Cement News tagged under: CRH

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CRH reported to carry out due diligence on HeidelbergCement's US assets

28 June 2016, Published under Cement News

Ireland-based building materials giant CRH is reportedly among bidders for the US assets put up for sale by HeidelbergCement to appease competition authorities over its Italcementi acquisition. CRH and US company Summit Materials are among bidders chosen to carry out due diligence for US$600m of US assets, according to Bloomberg. In April CRH’s CEO Albert Manifold had already indicated that the group was interested in the Germany-based cement producer.

Romania: sales and profits increase

07 June 2016, Published under Cement News

For the year 2015 three major cement producers in Romania saw an increase in both sales and profits. Holcim Romania increased its sales by 15 per cent in 2015, achieving a turnover of EUR253m (US$287.5m). The company also reported a net profit of EUR29m, 81 per cent higher compared to 2014. HeidelbergCement reported sales of EUR118m and a net profit of EUR25m, up 19 per cent from the previous year. CRH Romania, which took over Lafarge’s local operations, surpassed competitor Heidelb...

Romania: CRH Ciment sees profits rise 40% in 2015

27 May 2016, Published under Cement News

The Romanian subsidiary of CRH, CRH Ciment, has released performance figures for 2015, reports Romania Insider. CRH Ciment saw turnover reach EUR189m (US$211m) in 2015, up 23 per cent YoY. Profits climbed faster still, reaching EUR30.1m, up 40 per cent YoY. The business was acquired by CRH from Lafarge as part of the divestment process that accompanied the formation of LafargeHolcim. Holcim Romania remains the largest cement producer in the country. 

CRH interested in HeidelbergCement US and Belgian units

28 April 2016, Published under Cement News

CRH has expressed an interest in acquiring HeidelbergCement’s US and Belgian assets. The Germany-based company is expected to divest in such units to comply with the requirements set by competition authorities for its acquisition of Italcementi. "US cement is of interest to us and we're fully aware of the asset that may spin out of the potential acquisition," Mr Manifold said. "With regards to Belgium, it's a prime asset and certainly it would make a good fit with our businesses, providin...

CRH 1H16 earnings to reach US$1.1bn driven by US and Asian markets

27 April 2016, Published under Cement News

In its earnings statement for 1Q2016, CRH predicts that EBITDA will rise to EUR1bn (US$1.1bn) driven by growth in the United States and the Philippines. This is around five per cent up on last year, with the final figure to be announced when 1H2016 results are published on 25 August. Sales for 1Q2016 itself are up nine per cent YoY, with US sales up by 22 per cent and Asian sales up 12 per cent. European markets were reported to be flat.  Some EUR85m (US$96m) was spent on acquisitions ...

CRH faces investor opposition over CEO pay

26 April 2016, Published under Cement News

Institutional Shareholder Services (ISS) has told investors in CRH to vote against the remuneration plan for Albert Manifold, the firm’s chief executive, according to reports by thisismoney. The remuneration package will be voted on by shareholders at the company’s annual general meeting (AGM) on Thursday (28 April). Mr Manifold, who is Ireland’s best-paid corporate leader, saw his pay rise to EUR5.53m (US$6.25m) in 2015. Thisismoney reports that his basic pay is set to rise by a furth...

Ireland: cement firms make windfall profits from ETS permits

18 April 2016, Published under Cement News

CRH, Lagan Cement and Quinn Cement have together made EUR128m (US$145m) through the sale of permits under the EU emissions trading scheme (ETS).  On Sunday, the Irish Independent reported that the three firms were allocated credits on the basis of a prediction that demand would rise by 30 per cent between 2007 and 2012. The impact of the financial crisis instead caused demand to drop by over 60 per cent, allowing the companies to sell off their un-needed carbon credits. Donal O'Riain o...

CRH boss Ireland’s best-paid CEO

18 April 2016, Published under Cement News

Albert Manifold, chief executive of CRH, is Ireland's best-paid CEO, earning EUR5.53m a year (US$6.25m) according to a survey by the Sunday Independent. Mr Manifold earns over EUR1m more than the next best-remunerated boss, Kerry Group’s Stan McCarthy. CRH has expanded rapidly in recent years, taking on debt to purchase assets from LafargeHolcim as the latter shrank down its operations to satisfy regulators. CRH is now thought to be less keen on acquisitions as it works to integrate it...

Ten bidders chase LafargeHolcim Indian assets

14 April 2016, Published under Cement News

The sale of LafargeHolcim's Indian operations has attracted considerable interest, with the company having received bids from 10 groups interested in buying the assets. According to India's Economic Times, JSW Cement, Blackstone and Ramco Cements have all submitted bids, while the Irish Times notes that CRH, Piramal Group and Carlyle Group are also in the running. LafargeHolcim is selling three integrated plants and two grinding plants with a combined capacity of 11Mta, valued at aroun...

CRH outlook improves with construction activity

07 April 2016, Published under Cement News

Strong American and European construction activity has prompted JP Morgan Cazenove to hike its rating on cement maker CRH. The investment bank upgraded the London-listed group's rating from 'neutral' to 'overweight', as it believes the company's valuation is 'relatively attractive'. A respectable performance from the FY15 results together with a better-than-expected outlook commentary across the sector has encouraged analysts to see a bright future for CRH, which has been rapidly expanding...