Cement News tagged under: HeidelbergCement

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Cemex divests of its Pacific Northwest Materials business in the US

18 April 2017, Published under Cement News

Cemex announced that one of its subsidiaries in the US has signed a definitive agreement for the sale of its Pacific Northwest Materials Business to Cadman Materials Inc, a LehighHanson company and US subsidiary of HeidelbergCement Group, for approximately US$150m. The proceeds obtained from this transaction will be used mainly for debt reduction and for general corporate purposes. The closing of this transaction is subject to the satisfaction of certain conditions, including approval...

Croatia: EC prevents Cemex Croatian sale

07 April 2017, Published under Cement News

Cemex SAB de CV has announced that the European Commission has refused Cemex permission to sell its Croation operations to Duna-Drava Cement Kft, a joint venture owned by HeidelbergCement and Schenk Zement AG. Therefore, Cemex will maintain its three cement plants, seven concrete plants and two aggregate quarries in Croatia, as well as its network of maritime and land-based terminals in Croatia, Bosnia-Herzegovina and Montenegro.

Who will gain from French construction boom?

07 April 2017, Published under Cement News

Analysts have been optimistic about the prospects of the French construction market during 2017. The Federation Francaise de Batiment reports that the recovery is underway, while French market analyst CM-CIC has revised its growth forecast for construction spending up to 3.3 per cent in 2017. But will the mood change after the French elections in May? Much of the demand for the construction sector has come from the improving French housing market, which has been on the rebound si...

Positive outlook for 2017 despite rising energy costs

06 April 2017, Published under Cement News

LafargeHolcim, HeidelbergCement and CRH are optimistic about their global outlook in 2017, despite the challenge presented by rising energy costs. Positive output forecasts in developing markets such as India as well as Europe are expected to support demand for petcoke and other solid fuels. Ireland-based CRH said in its 4Q16 earnings call that it expects energy prices to increase this year. Around 60 per cent of its cement-related fuel requirements, which includes petcoke, coal and bi...

EU reportedly set to block HeidelbergCement, Schwenk's Cemex Croatia deal

29 March 2017, Published under Cement News

EU antitrust regulators are set to block HeidelbergCement and Schwenk's joint bid for Cemex's Croatian unit barring a last minute change of mind, Reuters reports. The European Commission, which opened an investigation into the deal in October last year, has not been convinced so far by the companies' offer to lease a terminal on the Dalmatian coast to a rival to address its concerns, the news agency reported citing two source familiar with the matter. The EU competition authority has said ...

HeidelbergCement issues a Eurobond

28 March 2017, Published under Cement News

HeidelbergCement priced a Eurobond issue under its EUR10bn EMTN programme with an issuance volume of EUR1bn and a maturity date of 7 April 2026. The proceeds of the transaction will be used for general corporate purposes and the refinancing of upcoming maturities. The nine year bond bears a fixed coupon of 1.625 per cent annually. The issue price is at 99.626 per cent, resulting in a yield to maturity of 1.670 per cent. Joint bookrunners of the transaction are Citi, Deutsche Bank, Helaba, R...

HeidelbergCement to suspend new investment in Turkey

17 March 2017, Published under Cement News

HeidelbergCement is to suspend all new investment in Turkey due to the political uncertainty in the country, said Dr Bernd Scheifele, CEO of HeidelbergCement. He expressed concern about the current situation in Turkey, which he considers unfavourable to its economic development. A referendum on strengthening presidential powers is due to take place in Turkey in April. The refusal of Germany and The Netherlands to let the Turkish ministers campaign in their territory in favour of this co...

HeidelbergCement sees 13% revenue rise in 2016

16 March 2017, Published under Cement News

HeidelbergCement saw revenues rise by 13 per cent to EUR15.2bn in 2016 and completed a successful acquisition of Italcementi with synergies increased to EUR470m. "2016 was an exceptional year for HeidelbergCement," states Dr Bernd Scheifele, chairman of the managing board of HeidelbergCement. "With the successful takeover of Italcementi, we have accelerated our growth and are now in an excellent strategic position. In our core business lines of aggregates, cement, and ready-mixed concrete...

HeidelbergCement Ukraine reduces loss by 56% in 2017

14 March 2017, Published under Cement News

HeidelbergCement Ukraine reduced its loss by 55.6 per cent to -UAH289.17m (US$ 10.76m) from -UAH361.73m in 2016, according to a company statement. This follows a 62.7 per cent increase in losses in 2015 to -UAH650.9m. The company has operated in the Ukrainian market since 2001 with cement factories in Kryvyi Rih and Kamianske, Dnipropetovsk region and Novoamvrosiivske and Yenakieve, Donetsk region as well as premixed concrete and granite macadam.

Ciments du Maroc posts net loss of MAD-155m

08 March 2017, Published under Cement News

Ciments du Maroc announced a MAD1.2bn (US$118.7m) improvement in its net loss to MAD-155m in 2016. Operating income reached MAD1.292bn in 2016, a 9.8 per cent increase when compared with the previous year. The fall in losses is due to the increase in the weighted average cost of equity and to an impairment provision of the company’s stake in Suez Ciments of MAD1.253bn. In addition, the company's domestic sales edged up by 0.7 per cent, bucking the overall market trend which slipped 0....