Cement News tagged under: Cementir

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Cementir expands into Belgium

29 July 2016, Published under Cement News

Cementir's turnover improved by 1.1 per cent to EUR481m in first half of the year, as the improvements in Denmark, Norway and Sweden as well as Malaysia made up for lower results from Italy, Egypt and China, while Turkey was broadly stable. EBITDA, however, declined 1.5 per cent to EUR72.04m. After a 4.7 per cent reduction in depreciation and similar charges to EUR40.2m, the trading profit improved 2.8 per cent to EUR31.8m. The net financial item swung from a positive EUR5.3m to a negati...

Cementir to acquire HeidelbergCement’s Belgian operations

25 July 2016, Published under Cement News

Cementir has announced that it is to acquire HeidelbergCement’s Belgian assets for an enterprise value of EUR312m (US$342m). The deal primarily consists of Compagnie des Ciments Belges SA and is subject to the European Commission giving its approval. HeidelbergCement has been obliged to sell its Belgian operations as part of the process of acquiring Italcementi. In 2015 the assets generated pro forma sales of EUR180m (US$197m) on sales of 1.8Mt of cement, 4.8Mt of aggregates and 0.8Mm 3 ...

Italy: Cementir receives court approval for Sacci Spa purchase

09 June 2016, Published under Cement News

The Court of Rome has published the decree of approval of the composition with creditors of Sacci Spa, which includes the offer to purchase its business divisions submitted by the subsidiary Cementir Italia Spa. The Court  verified the regularity of the procedure and the outcome of the creditors’ vote and approved the arrangement with a motivated decree. The closing of the transaction, subject to the satisfaction of all conditions to which it is subject, is expected by the end of July 2...

Italy: Consolidation needed as consumption forecast to remain depressed

27 May 2016, Published under Cement News

With the European Commission having this week given the go-ahead to HeidelbergCement’s acquisition of Italcementi, Italy’s largest cement producer is set to become even less dependent upon what was until now its home market. Since 2007 Italcementi's domestic market has contracted from a peak consumption of 46.4Mt nine years ago to 19.6Mt in 2015, with demand predicted to be flat in 2016. The Italian cement producers’ association, AITEC, predicts that consumption will remain below 23Mt until ...

Cementir's 1Q16 revenue falls 1.1% to EUR218.9m

12 May 2016, Published under Cement News

Cementir has announced that its results for the 1Q16, despite being lower than the previous year, are in line with management expectations and show a strong performance of operations in the Scandinavian countries, Malaysia and Egypt, which more than offset the lower earnings in Turkey and the difficulties encountered in Italy and China. The performance for the quarter was adversely impacted by the seasonal effect of the earlier Easter holidays with respect to the previous year, says Cementir...

Cementir reduces debt but also net profit

11 March 2016, Published under Cement News

Cementir Holding's turnover in 2015 recovered by 2.2 per cent to EUR969.0m, but EBITDA emerged just 0.8 per cent ahead at EUR194m. The trading profit, however, declined by 6.3 per cent to EUR97.61m while the net interest line went from a negative EUR4.6m to a positive EUR4.0m and the pretax profit improved by 2.2 per cent to EUR101.6m. Higher tax and minorities charges gave a net attributable profit 5.8 per cent lower at EUR67.5m. Net debt at the end of 2015 was 20.2 per cent lower at EUR...

Cementir given antitrust approval for Sacci deal

08 March 2016, Published under Cement News

The Italian Antitrust Authority has approved Cementir’s offer to purchase Sacci Spa's cement and ready-mix concrete business divisions. In a statement released yesterday, Cementir Holding said the Italian watchdog had published its decision not to carry out an investigation into the transaction, thus authorising subsidiary Cementir Italia to proceed with the acquisition. Sacci’s composition with creditors will be submitted to the vote of its creditors at a hearing set by the Court for ...

Buzzi Unicem

05 January 2016, Published under Cement News

The Italian anti-trust authority has cleared the proposed acquisition by Buzzi Unicem of the cement and aggregates operations of SACCI SpA. However, this deal now looks unlikely to go through as a higher offer for these operations was made by Cementir at the end of December.  Cementir is a global reader in white cement and produces grey cement in Denmark, Italy and Turkey.  

Cementir outbids Buzzi to buy Sacci

30 December 2015, Published under Cement News

Shares of Italian cement group Buzzi Unicem fell after Cementir outbid its offer for the cement and ready-mix concrete business units of the Italian group Sacci SpA. Sacci has decided to include the EUR125m offer from Cementir Italia in the Sacci creditor protection plan, replacing a previous offer from Buzzi Unicem. Buzzi Unicem’s offer to purchase Sacci SpA had originally been made in March 2015 and had been approved by Italy’s Antitrust Authority in December.

Cementir Board announces forecasts for 2016, new organisational structure

11 December 2015, Published under Cement News

Cementir Holding SpA's Board of Directors has approved the forecasts for the year 2016 and a new organisational structure for the group. The Group is expecting to achieve EBITDA of around EUR190m next year, and net financial debt of about EUR180m, with planned industrial investments of around EUR65-70m. The Italian cement producer said these forecasts are based on conservative assumptions, especially for Turkey, where the geopolitical situation is still highly unstable, with possible effe...