Cement News tagged under: CRH

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CRH releases trading update

22 April 2020, Published under Cement News

CRH has released a trading update for the 1Q20, reporting a three per cent increase in like-for-like sales. In North America the company’s operations in Pennsylvania, New York City and Washington state have been the most impacted to-date by the COVID-19 pandemic, while its operations in the southeast, central and western US have been less affected, according to the update. Significantly lower activity levels have also been noted in Ontario and Quebec, as a result of government restrictions...

Cevian builds CRH stake

30 March 2020, Published under Cement News

Swedish activist fund Cevian has bought further shares in CRH in less than a fortnight. The fund now holds a 3.145 per cent stake in the Ireland-based building materials producer. Cevian first purchased shares in CRH in February, calling for a simplification of the business, but has since appeared more supportive of the management. "When this [coronavirus outbreak] passes, CRH's fundamentals will still be strong, and the business well positioned to benefit from increased public construct...

Cement industry and the COVID-19 crisis

20 March 2020, Published under Cement News

This week has seen growing action and concern from the construction and cement sectors on how best to fight off the coronavirus (COVID-19), which was declared a pandemic on 11 March, to keep businesses running and employees safe. Many countries have already announced emergency financial packages and stimulus measures to support businesses and protect livelihoods, as countries impose social distancing measures and quarantine measures to slow the virus. The latest reports reveal that buildi...

Cevian Capital increases stake in CRH

20 March 2020, Published under Cement News

Cevian Capital, Europe’s largest activist investor, has increased its stake in CRH to above three per cent for the first time. "As a long-term investor, we are pleased to be able to increase our ownership and commitment to CRH at a share price that is well below our view of the value of the group's assets," said Cevian Capital partner, Gustav Lundgren. "We remain convinced of CRH's potential and support the company's efforts to unlock value and enhance long-term competitiveness," he ad...

CRH EBITDA up 25% in 2019

03 March 2020, Published under Cement News

CRH plc posted a six per cent advance, or three per cent like-for-like (LfL), in sales to EUR28.3bn in 2019 when compared with 2018. The company’s EBITDA increased 25 per cent (+3 per cent LfL) YoY to EUR4.2bn while it saw an EBITDA margin increase of 230 basis points. “CRH delivered good profit growth in 2019 supported by positive momentum in our heritage businesses and strong contributions from recent acquisitions. With a continuing focus on margin expansion, cash generation and enhanced ...

CRH seeking buyers for its Brazilian business

30 December 2019, Published under Cement News

CRH, Ireland, is selling its cement business in Brazil, which it acquired in 2015 as part of a portfolio of assets bought from Lafarge and Holcim during their merger, according to reports in Valor Economico. CRH Brasil Participacoes S.A. operates three integrated plants and one grinding mill in the states of Minas Gerais and Rio de Janeiro with a total cement production capacity of 2.75Mta. CRH has reportedly hired Citigroup to help find buyers for the Brazilian assets. The bank is already...

Eqiom tests intermodal cement transport

17 December 2019, Published under Cement News

In the last three weeks, France-based cement producer  Eqiom has been testing the movement of cement by intermodal transport. The company hopes to find a new solution via road and inland waterways to supply its customers in Ile-de-France with up to 25 containers of bulk cement per week from its plant in Grand Couronne, near Rouen. The CRH-owned cement company expects to use a regular river transport shuttle from Le Havre to Gennevilliers, manage by Greenmodal Transport. River transporrt wa...

CRH reportedly in talks to sell stake in Indian joint venture

13 December 2019, Published under Cement News

CRH is reportedly in talks to exit its joint venture with India’s My Home Group, according to VC Circle. In 2008, CRH acquired the 50 per cent stake in My Home Industries for around US$450m and the deal would see this returned to the Indian group. My Home Industries operates across four locations in Andhra Pradesh, Tamil Nadu and Telangana, with a total cement capacity of 9.6Mta. The company is a market leader in Andhra Pradesh and Telangana under its flagship brand of Maha Cement.

CRH forecasts record 2019 earnings

26 November 2019, Published under Cement News

Ireland-based building materials major CRH predicts that its full-year earnings will expand by 23 per cent to reach a record EUR4.15bn. The trading outlook follows the company's announcement of its January-September 2019 results. Group sales rose nine per cent YoY to EUR21.8bn in the 9M19. There was a six per cent YoY increase in sales by its Europe Materials division, while Americas Materials sales advanced by four per cent YoY. Building products sales were up three per cent when compared...

CRH reportedly looks to sell Philippine operations

14 November 2019, Published under Cement News

CRH is reportedly considering a sale of its Philippine cement business as the company seeks to raise cash by selling non-core assets, according to the Irish Independent. JP Morgan Chase is said to be assisting with finding a buyer for the operations, which could be valued between US$2-3bn. The company is currently receiving bid interest from Asia and Europe. However, the plans are still at a preliminary stage and no final decision has been made. CRH acquired Philippines-based Republic Cem...