Cement News tagged under: CRH

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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.

CRH appoints Richard Boucher as a non-executive director

02 March 2018, Published under Cement News

CRH has announced the appointment of Richard Boucher to the board as a non-executive director, with effect from 1 March 2018. Mr Boucher has extensive experience in financial services, and was CEO of Bank of Ireland Group between Feb 2009-Oct 2017. Furthermore, he has held senior management positions within the Royal Bank of Scotland and Ulster Bank. Currently, Mr Boucher is a consultant for Fairfax Financial Group and is a non-executive director of Greece-based Eurobank Ergasias SA.

CRH FY17 results see sales of EUR27.6bn

01 March 2018, Published under Cement News

CRH has released its full year 2017 results and reports sales of EUR27.6 bn, up two per cent on 2016 on a like-for-like basis. EBITDA was up six per cent to EUR3.3bn from EUR3.14bn in 2016. The EBITDA margin rose by  12 per cent, up from 11.5 per cent in 2016. All divisions posted LFL EBITDA growth: with Americas Products (+12 per cent), Americas Materials (+4 per cent), Americas Products (+5 per cent), Europe Heaviside (+6 per cent), Europe Lightside (+5 per cent) and Europe Distribution (...

CRH completes US distribution operation divestment

03 January 2018, Published under Cement News

CRH plc reached an agreement to divest its Americas Distribution business for a total cash consideration of US$2.63bn on 24 August 2017, and the company has announced today that this transaction is now complete. The company said the price achieved from the sale of its US distribution operation to Beacon Roofing Supply represents 16 times earnings before interest, tax, depreciation and amortisation. A note by Dublin-based brokers Davy said in August that CRH’s disposal of its US distributio...

Bärtschi retires from CRH board

21 December 2017, Published under Cement News

CRH plc has announced that Ernst Bärtschi has retired from the CRH Board with effect from 20 December 2017. CRH Chairman, Nicky Hartery, said, "On behalf of the Board I would like to thank Ernst for his commitment and service to CRH over the last six years, and wish him every success in the future."

CRH exits PPC talks but LafargeHolcim discussions continue

07 December 2017, Published under Cement News

Irish cement producer CRH has decided to pull out of the process to bid for rival PPC, the South African company said on Thursday. Last month, CRH made an undisclosed cash bid for PPC and had been given time for due diligence and to submit an updated bid, but CRH has now opted to drop its interest in PPC. "CRH has decided not to submit an updated expression of interest and therefore considers it appropriate to withdraw from the Independent Board’s process," PPC said in a statement. In...

CTP wins Karsdorf SCR technology order

06 December 2017, Published under Cement News

CTP Chemisch Thermische Prozesstechnik GmbH, based in Graz, Austria, has signed a contract with Opterra, a CRH company, for the supply of two new LD-SCR (low-dust, selective-catalytic-reduction) systems at the Karsdorf plant, Germany. The systems are the first of their kind and combine the advantages of a regenerative system with proven SCR technology to adhere to the stringent requirements of the 17th BimSchV regulation for NO x and NH 3 .   The scope includes design, supply and insta...