Cement News tagged under: Germany
Germany: VDZ re-elects Hirth as president11 April 2014, Published under Cement NewsThe member companies of the German Cement Works Association (VDZ) in Berlin have elected a new board. After a regular, three-year term VDZ President Gerhard Hirth (Schwenk Zement KG) has been re-elected to the post. Christian Knell (HeidelbergCement AG), Dr Dirk Spenner (Spenner Cement GmbH & Co. KG) and Eric Wittmann (Cemex Germany AG) were selected as vice-presidents. "I thank our member companies for their support over the past years and look forward to the challenges ahead ," VDZ Presid... |
KHD Humboldt Wedag 2013 revenue increases 16.9% YoY28 March 2014, Published under Cement NewsKHD Humboldt Wedag International reported yesterday that it achieved a 16.9 per cent YoY increase in 2013 revenues. Order intakes, however, were significantly below the previous year’s level due to unfavourable market conditions. Strong competition and lower margin quality in the company's order backlog had a negative impact on results but a positive EBIT was recorded. The German cement plant services company’s order intake fell by 58 per cent to EUR172.4m due to "continued cautious inves... |
Spenner Zement commissions slag cement mill20 March 2014, Published under Cement NewsSpenner Zement has started production of slag cement from its new blastfurnace slag grinding plant at Hüttenheim, Germany. At the end of February, the first truck with blastfurnace cement, produced with slag from the Krupp Mannesmann metallurgical plant and cement from Spenner’s Erwitte works, set off to deliver the product to customers. "We are in the commissioning phase," said Dr Heinrich Sievers, production director at Spenner. By the end of May, the remaining work on the facilityare e... |
HeidelbergCement issues a Eurobond06 March 2014, Published under Cement NewsHeidelbergCement yesterday priced a Eurobond issue under its EUR10bn EMTN programme with an issuance volume of EUR500m and a maturity date of 12 March 2019. The proceeds of the transaction will be used for general corporate purposes. The five-year bond bears a fixed coupon of 2.25 per cent p.a. The issue price is at 98.84 per cent, resulting in a yield to maturity of 2.50 per cent. Joint Global Coordinators of the transaction are Morgan Stanley (B&D) and RBS. Joint Bookrunners of the trans... |
HeidelbergCement signs new credit facility26 February 2014, Published under Cement NewsHeidelbergCement has signed a new EUR3bn syndicated credit facility with a term of five years to refinance the existing credit facility which would have expired in December 2015. The revolving credit line was early refinanced due to favorable market conditions, the company said in a statement yesterday. HeidelbergCement was able to execute the new self-arranged facility with significantly improved terms and conditions. "There was massive demand from the banking sector to enter the new fac... |
HeidelbergCement takes over logistics company18 February 2014, Published under Cement NewsHeidelbergCement has increased its participation in the logistics company Kerpen & Kerpen GmbH & Co KG from 30 per cent to 100 per cent, the German cement major said in a statement yesterday. The purchase price of around EUR23.5m was paid in the form of 416,477 new HeidelbergCement shares, which were issued as part of a capital increase in return for contributions in kind. Kerpen & Kerpen will be fully integrated into HeidelbergCement's business in Germany, constituting the core of the... |
KHD misses 2013 margin guidance, Germany23 January 2014, Published under Cement NewsKHD Humboldt Wedag of German has said it will miss its margin guidance for the 2013 financial year due to “unexpected profit deterioration in the latest cost estimations of a few major projects.” In a statement released yesterday, the Germany-based equipment supplier said that according to preliminary unaudited figures, it will close 2013 with a “significant increase in revenues”, EBIT of between EUR1-2m and an EBIT margin of less than one per cent. AVIC International Beijing has re... |
EC rejects request by Germany to review deal07 January 2014, Published under Cement NewsThe European Commission (EC) has rejected a request from Germany to refer the planned acquisition of Cemex West by Holcim to the German competition authority for assessment under national competition law. The EC concluded that the geographic scope of the affected cement markets is wider than national and that therefore the Commission cannot refer the assessment of the transaction to Germany. The commission has until 31 March 2014 to take a final decision. In the proposed transaction Holc... |
AVIC completes takeover offer for KHD30 December 2013, Published under Cement NewsAVIC International Beijing Company announced on Friday the successful completion of a voluntary public takeover offer for shares in German equipment supplier KHD Humboldt Wedag. The takeover offer was conducted jointly by an indirectly wholly-owned subsidiary of AVIC International Beijing Company Ltd and three other bidders. AVIC International Beijing said it bought a 40.465 per cent stake in KHD via a voluntary public takeover offer and acquired an additional 19.03 per cent from indi... |
Germany: Renewable Energy Sources Act feared by cement sector18 December 2013, Published under Cement NewsThe Renewable Energy Sources Act (EEG) is expected to be detrimental to the production of the German cement industry as well as presenting considerable risks to the sector's competitiveness, according to a recent study of the Münster-based EEFA Research Institute on behalf of the German cement association VDZ. The report entitled: ‘Wettbewerbsfähige Stromkosten. Voraussetzung für die Zementherstellung am Standort Deutschland’ [Competitive Electricity Costs. Requirements for the cement prod... |