Cement News tagged under: CRH

RSS feed

Fitch expects negative impact on Lafarge credit profile if Holcim merger fails

18 March 2015, Published under Cement News

A failure of the proposed merger between Lafarge and Swiss Holcim would have negative effect on the credit profile of the French company, Fitch said. According to the rating agency, a collapse of the merger would be credit neutral for Holcim and positive for the credit profile of Irish rival CRH because its commitment to acquire assets from the two companies hinges on the deal’s completion. The rating agency believes the merger would come to a successful ending despite Holcim’s decisio...

CRH earnings up 11%

26 February 2015, Published under Cement News

CRH’s turnover increased by 4.9 per cent in 2014 to EUR18,912m while the EBITDA advanced by 11.3 per cent to EUR1641m. The trading profit before charging EUR49m of impairments rose by 28.8 per cent to EUR966m. The net interest charge declined by 1.2 per cent to EUR246m and a EUR77m gain on disposals, compared with EUR26m in 2014, led to a pre-tax profit of EUR761m compared with a loss of EUR215m in 2013. The net attributable result swung from a EUR296m loss to a profit of EUR582m. Net d...

CRH announces non-executive board appointment

19 February 2015, Published under Cement News

CRH announced the co-option to the Board, with effect from 1 March 2015, of Ms. Lucinda Riches as a non-executive Director. Ms Riches (53), a British citizen, is a non-executive director of UK Financial Investments Limited, which manages the UK Government’s investments in financial institutions.  She is a non-executive director of Diverse Income Trust  plc, Graphite Enterprise Trust plc, the British Standards Institution  and a non-executive member of the Partnership Board of King & Wood Ma...

CRH: climbing the building materials ladder

06 February 2015, Published under Cement News

News that CRH has beaten off competition to acquire a package of assets from Lafarge and Holcim ahead of their planned merger has been welcomed by the market, but not everyone is convinced by the rationale and apparent shift in strategy. CRH confirmed on Monday that it had “entered into a binding agreement to acquire certain assets currently owned by either Lafarge and Holcim that the companies must sell for their proposed merger to receive regulatory approval across various juris...

CRH

02 February 2015, Published under Cement News

CRH spent around EUR190m on 21 acquisitions during 2014 and raised some EUR350m from 16 disposals during the course of 2014. The biggest deal was the divestment in November of the 50 per cent interest in Denizili Çimentok to Oyak, which raised EUR170m. A number of ready-mixed concrete and concrete products plants were sold as were some property assets in six disposals. The total raised was some EUR240m. In North America, EUR110m was raised from the sale of nine investments and an asset ex...

Lafarge

02 February 2015, Published under Cement News

Lafarge is negotiating with CRH to sell of its assets in Germany and certain assets in the United Kingdom, the Philippines, Brazil and Réunion.

CRH strikes deal to acquire €6.5bn Holcim and Lafarge assets

02 February 2015, Published under Cement News

CRH has reached a deal to acquire €6.5bn in the assets of Lafarge and Holcim who are restructuring to win regulatory approval for their planned merger. The deal will significantly expand CRH’s globally footprint in the cement industry by acquiring new facilities in the Philippines, Canada, Brazil and several countries in Europe. Commenting on the acquisitions, CRH chief executive Albert Manifold said: “This transaction represents a significant value creation opportunity for CRH. We are acqu...

CRH withdraws from aerated concrete in Poland

30 January 2015, Published under Cement News

The Polish CRH subsidiary Grupa Ozarow has now received Polish competition authority approval to sell its aerated concrete subsidiary Grupa Prefabet SA to the Danish aerated concrete producer H+H International.  The deal values Grupa Prefabet at just over €14m and the move is aimed at reducing the fragmentation in the highly competitive Polish aerated concrete market.

CRH confirms discussions over Lafarge and Holcim assets

23 January 2015, Published under Cement News

CRH has confirmed that it is in discussions with Lafarge and Holcim regarding the potential acquisition of certain assets being disposed of by the two companies in advance of their proposed merger. “While there can be no certainty that these discussions will result in a transaction, if an acquisition was to proceed, it is likely that it would be funded through a combination of existing cash balances, debt and an equity placing,” CRH said in a statement released yesterday. “At this stage ...

Blackstone, CVC reportedly among bidders for Lafarge and Holcim assets

15 January 2015, Published under Cement News

Groups led by Blackstone Group LP and CVC Capital Partners Ltd have submitted bids for assets put up for sale by Lafarge and Holcim, according to reports by Bloomberg citing people familiar with the matter. Blackstone teamed up with Cinven Ltd and Canada Pension Plan Investment Board, while CVC made a bid with Singapore’s sovereign-wealth fund GIC, the undisclosed sources said. CRH, the Dublin-based building-materials company, is also reported to be among those who have submitted  bids for...