Cement News tagged under: CRH

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CRH announces completion of Ash Grove acquisition

21 June 2018, Published under Cement News

CHR has now completed the acquisition of Ash Grove Cement Co. The Irish building materials producer announced on 21 September 2017  it reached an agreement to acquire the Kansas-based cement company for US$3.5bn. The US Federal Trade Commission issued its consent order for the deal on 15 June 2018.

Belarusian government ready to sell Krasnoselskstroymaterialy

18 June 2018, Published under Cement News

The Belarusian government is ready to sell Krasnoselskstroymaterialy to CRH for approximately US$200m, according to Deputy Prime Minister, Anatol Kalinin. "The investor does not want to buy the entire stake although we are offering it to purchase 100 per cent of its shares," he said, adding that the sides continued their talks and were bringing their positions closer together. The government is determined to carry out a targeted privatisation, said Mr Kalinin. The cement manufacturer has...

CRH receives approval to acquire Ash Grove Cement

15 June 2018, Published under Cement News

CRH Plc has received regulatory approval to acquire Ash Grove Cement Co. The US Federal Trade Commission has issued its consent order, with the US$3.5bn transaction expected to close in June 2018. CRH has agreed to divest assets to secure antitrust approval for the deal. As a result, the company will sell a cement plant and quarry in Montana, sand and gravel pits in Nebraska and four facilities (two limestone quarries and two asphalt plants) in Kansas, according to Reuters.

Disposals or growth for CRH?

13 June 2018, Published under Cement News

Last week, CRH made an announcement that it was creating a new global Building Products division which would start operation in January 2019 by merging its European Distribution and Americas Products divisions. Due to the company's enlarged scale, it sees opportunities for further value creation for its shareholders and is looking to maximise its network to improve its global products business. This comes after several years of re-positioning itself post-financial crisis when several of th...

China Resources Cement plans share sale

12 June 2018, Published under Cement News

China Resources Cement Holdings Ltd has announced that it plans to sell HKD4.19bn (US$533.98m) of new shares to its controlling shareholder, CRH Ltd, to raise capital for business development, repay debt and for working capital. CRH will the buy the new shares following its sale of the same amount of existing shares at the same price to third-party investors. The shareholding of CRH and its associates in China Resources Cement will fall to 68.7 per cent from 73.5 per cent upon completion o...

Disposals or growth for CRH?

08 June 2018, Published under Cement News

Last week, CRH made an announcement that it was creating a new global Building Products division which would start operation in January 2019 by merging its European Distribution and Americas Products divisions. Due to the company's enlarged scale, it sees opportunities for further value creation for its shareholders and is looking to maximise its network to improve its global products business. This comes after several years of re-positioning itself post-financial crisis when several of th...

CRH to create new global Building Products division

31 May 2018, Published under Cement News

CRH plc will establish a new global Building Products division from 1 January 2019, bringing together its Europe Lightside, Europe Distribution and Americas Products divisions. Under the leadership of Keith Haas (currently President, Americas Products), this new platform will operate alongside our Americas Materials and Europe Materials divisions, leveraging CRH's scale and network opportunities across the company's global products businesses, CRH stated. David Dillon (currently President...

CRH to invest EUR8m in Lumbres plant

25 May 2018, Published under Cement News

Equiom has announced it will invest EUR8m in its plant in Lumbres, France. The sum represents the largest investment in the works for 15 years, according to Nord Eclair. Last year, improvements were made on the dust filters of the facility, which, along with two other plants, recently came under ownership of Ireland-based CRH. The project enabled the plant to meet European environment standards. The current spate of work centres around a new cooler. This will enable heat recovery from...

CRH 1Q18 underlying sales slip 2%

26 April 2018, Published under Cement News

A GBP16.5m (EUR19m) deal was concluded with CRH in the early part of 2018, whereby Breedon acquired four quarries and an asphalt plant in Britain in exchange for 27 ready-mixed batching plants and GBP4.9m (EUR5.6m) in cash. CRH's underlying sales in the 1Q18 declined by around two per cent, with European turnover also being off by two per cent. The Americas turnover slipped three per cent while in The Philippines there was a five per cent decline. Group EBITDA in 1H18 are expected to be s...

CRH issues new bonds

29 March 2018, Published under Cement News

CRH has issued US$1.5bn of bond debt at a lower cost than expected, reports the Irish Independent. In total, it consists of a 10-year US$900m bond and a 30-year US$600m bond. Both bonds were approximately 200 basis points below initial pricing indications which suggests the level of demand, according to Robert Gardiner, Davy Analyst. The funds are expected to be used to finance the acquisition of Ash Grove Cement, which was purchased last year.