Cement News tagged under: HeidelbergCement
CBR to close Harmignies cement plant, Belgium23 January 2014, Published under Cement NewsCBR, part of HeidelbergCement, announced Wednesday to staff representatives that the company plans to close the Harmignies 0.22Mta white cement plant in Belgium, a move which is expected to affect 97 jobs. "This announcement can be explained by the structural difficulties faced by the plant as well as the deterioration of the white cement market. If it is confirmed, this could generate for the collective dismissal of 97 workers at the site," said the works’ management, stressing that a the... |
Carpatcement to invest EUR15m this year15 January 2014, Published under Cement NewsCarpatcement Holding, part of HeidelbergCement, plans to invest around EUR15m this year in energy efficiency, environmental projects and staff development. "Regardless of difficulties on the Romanian market, which we have considered, we have always pursued developing our presence in Romania in the long run. Although at times we have had to reduce activity, investments have remained a priority in terms of business growth and sustainable development," company general manager Florian Aldea sa... |
HeidelbergCement completes the sale of Raigad grinding unit06 January 2014, Published under Cement NewsHeidelbergCement India has completed the sale and transfer of its cement grinding facility situated at Raigad in state of Maharashtra to JSW Steel, as a going concern on slump sale basis. JSW Steel is one of the largest steel manufacturing companies in India having units in Karnataka and Maharashtra producing crude steel, long steel and flat steel products. |
CCI clears JSW Steel acquisition of Heidelberg plant17 December 2013, Published under Cement NewsThe Competition Commission of India (CCI) has approved the acquisition of HeidelbergCement India's grinding facility at Raigad, Maharashtra, by JSW Steel. JSW Steel announced back in October its intention of acquiring the 0.6Mta grinding works. "Considering the facts on record and the details provided in the notice (under relevant Section of the Competition Act) ...the Commission is of the opinion that the proposed combination is not likely to have appreciable adverse effect on competi... |
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. |
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... |
HeidelbergCement plans India bond placement03 December 2013, Published under Cement NewsHeidelbergCement India plans to raise INR3.7bn (US$59.4m) by issuing non-convertible debentures on private placement basis. "... subject to receipt of various approvals, planning to offer and issue Indian rupee denominated, rated, listed, unsecured, redeemable, non-convertible debentures aggregating to INR3700m, on private placement basis, to its non-resident parent/ group company (ies), which qualify as Qualified Foreign Investors (QFIs)...," the company said in a BSE filing. He... |
PT Indocement02 December 2013, Published under Cement NewsPT Indocement has posted a 7.9 per cent YoY rise in gross profit in 9M13 to IDR6.2trn (US$640m), compared to 9M12. Operating income over the same period has increased from IDR4.14trn to IDR4.42trn and EBITDA has risen around 7.5 per cent to IDR4.9trn, pushing basic earnings per share up from IDR914 to IDR980. Part of the HeidelbergCement group, PT Indocement currently operates 12 lines with a total capacity of 18.6Mta. It is hoping to boost this to 28Mta by 2018. Two new lines are current... |
HeidelbergCement doubles Group profit in 3Q1307 November 2013, Published under Cement NewsHeidelbergCement records that sales volumes improved in all business lines compared with the 3Q12, due to the continued recovery of demand for construction materials in Europe and North America as well as the sustained growth in Asian and African countries. During the third quarter, cement and clinker sales volumes increased by 4.1 per cent to 25.3Mt (24.3Mt in 3Q12). The North American operations experienced the strongest growth in sales volumes, followed by Asia-Pacific and Africa-Medite... |
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... |