Cement News tagged under: CRH

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CRH announces 2014 acquisition spend of EUR0.19bn

08 January 2015, Published under Cement News

CRH announced a total 2014 acquisition and investment spend of EUR0.19bn, reflecting the completion of 21 transactions. On the divestment front, the group undertook 16 transactions and realised total disposal proceeds of EUR0.35bn. Commenting on these developments, Albert Manifold, CRH Chief Executive, said: “In August 2014 we announced a multi-year EUR1.5 billion to EUR2 billion divestment programme; the proceeds of EUR0.35bn generated in 2014 demonstrate that this programme is well underw...

CRH announces non-executive board appointment

22 December 2014, Published under Cement News

The Board of CRH plc is pleased to announce the co-option to the Board, with effect from 1 January 2015, of Patrick J Kennedy as a non-executive director. Mr Kennedy (61), an Irish citizen, retired in 2014 as chairman of the Executive Board of Directors of SHV Holdings (SHV), a large family-owned Dutch multinational company with a diverse portfolio of businesses, including the production and distribution of energy, the provision of industrial services, heavy lifting and transport solutions,...

CRH increases investment war chest

19 December 2014, Published under Cement News

CRH’s recent disposal announced this week is being viewed as positive for further development as it keeps in line with the company's efforts to streamline its portfolio and provides additional financial flexibility for acquisitions. On Tuesday CRH announced it had reached an agreement to dispose of its clay and concrete businesses in the UK and its clay business in the US. The move had been expected for a while with CRH said to be dissatisfied with the structural returns in the brick bu...

CRH announces clay and concrete disposals

15 December 2014, Published under Cement News

CRH has said that it has reached agreement to dispose of its clay and concrete businesses in the UK and its clay business in the US to funds managed by Bain Capital Europe LLP for an enterprise value of GBP414m (EUR522m). This amount excludes real estate assets with an estimated market value of GBP£30m that are being retained by CRH for future disposal. The transaction is subject to regulatory approvals and is expected to close in 1H15. The business being divested comprises clay compan...

Oyak Group eyeing Lafarge and Holcim assets

14 November 2014, Published under Cement News

Oyak Group, Turkey’s largest cement producer, has US$2bn in cash for acquisitions and may spend some of it on assets Holcim and Lafarge are looking to shed ahead of their planned merger. The head of the Ankara-based company told Bloomberg in an emailed statement that the group is interested in Holcim and Lafarge businesses in the eastern European countries of Romania, Serbia and Hugary. “We are interested in bidding as Oyak or together with a European group” for assets, Caglar said. Oyak ...

CRH's nine-month results show growth

11 November 2014, Published under Cement News

In its autumn trading statement, CRH said that turnover improved by three per cent in Europe and by five per cent in the Americas, or four per cent overall. EBITDA should be ahead by around 10 per cent on both sides of the Atlantic, having seen a 27 per cent rise during the first half (+61 per cent in Europe and broadly unchanged in the Americas). Depreciation and amortisation charges are expected to be around five per cent lower than in 2013 and the net interest charge is forecast to be...

Industry majors reportedly teaming up for LH asset disposals

09 October 2014, Published under Cement News

CRH is reportedly teaming up with Cemex to bid for all the assets that Lafarge SA and Holcim Ltd will have to sell to secure the approval of European competition authorities for their proposed merger, Reuters reported on Tuesday. HeidelbergCement AG of Germany and Brazil's Votorantim Cimentos SA also are understood to be considering a joint bid for the assets, according to sources familiar with the matter cited by Reuters. The groups would be competing with several private equity bidders f...

CRH reportedly selling brick business

06 October 2014, Published under Cement News

Irish building materials major CRH is selling its clay brickwork division for up to GBP600m, according to reports in The Sunday Times. The move comes as the company prepares to bid for a group of cement business from Holcim and Lafarge as the two companies look to shed assets ahead of their proposed merger. The reported cited city sources who said CRH had hired bankers from JP Morgan to find a buyer for the division. Several private equity firms are thought to be interested in buying the ...

Turkey: CRH and Eren Holdings plan sale of JV

03 October 2014, Published under Cement News

CRH and its Turkish partner Eren Holdings have applied to Turkey's competition regulator to sell their joint venture, Denizli Cimento, to army pension fund OYAK Group, according to a statement on the watchdog's website. Irish building materials major CRH and Istanbul-based Eren each hold a 50 per cent stake in Denizli.  No price was given for the disposal. CRH has embarked on a disposal plan under new chief executive Albert Manifold and plans to sell at least 10 per cent of its net as...

UK: Votorantim interest in Tarmac

29 September 2014, Published under Cement News

Votorantim is understood to be planning a bid for a package of businesses being offloaded by Holcim and  Lafarge, in an effort to seal a GBP32bn mega-merger that would include Tarmac, one of Britain’s largest companies. It is not known whether the Sâo Paulo-based company wants to buy all the assets being sold or cherry-pick parts in different countries. The disposals are expected to attract offers from other big players, including Ireland’s CRH and HeidelbergCement. The sell-off, valued at...