Cement News tagged under: CRH
CRH reportedly selling brick business06 October 2014, Published under Cement NewsIrish 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 JV03 October 2014, Published under Cement NewsCRH 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 Tarmac29 September 2014, Published under Cement NewsVotorantim 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 assets19 September 2014, Published under Cement NewsIrish 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 profit19 August 2014, Published under Cement NewsCRH'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 venture14 August 2014, Published under Cement NewsCRH 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, Ukraine27 June 2014, Published under Cement NewsUkrainian 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 acquisitions08 May 2014, Published under Cement NewsCRH 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 1Q1407 May 2014, Published under Cement NewsAccording 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, Ukraine29 April 2014, Published under Cement NewsCRH 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. |