Cement News tagged under: CRH

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Ireland: dawn raid on CRH breached CCPC's warrant

06 April 2016, Published under Cement News

 A  "dawn raid" last year at CRH's Irish Cement plant in Drogheda, by state investigators investigating alleged breaches of competition law, breached the terms of the warrant by seizing the contents of a senior manager's email account. The Irish Times reported that personal correspondence of Seamus Lynch, the head of CRH's businesses in Ireland and Spain, was taken by the Competition and Consumer Protection Commission (CCPC), but the High Court has ruled that this should not have be...

Deadline nears for LafargeHolcim India assets bids

05 April 2016, Published under Cement News

Advisors to the sale of LafargeHolcim's 11Mta Indian cement production capacity say that they expect to receive seven to eight bids before next week's deadline. The sale - which was a required by competition authorities - has attracted the attention of a number of private equity firms. According to reports by India’s Mint newspaper, Temasek Holdings, Advent International, Barings Asia Private Equity, Blackstone, Aion Capital and the investment arm of Piramal Group are all evaluating the d...

CRH and HeidelbergCement named in West Bank lawsuit

31 March 2016, Published under Cement News

CRH and HeidelbergCement are among a number of defendants named in a US$34.5bn lawsuit brought on behalf of Palestinians by US lawyers in Washington DC. The case, which was lodged earlier in March, alleges that both firms were among a number of companies and individuals that engaged in "profiteering" from the building of Jewish settlements in the West Bank, the Irish Times reports. The newspaper noted that CRH sold its stake in Israeli cement company Nesher in January and no longer had...

LafargeHolcim brands CRH purchase write-down claims "without merit"

21 March 2016, Published under Cement News

CRH is disputing the value of the assets it purchased in February last year as part of the requirement from competition regulators to allow the creation of LafargeHolcim. The EUR6.5bn price paid by CRH is now under scrutiny, according to Reuters. In its annual report, published last week, LafargeHolcim stated: " LafargeHolcim has received from CRH several notices claiming a reduction of the purchase price. LafargeHolcim is contesting those claims. "In view of the information availab...

CRH subsidiary challenges competition authority searches

09 March 2016, Published under Cement News

Irish Cement, a subsidiary of CRH, has brought a legal challenge to the seizure of certain emails of a senior CRH executive during a search as part of an investigation into alleged anti-competitive practices, according to a report in the Irish Independent. The Competition and Consumer Protection Commission was not entitled to "essentially run riot" in the premises of Irish Cement at Platin, Co Meath, and just seize all material, regardless of relevance to the purpose of its search, Paul Sre...

Irish Cement applies for AF burning planning permission

08 March 2016, Published under Cement News

Irish Cement has formally applied for planning permission to burn alternative fuels at its plant in Limerick, according to local press reports. The CRH group company is seeking approval from Limerick City and County Council to burn used tyres as well as shredded plastics. As part of the development, the company is planning to construct a tyre storage area with a tyre handling/separation area and an associated conveyor, the report by the LImerick Leader noted.

CRH announces non-executive board appointment

04 March 2016, Published under Cement News

The Board of CRH plc announced the co-option to the board, with effect from 3 March 2016, of William J Teuber, Jr as a non-executive director. Mr Teuber (64), a US citizen, is the Vice Chairman at EMC Corporation, a global leader in enabling businesses and service providers to transform their operations and deliver IT as a service. In previous roles he was responsible for EMC’s global sales and distribution organisation (2006-12) and served as Chief Financial Officer leading the company’s w...

CRH full-year sales 25% ahead

03 March 2016, Published under Cement News

CRH's turnover rose by 25 per cent in 2015 to EUR23,635m while the EBITDA advanced by 35.2 per cent to EUR22198m. The trading profit increased by 39.3 per cent to EUR1277m. The net interest charge rose by 19.9 per cent to EUR295m and there was a EUR101m gain on disposals, compared with EUR77m in 2014, which led to a pre-tax profit 35.7 per cent higher at EUR10331m. The net attributable profit was 24.4 per cent ahead at EUR724m. Net debt at the end of December was 57.3 per cent higher at EU...

CRH and Dalmia expected to bid for Jaiprakash assets

04 February 2016, Published under Cement News

CRH and India's Dalmia Cement are likely to submit separate bids next month for the cement business of Indian infrastructure builder Jaiprakash Associates, two sources with direct knowledge told Reuters. The deal is likely to be worth about US$3bn, which is the total debt linked to the cement business, the sources said, adding that binding bids were due next month. Others possible bidders include the Indian unit of HeidelbergCement, Ultratech Cement Ltd and two private equity firms, one of ...

New senior vice president announced to lead Tarmac business

25 January 2016, Published under Cement News

Martin Riley, former managing director of Tarmac’s Aggregates & Asphalt business, has been appointed senior vice president of Tarmac. Cyrille Ragoucy has left the business after three successful years as CEO. As part of this reorganisation, the Tarmac Cement & Lime business will work as part of a new CRH business cluster consisting of UK Cement, Ireland and Spain, led by Oliver Mahon, Senior vice president. These operational and management changes have been made as part of the transition ...