Cement News tagged under: HeidelbergCement

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HeidelbergCement to sell US assets to Cementos Argos in US$660m deal

18 August 2016, Published under Cement News

HeidelbergCement has agreed to sell its plant in Martinsburg (WV), USA, and eight terminals to Cementos Argos for US$660m. The deal is subject to regulatory approval, but the Federal Trade Commission had ordered the disposal as a result of the Italcementi acquisition. HeidelbergCement said that it expected the transaction to be completed in the fourth quarter of 2016. The deal involves the disposal of the company's Lehigh and Essroc subsidiaries. Dr Bernd Scheifele, chairman of the Man...

US: HeidelbergCement moves closer to acquiring Essroc

17 August 2016, Published under Cement News

HeidelbergCement AG and its Italian rival Italcementi SpA, the owner of Nazaerth-area Essroc operations have agreed to divest certain assets to settle the Federal Trade Commission's charge that the proposed US$4.2bn merger would likely harm US competition. The deal is not expected to affect area cement-making operations, officials from both companies said to The Morning Call on Tuesday. HeidelbergCement owns Lehigh Hanson Inc, which is based in Irving, Texas, while Italcementi owns Essroc ...

HeidelbergCement

02 August 2016, Published under Cement News

HeidelbergCement's first-half results show a one per cent reduction in turnover to EUR6407.0m but EBITDA improved by 5.8 per cent to EUR1112.1m, while the trading profit advanced by 9.9 per cent to EUR728.3m.  The net interest charge declined by 22.5 per cent to EUR221m and the pretax profit rose by 24.9 per cent to EUR507.3m. The net attributable profit improved by 66 per cent to EUR246.3m. Net debt at the end of June was 7.4 per cent lower than a year earlier at EUR5855m, giving a geari...

Ghana: ban on imports

01 August 2016, Published under Cement News

With concerns registered by trade groups in the country, the importation of cement to Ghana will be banned following a change to the Import and Export Regulations Bill. The new Bill will outlaw bagging and importation of cement to Ghana starting from 5 August 2016. Due to Ghana’s cooperation with the ECOWAS trade agreements, this new regulation will exempt imports from ECOWAS-member countries. Those looking to import cement from non-ECOWAS-member countries will have to apply for renewable...

Strong Europe performance boosts HeidelbergCement 2Q16 results

29 July 2016, Published under Cement News

A robust performance in Europe has contributed to HeidelbergCement’s improved 2Q16 results. The Germany-based building materials producers reported second-quarter sales of EUR3.575bn, down two per cent YoY but up one per cent on a like-for-like (LFL) basis. All business lines saw their sales increase. Operating income rose by eight per cent to EUR601m from EUR557m in 2Q15, although LFL this increase was 11 per cent and all business lines saw their margins improve. Net profit for 2Q15 improve...

Philippines: Human rights body begins investigation into GHG-emitting firms

29 July 2016, Published under Cement News

The Commission on Human Rights of the Philippines (CHR) has begun an investigation into the possibility that major carbon-emitting multinationals have breached human rights law, The Guardian reports. This follows a petition from a group of environmental NGOs led by Greenpeace, which identified 47 Carbon Majors - publicly-traded companies that collectively are responsible for 21.6 per cent of greenhouse gas emissions in the period from 1751 to 2013. The companies involved include major cem...

India: Zuari Cement gets new MD as part of Italcementi acquisition

28 July 2016, Published under Cement News

Jamshed Naval Cooper, formerly CEO and managing director of HeidelbergCement India Ltd (HCIL), is to become managing director of Zuari Cement and managing director of HCIL, India Infoline reports. Mr Cooper, who previously worked for ACC before joining HCIL in 2006, will now be responsible for managing the affairs of both companies. Zuari Cement is an Italcementi subsidiary and the appointment of an HCIL executive as managing director reflects the changes brought about by HeidelbergCement...

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 ...

Cyprus: Vassiliko Cement does not expect strategy change

05 July 2016, Published under Cement News

Cyprus’s Vassiliko Cement Works Plc Ltd said HeidelbergCement AG is now in control of almost 26 per cent of the Cypriot cement company's voting rights after it acquired a controlling stake in two of its major shareholders. HeidelbergCement directly and indirectly owns 45.5 per cent of Italcementi, which in turn is the owner of of Compagnie Financière et de Participations and Italmed Cement Co, which own 9.7 and 16.3 per cent of Vasiliko shares, respectively, reports Cyprus Business Mail....

HeidelbergCement

04 July 2016, Published under Cement News

HeidelbergCement Georgia sold 1.63Mt of cement and clinker during 2015, a 19 per cent increase YoY.  The company enjoys a 60 per cent share of the Georgian market and intends to invest some US$100m to build a dry process production line at Kaspi.  This should enable the company to lower prices and offer stiffer competition with Black Sea Cement, which is building a 1.5Mta cement works at Senake at a cost of some US$120m.  The Senaki works should come online towards the end of next year and i...