Cement News tagged under: HeidelbergCement

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HeidelbergCement achieves high acceptance rate for Italcementi share offer

03 October 2016, Published under Cement News

HeidelbergCement achieved a high acceptance rate in the mandatory tender offer to the remaining shareholders of Italcementi. According to provisional results, 165,371,229 Italcementi shares were tendered at the end of the subscription period, on 30 September 2016. In addition, HeidelbergCement purchased 14,000,000 Italcementi shares outside the offer on the stock exchange. Together with the 45 per cent stake already acquired from Italmobiliare on 1 July 2016, the tendered and acquired shar...

Cementos Argos

27 September 2016, Published under Cement News

Cementos Argos has agreed to purchase the Essroc cement plant in Martinsburg, West Virginia, USA, from HeidelbergCement. The deal, which is reputedly worth around US$650m, forms part of HeldelbergCement’s divestment plans resulting from its ongoing acquisition of Essroc’s parent company, Italcementi. To help fund the purchase, Cementos Argos has sold a 20 per cent stake in its Panamanian subsidiary to Panama-based real estate investment firm Grupo Provivienda for US$126m. This leaves Cemento...

USA: public asked for their comments on Martinsburg plant's future

27 September 2016, Published under Cement News

Federal regulators are seeking public opinion on one aspect of the pending US$4.2bn merger between HeidelbergCement and Italcementi that will include a change in ownership for Essroc Cement Corp and the Martinsburg cement plant, West Virginia. The Federal Trade Commission (FTC) have raised concenrs about the likelihood that the sale of the Martinsburg cement plant to Argos USA LLC for US$660m would likely harm competition in five US markets - Indianapolis, Baltimore-Washington, DC, Syracus...

UK cement after Brexit

21 September 2016, Published under Cement News

The UK’s cement sector has seen substantial change in the last 12 months, with new cement producers coming to the market and a raft of legislation to ensure a competitive market for customers going forward. The recent Brexit vote has cast a shadow over the economy, but even though several very large projects are currently on hold, the long-term fundamentals for cement demand remain strong. HeidelbergCement-owned Hanson operates around 3Mta of cement capacity at plants in Padeswood ...

Italcementi sells its own shares to HeidelbergCement for EUR40.9m

19 September 2016, Published under Cement News

Italcementi tendered on 19 September 3,861,604 company shares, corresponding to all of its own shares held, for a total of EUR40.9m during the mandatory takeover bid launched by German HeidelbergCement on the shares it did not own in the Italian group. Italcementi shares were bought by HeidelbergCement France at a price of EUR10.6 per share, as provided in the tender documents on Italcementi shares, a joint statement of Italcementi and HeidelbergCement Group said.

USA: Martinsburg plant sale to reduce HeidelbergCement's debt funding

12 September 2016, Published under Cement News

The gap to repay a EUR2.7bn bridge facility that supports HeidelbergCement's purchase of Italcementi is set to close, once the HeidelbergCement cashes in the sale of its Martinsburg cement plant. On 8 September HeidelbergCement sealed an agreement to sell Essroc's plant in West Virginia to Colombian cement producer Cementos Argos for EUR580m. This follows HeidelbergCement's acquisition of Italmobiliare in July for EUR6bn. Talking on the sale of Martinsburg, analysts from Moody said:...

New MD for Twiga Cement

05 September 2016, Published under Cement News

Tanzania Portland Cement Company, or Twiga Cement, has appointed a new managing director following the departure of the company’s previous MD decision to take on a new role in parent company, HeidelbergCement Group. Alfonso Rodriguez was replaced by Alfonso Velez Martinez on 23 August, according to a company statement. Mr Martinez is said to have 20 years of experience in the cement industry. Mr Rodriguez is set to take on the role of General Manager for Central and South-East Africa Oper...

HeidelbergCement

02 September 2016, Published under Cement News

To eliminate monopoly issues in the USA caused by the acquisition of Italcementi, HeidelbergCement has agreed to sell the cement works at Martinsburg, West Virginia, and eight cement terminals to Cementos Argos for US$600m. This transaction is expected to be completed during the final quarter of this year. HeidelbergCement has agreed to sell its aggregates operations in the Gothenburg region to Swerock, a subsidiary of the Swedish contracting group Peab, for around EUR11.6m, with the deal...

Nabil Francis new Managing Director of Ciments du Maroc

02 September 2016, Published under Cement News

The Board of Directors of Ciments du Maroc has appointed Nabil Frances as new Managing Director, replacing Mario Bracci as of 1 September. Mr Francis was first employed by Italcementi Group in 1998 and has filled several positions of responsibility in France, Sri Lanka, Egypt and Bulgaria. Since 2013 he headed up the Zuari Cement Ltd subsidiary in India.

Sweden: Swerock to acquire HeidelbergCement operations in Western Götaland

31 August 2016, Published under Cement News

Swerock AB has signed a deal with HeidelbergCement Northern Europe to acquire the latter’s gravel and rock operations. The two companies have signed a letter of intent and are expected to reach a more comprehensive agreement on 1 September 2016. The HeidelbergCement assets affected by this deal generated revenues of SEK110m (US$13m) in 2015.