Cement News tagged under: CRH

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CRH reportedly to take part in preliminary bidding for South Korean producer

11 June 2015, Published under Cement News

CRH announced it will take part in the preliminary bidding for Tongyang Cement scheduled on the 12 June after selecting Goldman Sachs as an underwriter, according to local press reports citing investment bank sources. Tongyang Cement was put on the market in early April after its parent group was liquidated. The 74.1-per cent stake held by Tongyang Corp. and Tongyang International is estimated at KWR400-600bn (US$360-540m) Tongyang Cement is ranked second on the domestic the cement market...

Holcim and Lafarge seal binding deal with CRH

27 May 2015, Published under Cement News

Lafarge and Holcim have now entered a binding agreement with CRH regarding the sale of several assets with an enterprise value of EUR6.5bn. As announced in February 2015, the assets include operations mainly in Europe, Canada, Brazil and the Philippines (see below). The acquisition remains conditional upon successful completion of the merger of Lafarge and Holcim as well as the completion of local asset reorganisations. The acquisition is expected to complete in the second half of 2015. ...

CRH confirms watchdog search at Platin works

18 May 2015, Published under Cement News

CRH has confirmed its Platin works in Ireland, owned by its subsidiary Irish Cement, has been searched by the Competition and Consumer Protection Commission. “Irish Cement fully facilitated the inspection and is continuing to co-operate with the Competition and Consumer Protection Commission. Inspections regarding competition policies, procedures and practices are an accepted part of the business environment around the world. “Irish Cement operates to the highest business standards across ...

Aboitiz plans to buy Lafarge Philippines assets

15 May 2015, Published under Cement News

Philippine conglomerate Aboitiz Equity Ventures Inc said on Friday it had signed an agreement for a possible acquisition of Lafarge's local cement operations in partnership with CRH Plc. CRH had earlier agreed to buy for EUR6.5bn cement assets from Lafarge and Holcim Ltd., whose asset divestments are part of preconditions to winning regulatory approval for their merger. Both Lafarge and Holcim have cement assets in the Philippines. Aboitiz, which has investments in power generation and ban...

CRH: good advance in North America

06 May 2015, Published under Cement News

CRH's underlying sales in the first four months declined by around two per cent in Europe and increased by about eight per cent in the Americas during the first four months of the year. Some EUR45m was spent on acquisitions and investment during the first four months, while EUR540m was raised from divestments during the period. The group EBITDA in the first half expected to be around 10 per cent ahead of last year. Europe Heavy building materials volumes in Ireland continued to recover a...

LH Merger nears completion

01 May 2015, Published under Cement News

As Holcim’s shareholders prepare to meet next Friday to vote on the planned merger with Lafarge, will the confirmed support of Eurocement and a better than expected 1Q15 performance by Lafarge be enough to seal the deal? The planned EUR41bn tie-up between the world's two leading cement majors – billed as a “merger of equals” – was thrown into doubt in March as Holcim demanded new terms, stating that the deal “could no longer be pursued in its present form.” Holcim investors had wat...

Holcim and Lafarge receive EC approval for CRH as buyer of divestment assets

27 April 2015, Published under Cement News

The European Commission has cleared under the EU Merger Regulation the proposed acquisition of several assets of Holcim and Lafarge by Irish building materials manufacturer CRH. The Commission concluded that the transaction would raise no competition concerns, in particular because the merged entity will continue to face sufficiently strong competition after the merger and customers will have alternative suppliers in all markets concerned. The proposed transaction concerns assets worth seve...

CRH Group Finance Director to assume Global Group Transformation role effective January 2016

27 April 2015, Published under Cement News

CRH plc announces that Maeve Carton, Group Finance Director, will lead a new strategic group function within CRH, commencing on 1 January 2016. As Group Transformation Director, Maeve will identify and implement the optimum financial and business model for the Group in the years ahead.  In this new role, Maeve will drive improved shareholder returns by identifying further synergies, efficiencies and cash generation opportunities as CRH continues to grow and acquire new businesses.  She wil...

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...