Cement News tagged under: CRH
CRH 's development spend reaches almost €630m in 201203 January 2013, Published under Cement NewsIn an update on its spending for the second half of the year, CRH said it had agreed 18 acquisition and investment initiatives of €375m. The transactions completed since the end of June bring full year 2012 development activity for the group to almost €630m. During the six month period, CRH said its Americas division agreed 12 deals worth a total of €256m. This included a majority stake in New Jersey's Trap Rock Industries and and also completed five other bolt-on transactions during the pe... |
Euroconstruct downgrades European construction forecasts16 December 2012, Published under Cement NewsEuroconstruct has reduced its forecasts for European construction output for both for this year and next, with a slow recovery expected for 2014. The forecasts released at its twice-yearly conference for the 19 countries under its coverage contain significantly reduced estimates compared to those published in June 2012. The research group now expects the volume of European construction output to decline by 4.7 per cent this year, 2.6 percentage points (pp) lower than it predicted six mont... |
CRH looks for new Nesher Cement CEO29 November 2012, Published under Cement NewsCRH is reviewing the candidacy of Moshe Kaplinsky for the position of CEO of Nesher Cement Enterprises following the departure of Joel Feldschuh announced earlier this week. Mr Kaplinsky is the former CEO of Better Place Israel. Mr Feldschuh announced on Monday that he will leave the company at the end of the year. His departure follows the sale in July of its controlling shareholder, Clal Industries and Investments Ltd to Len Blavatnik's Access Industries, by IDB Holding Corp. Ltd, contr... |
CRH cuts costs and eyes emerging markets21 November 2012, Published under Cement NewsCRH showcased a credible, bottom-up cost savings plan during its recent analyst day in London, UK. Cost savings are expected to offset more than 75% of the impact of lower volumes as the group presented an additional E450m of cost savings during 2012-15. “Targets appear achievable and weighted towards the heavy-side Materials businesses in Europe and the Americas, where logistics, procurement, back office efficiency and energy appear to be the key levers,” said JP Morgan in its latest res... |
CRH hopes US storm repair work will help its sales15 November 2012, Published under Cement NewsCRH expects to benefit next year from the devastation wreaked by Hurricane Sandy on the east coast of the US as reconstruction work gets underway. But the storm has also severely hampered its materials operations in the region. CRH said that disruption, coupled with ongoing weakness in some European markets, will result in earnings before interest, tax, depreciation and amortisation (EBITDA) in the last three months of 2012 below that achieved in the final quarter of 2011. Releasing an... |
Ireland: Judge steps aside over CRH share dealings15 November 2012, Published under Cement NewsA high court judge has stepped aside from a long-running dispute involving cement giant CRH, after a rival firm raised concerns about the judge's ownership of the company's shares. Mr Justice John Cooke, who returned to Ireland in 2008 after serving for 12 years as a judge in the European Court of First Instance, has been managing the bitter competition law case between Goode Concrete and CRH for two years. Mr Justice Cooke had already handed down three written rulings on preliminary issue... |
Aditya Birla resumes talks with Jaypee over cement assets – report17 October 2012, Published under Cement NewsThe Aditya Birla Group has restarted negotiations with Jaikprakash Associate’s to buy out its Jaypee Cement Corp plants in Gujarat and Andhra Pradesh, the Economic Times (ET) of India reports. Birla is understood to have made an offer of up to US$130/t to acquire cement assets with a total capacity of 9.8Mt, two sources close to the negotiations said. Talks between the two companies fell through in July this year due to differences over valuations, the ET noted. Last week, CRH said neg... |
CRH announces termination of negotiations in India10 October 2012, Published under Cement NewsCRH plc announced that it has terminated negotiations with Indian cement producer Jaypee Cement Corporation (Jaypee) regarding the possible purchase by CRH of an equity stake in Jaypee’s Gujarat cement business. CRH said these negotiations were terminated as the parties were unable to agree terms. The Irish-based building materials major said that it acknowledges the co-operation of the Jaypee management team throughout the negotiations and due diligence process. CRH confirmed back in A... |
Irish Cement in restructuring efforts, to cut 55 jobs04 September 2012, Published under Cement NewsCRH subsidiary Irish Cement has announced 55 redundancies at its plant in Limerick as part of restructuring measures due to a considerable downturn in the domestic construction sector. The company said that the restructuring follows five years of decline in Irish construction activity which is now 80 per cent less than 2007 peak levels. “Unprecedented deterioration in market conditions, combined with a sustained decline in the demand for cement products, has led to the need for a sign... |
Clal Industries to expand power plant capacity30 August 2012, Published under Cement NewsClal Industries and Investments, controlled by Len Blavatnik, subsidiary Mashav Initiation and Development Ltd, is to expand capacity at its private power station which provides electricity to Nesher Cement Enterprises of Israel. With an investment of US$90m, capacity at the station is to be increased initially by 50MW and thereafter by 70MW. Mashav is 75 per cent owned by Clal Industries and 25 per cent owned by CRH. In 2010, Mashav’s 50W natural gas-driven power station secured a 20-yea... |