearly coupon between 1.275 per cent and 2.125 per cent, payable semi-annually, it added. |
Buzzi Unicem is advancing in Russia and in the USA13 May 2013, Published under Cement NewsBuzzi Unicem's first-quarter turnover declined by 10.5 per cent to €503.14m and the EBITDA dropped by 51 per cent to €11.75m but advances were seen in Russia and the USA. The loss at the trading level was 29.7 per cent higher at €42.03m. Net financial charges declined by 7.3 per cent to €25.83m to give a seasonal pre-tax loss 7.1 per cent higher at €68.82m. Net debt at the end of March was 9.1 per cent higher at €1227m, giving a gearing level of 50.4 per cent compared with 47.1 per cent a... |
Dyckerhoff sees advances in Russia, USA volumes stable03 May 2013, Published under Cement NewsDyckerhoff Group, a Buzzi Unicem subsidiary, reported a decline in sales for the first three months to the end of March 2013 due to unfavourable weather conditions. In an advanced statement, the group said that total sales were down by 11 per cent. Sales were down in all regions in which the group operates except for Russia where volumes increased, and the USA where they remained almost stable. Group EBITDA fell by a total of EUR9m, of which EUR2m was due to a one-time negative effect. Th... |