Cement News tagged under: Germany
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... |
Citigroup raises HeidelbergCement price target11 December 2013, Published under Cement NewsAnalysts at Citigroup have raised the price target for HeidelbergCement and given the German cement major a "buy" rating. The price target was set at EUR61-62. At a current price of the HeidelbergCement stock of EUR54.20 this means an upside potential of 14.39 per cent. The outlook for building materials manufacturers in Europe is improving, according to analyst Aynsley Lammin in a sector report. |
KHD recommends shareholders accept AVIC offer06 December 2013, Published under Cement NewsThe management and supervisory board of KHD Humboldt Wedag International have recommended company shareholders accept a takeover bid from AVIC International at the offer price of EUR6.45/share. The offer price corresponds to a premium of 34.9 per cent on the average closing price of the KHD share over the three-month period prior to announcement of the offer on October 10, 2013. KMPG, who was engaged by KHD’s management board, as well as Network Corporate Finance, a consulting company com... |
HeidelbergCement issues Eurobond04 December 2013, 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 21 October 2021. The proceeds of the transaction will be used for general corporate purposes, the German cement major said in a statement. The eight year bond bears a fixed coupon of 3.25 per cent per annum. The issue price is at 99.337 per cent, resulting in a yield to maturity of 3.375 per cent. Joint lead managers of the transaction are Danske Ba... |
AVIC confirms bid for KHD02 December 2013, Published under Cement NewsAVIC International Engineering has published the offer document for the voluntary public takeover offer to the shareholders of KHD to acquire all shares in KHD. According to a release, the joint bidders offer a cash consideration of EUR6.45 per KHD share. The offer price includes a premium of approximately 35 per cent on the weighted average domestic stock exchange price for KHD shares in the three-month period prior to the publication of the decision to launch the takeover offer on 11 Octo... |
Dr Reinhold Festge elected president of the VDMA21 November 2013, Published under Cement NewsDr Reinhold Festge is elected VDMA president Dr Reinhold Festge, managing partner of Haver & Boecker in Oelde, Germany, has been elected as president of the German Engineering Federation (VDMA) following a members' gathering in Stuttgart on 18 October 2013. He succeeds Dr Thomas Lindner of the Groz-Beckert KG in Albstadt, who has served asVDMA president since 2010. Reinhold Festge was born in Oelde on 10 November 1945. After completing his medical school studies he majored in... |
HeidelbergCement issues a Eurobond22 October 2013, Published under Cement NewsHeidelbergCement yesterday priced a Eurobond issue under its €10bn EMTN programme with an issuance volume of EUR300m and a maturity date of 21 October 2020. The proceeds of the transaction will be used for general corporate purposes. “The new Eurobond is a great success,” says CEO, Dr Bernd Scheifele. “With the seven year bond, HeidelbergCement could raise capital at more favourable terms for a longer maturity compared to one year ago. This is a clear proof of the improved credit quality of... |