Cement News tagged under: HeidelbergCement
HeidelbergCement completes sale of US assets to Cementos Argos01 December 2016, Published under Cement NewsHeidelbergCement has completed the US$660m sale of the Martinsburg cement plant and eight terminals to Cementos Argos. HeidelbergCement had been required to sell the West Virginia plant to comply with regulators following the acquisition of Italcementi. It is expected that the company will use the proceeds of the sale to pay down some of debt it took on to finance the acquisition process. “With the disposal of the US assets we fulfil the obligation of the FTC and improve the net financ... |
HeidelbergCement issues EUR1bn29 November 2016, Published under Cement NewsHeidelbergCement has priced a Eurobond issue under its EUR10bn EMTN programme with an issuance volume of EUR1bn and a maturity date of 7 February 2025. Demand was very high and the bond was oversubscribed several times, reported HeidelbergCement. With this issue, HeidelbergCement tapped the capital market for the first time following the recent investment grade classification. The eight-year bond bears a fixed coupon of 1.50 per cent. The issue price is at 98.529 per cent, resulting in a ... |
HeidelbergCement submits EIA for Kaspi25 November 2016, Published under Cement NewsHeidelbergCement has submitted an environmental impact assessment for its US$100m Kaspi modernisation in Georgia. The report will be discussed on 17 January 2017 after interested entities have submitted their comments. The new dry-process line will be able to produce 3000tpd of clinker. The modernisation project aims to reduce fuel consumption as well as provide the opportunity to use alternative fuels. In addition, the plant is expected to benefit from lower maintenance costs and emissio... |
HeidelbergCement merges HC Trading and Interbulk Trading23 November 2016, Published under Cement NewsFollowing the acquisition of Italcementi by HeidelbergCement Group, HC Trading and Interbulk Trading have merged their operations into a new company with a total turnover of round US$1.4bn (based on 2015 trade volumes). The merger of HC Trading and Interbulk Trading under the entity of HC Trading BV will carry the group’s international trading activities, specialising in cement, clinker, coal and petcoke, one step further by expanding the trade network and improving its position in the ma... |
USA: FTC approves HeidelbergCement divestiture16 November 2016, Published under Cement NewsThe US Federal Trade Commission (FTC) has given its approval to an application from HeidelbergCement and Italcementi for the divestiture of the Essroc Martinsburg cement plant in West Virginia and eight cement terminals, local newspaper the Morning Call reports. The plant and terminals are to be acquired by Cementos Argos for US$660m. The divestiture was required by the FTC to preserve competition in the face of the merger of HeidelbergCement and Italcementi. The deal was originally ag... |
Two ratings firms improve gradings for HeidelbergCement10 November 2016, Published under Cement NewsS&P Global Ratings and Moody's have upped their investment ratings for HeidelergCement following the company's 3Q16 results and the Italcementi acquisition. S&P Global Ratings has assigned a BBB-/A-3 company rating to HeidelbergCement. S&P also upgraded the issuance ratings of Italcementi from BB/B to BBB-/A-3. The outlook on all ratings is stable. “We are very happy about the positive rating decision by S&P,” said Dr Bernd Scheifele, CEO of HeidelbergCement. “It is proof of the strong o... |
HeidelbergCement sees improved results across the board for 3Q1609 November 2016, Published under Cement NewsIn its first results that include the consolidation of Italcementi, HeidelbergCement reported a significant improvement in sales volumes, revenue and operating income in the third quarter of 2016. Cement sales jumped 52 per cent to 33Mt while aggregates volumes advanced 11 per cent to 80Mt and ready-mix concrete deliveries were up 29 per cent to 12Mm 3 . In terms of deliveries, demand rose in several markets, particularly in Europe, but in some parts of North America the company reported ... |
9M16 results see upturn in the US and Egypt04 November 2016, Published under Cement NewsSeveral cement companies released their 9M16 results this week. While the US and Egypt provided a healthy boost to business results for companies such as Titan Cement Group, in Asia and the Middle East returns were less positive. Titan Cement Group released its 9M16 results this week and relied on its Egyptian and US operations to boost its turnover, which climbed to EUR1124m, up 9.2 per cent on the same period in 2015. Several cement producers have seen good margin improvement in Egypt ... |
HeidelbergCement completes Belgian assets' sale to Aalborg Portland Holding26 October 2016, Published under Cement NewsHeidelbergCement has completed the sale of operations in Belgium, primarily consisting of Italcementi’s Belgian subsidiary Compagnie des Ciments Belges SA (CCB) to Aalborg Portland Holding SA (Cementir Group). "With the disposal of the Belgium assets we fulfill the obligation of the European Commission and improve the net financial position of HeidelbergCement after the acquisition of Italcementi," said Dr Bernd Scheifele, CEO of HeidelbergCement. HeidelbergCement and Cementir Holding ... |
HeidelbergCement appoints new Board of Directors for Italcementi21 October 2016, Published under Cement NewsThe HeidelbergCement 19 October shareholder meeting establisheda new Board of Directors for Italcementi. The new members are Luca Sabelli (chairman), Dominik von Achten (executive vice president), Lorenz Näger (executive vice president) and Roberto Callieri (CEO). HeidelbergCement purchased the remaining Italcementi shares that had not been tendered in the mandatory tender offer on 12 October. Therefore, HeidelbergCement is now the sole shareholder of Italcementi and owns 100 per cent of... |