Cement News tagged under: CRH
Ash Grove Cement Board to come under investigation04 October 2017, Published under Cement NewsWeissLaw LLP is investigating possible breaches of fiduciary duty and other violations of law by the Board of Directors of Ash Grove Cement Co in connection with the proposed acquisition of the Company by CRH, Plc. On 20 September 2017, the Ash Grove Cement announced the signing of a definitive agreement under which terms CRH will acquire all outstanding shares of Ash Grove Cement in a transaction valued at approximately US$3.5bn. However, WeissLaw is investigating whether Ash Grove Cem... |
CRH said to be closing in on Suwanee America acquisition03 October 2017, Published under Cement NewsCRH Plc is nearing an agreement to acquire Florida-based cement company Suwannee American Cement LLC from Votorantim Cimentos SA and Anderson Columbia Co, according to Bloomberg. The companies could announce an agreement this week, acording to the news seervice cources. The deal may value Suwannee at about US$750m. While talks are advanced, they could still be delayed or fall apart and the valuation could change. The planned acquisition follows a string of deals for CRH, which last month a... |
CRH agrees US$3.5bn acquisition of Ash Grove Cement21 September 2017, Published under Cement NewsCRH plc has reached an agreement to buy US-based Ash Grove Cement Co for US$3.5bn. The proposed transaction is subject to Ash Grove shareholder and regulatory approvals and will be financed through existing financial resources. The transaction is expected to close around year end 2017. Albert Manifold, Chief Executive of CRH, commented: “Ash Grove is an excellent addition to CRH’s portfolio of businesses across North America as we seek to deploy our capital into high quality businesses tha... |
McInnis Cement announces Atlantic distribution plan, CRH deal08 September 2017, Published under Cement NewsMcInnis, the New Cement Co has announced its distribution plan for all of the Atlantic provinces. The cement producer has acquired two CRH Canada-owned distribution assets, enabling it to reach the markets in New Brunswick, Nova Scotia, as well as Prince Edward Island. McInnis will honour the orders of the clients supplied through those terminals and integrate their current employees. In addition, McInnis has entered into an agreement with CRH Canada and will supply cement for this co... |
West Bank case against CRH thrown out by Washington DC court07 September 2017, Published under Cement NewsA US$34bn US lawsuit launched last year by Palestinian activists against dozens of companies including Ireland's CRH, has been dismissed by a Washington DC court, the Irish Independent reports. The activists had tried to sue about 40 defendants for alleged "profiteering" related to the construction of Jewish settlements in the West Bank. The companies sued ranged from Hewlett-Packard, Volvo and Motorola, to security firm G4S. Last year, and prior to the lawsuit being launched, CRH sold its... |
Spotlight on CRH25 August 2017, Published under Cement NewsCRH reported 'satisfactory growth' in the first half of this year, with stabilising trends seen in key European markets and EBITDA growth in the Americas more than offsetting reduced activity in Asia due to a challenging market environment in the Philippines. First-half trading highlights for the international building materials group include sales of EUR13bn, two per cent ahead of 2016 and one per cent ahead on a like-for-like basis. EBITDA of EUR1.175bn were up by five per cent YoY and t... |
CRH plc establishes a euro commercial paper programme31 July 2017, Published under Cement NewsCRH plc has announced it has established a euro commercial paper (ECP) programme, under which its wholly-owned subsidiaries CRH Finance DAC and CRH France (UK) plc may issue from time to time unsecured short-term euro commercial paper notes through appointed dealers up to a maximum aggregate amount outstanding at any time of EUR1.5bn. The notes will be guaranteed by CRH plc and sold to investors outside the US. The programme adds flexibility to the company’s short-term funding options and... |
A TEC installs alternative fuels system for CRH in Slovakia27 July 2017, Published under Cement NewsA TEC has installed an alternative fuel system for kiln riser duct firing at CRH's Turna Nad Bodvou cement plant in Slovakia. The cement plant already operated a solid alternative fuel (SAF) system for the main burner, which consists mainly of a double truck-docking station and a dosing system. The riser duct itself has a gas residence time of approximately three seconds, so a thermal substitution rate of up to 25 per cent at the riser duct is possible by limiting the material to a maxim... |
Board change at CRH27 July 2017, Published under Cement NewsCRH announced that Maeve Carton, Group Transformation Director, has informed the directors of her intention to retire from the Board and from CRH on 31 August 2017. Since joining CRH in 1988, Maeve held a number of senior financial roles prior to joining the Board as finance director in May 2010. She was appointed group transformation director in January 2016. Group CEO, Albert Manifold, said: “As Group Transformation Director, Maeve’s experience and insights have been invaluable as CR... |
Republic Cement outlines capacity development plans23 June 2017, Published under Cement NewsPhilippine-based Republic Cement group, a joint venture between CRH and local conglomerate Aboitiz Equity Ventures, has announced plans to invest an initial US$300m for its capacity development activities, the Manila Bulletin reports. The first phase of these activities, targeted for completion by 2019, focuses on increasing the capacity of all its integrated plants in Luzon and Mindanao, both in terms of milling and clinker production, to increase cement capacity by 3Mta. Moreover, iimpro... |