Cement News tagged under: CRH

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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...

CRH to compete for Lafarge and Holcim assets

19 September 2014, Published under Cement News

Irish building materials manufacturer CRH plc is considering making an offer to purchase the assets that might stand in the way of the merger of Lafarge and Holcim, industry sources told Reuters. It was not reported which assets that the Irish firm might be keen to purchase. Following the announcement of their giant merger and in an effort to avoid regulatory problems, Lafarge and Holcm will have to shed some of their assets, which in turn could be of interest to competitor CRH, Reuters exp...

CRH returns to first-half pretax profit

19 August 2014, Published under Cement News

CRH's first half turnover advanced by four per cent to EUR8,324m and the EBITDA improved by 27.2 per cent to EUR505m. The trading profit jumped from EUR41m to EUR171m and after a net interest charge 2.7 per cent higher at EUR150m, the pre-tax result went from a loss of EUR71m to a EUR61m profit. The net attributable result went from a EUR57m loss to a EUR46m profit. Net debt at the end of June was 11.6 per cent lower at EUR3,703m, giving a gearing level of 39.9 per cent, which compares wi...

CRH to sell Turkish joint venture

14 August 2014, Published under Cement News

CRH and its Turkish partner, Eren Holding AS, have hired JPMorgan Chase & Co to help sell their cement joint venture in Turkey, according to reports in the Irish Times. Sources familiar with the matter say that three potential bidders are among those shortlisted and the sale process for Denizli Cimento Sanayaii TAS could be finalised as early as October. Companies including Sabanci Holdings, Limak Holding AS and Oyak are reportedly interested in the unit in which CRH holds a 50 per cent sta...

Podilskiy Cement names new chief executive officer, Ukraine

27 June 2014, Published under Cement News

Ukrainian cement producer Podilskiy Cement has appointed Sviatoslav Kozlenko as chief executive officer, replacing Semen Darchuk. In addition, the supervisory board has elected Maryna Mykhodinova as a member of the management board. Owned by Ireland-based building materials group CRH, the JSC Podilsky Cement plant is located at Kamyanets-Podilsky in western Ukraine.

CRH can spend big on acquisitions

08 May 2014, Published under Cement News

CRH Chief executive Albert Manifold was questioned by the Irish Examiner about growth opportunities for the Irish building materials company following the company's AGM in Dún Laoghaire. Albert Manifold said that management would continue to search for opportunities in its core markets of mainland Europe, the Americas and Asia and would have approximately EUR1.5bn available to spend over the next year and a half to spend on acquisitions and investments in the next year. Since the beginning...

CRH Interim statement 1Q14

07 May 2014, Published under Cement News

According to the CRH 1Q14 interim statement, the company reports that in Europe, the improving trend evident in the second half of 2013 has continued in the first four months of 2014, and the economic backdrop continues to stabilise. This, combined with the absence of the prolonged winter conditions which impacted last year's early season trading, benefited construction activity in most of CRH's markets and cumulative like-for-like European sales to end-April were 10 per cent (approximately ...

Mykolaivcement posts 2013 loss, Ukraine

29 April 2014, Published under Cement News

CRH group company Mykolaivcement reported a loss of UAH63.234m (EUR4m) for 2013, with net revenue down by 10 per cent, or UAH61m, to UAH538.8m. In 2012, the Mykolaiv-based company suffered a loss of UAH66.9m. CRH acquired Mykolaivcement from Lafarge in April 2013 for EUR96m, a deal which made the Irish building materials major the leading cement producer in Ukraine. CRH also owns Podilsky Cement and in 2011 acquired a majority stake in Odessa Cement.

Israel: CRH mulls disposal of Nesher cement stake

24 March 2014, Published under Cement News

CRH Group is considering the sale of its 25 per cent stake in Mashav, the holding company for Nesher cement, Israel, which the Irish group acquired in 2001, reports The Sunday Independent. Newly arrived CEO, Albert Manifold, is carrying out a comprehensive review of the company’s businesses and has so far identified 45 that will be put up for sale. In a recent Annual Report filed in the US, CRH wrote of the 25 per cent stake in Mashav, prompting speculation that CRH will seek to offload the...

CRH expects 2014 profit growth

25 February 2014, Published under Cement News

Irish building materials major CRH said 2013 represented a trough in its profits and expects growth in 2014 encouraged by improving trends in the USA and signs of stabilisation in Europe. Full-year turnover eased by an underlying 0.3 per cent in 2013 to EUR18,031m while the EBITDA declined by 5.6 per cent to EUR1,475m. The trading profit before charging EUR650m of impairments was down by 10.0 per cent to EUR750m, with European building products accounting for nearly two thirds of this ch...