Cement News tagged under: Ireland

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CRH continues share buy-back

29 April 2019, Published under Cement News

CRH plans to repurchase EUR350m (US$390.6m) of ordinary shares between 29 April and 16 August 2019, according to a company statement. Under the terms of the buyback, ordinary shares will be repurchased on the London Stock Exchange and/or Euronext Dublin. CRH has entered into non-discretionary instructions with J&E Davy to conduct the transaction on its behalf and to make trading decisions under the buy-back independently of CRH in accordance with certain preset parameters. With the buy-ba...

Ecocem proposes capital restructure and dividend payment

25 March 2019, Published under Cement News

Irish cement producer Ecocem is preparing to pay out large dividends, reports the Irish Times. Shareholders at Ecocem are likely to recieve healthy dividends after the group proposed to restructure its capital to allow it pay a dividend of up to EUR5m. The directors said the proposed reduction in Ecocem's capital would create a distributable reserve "to allow for the prospect of the payment of dividends in future," as long as the company can afford it. At the end of December, the directors...

CRH announces board update

04 March 2019, Published under Cement News

CRH has announced that Don McGovern will step down from its Board of Directors on 25 April 2019, after serving two three-year terms. "On behalf of the board I would like to thank Don for his commitment to CRH over his six years on the board, and in particular for his service as senior independent director and as chairman of the remuneration committee. We wish him every success in the future," said Nicky Hartery, chairman of the company.

CRH sees 31% hike in group net profit in 2018

28 February 2019, Published under Cement News

CRH reported a six per cent increase in sales revenues to EUR26.79bn in 2018 from EUR25.22bn in 2017. The company’s EBITDA advanced seven per cent to EUR3.365bn in 2018 when compared with EUR3.146bn the previous year. Group net profit jumped 31 per cent to EUR2.521bn from EUR1.919bn in the year-ago period. The company attributes the robust results to strong financial discipline with EUR2.4bn  operating cash flows from continuing operations and a year-end net debt-EBITDA ratio of over 2.1 t...

Cevian Capital announces stake in CRH

06 February 2019, Published under Cement News

Europe's largest activist investor, Cevian Capital, has announced that it has built up a stake in CRH to become its second-biggest individual investor. "The group has many strong positions in attractive markets and we are convinced that CRH's assets could become significantly more valuable," Christer Gardell, managing partner of Cevian, disclosed to Reuters. The exact size of Cevian’s holding is unknown, however a stake of almost three per cent, worth around EUR600m, would be necessary t...

CRH completes third phase of share buyback

31 December 2018, Published under Cement News

CRH has completed the third phase of its share buyback  programme .  Between 27 November and 21 December 2018, 4.1m ordinary shares were repurchased on the London Stock Exchange, bringing total cash returned to shareholders under the ongoing EUR1bn share buyback  programme  to EUR800m.   The company also announced that it has entered into  arrangements with UBS AG, London Branch (“UBS”) to repurchase ordinary shares on CRH’s behalf for a maximum consideration of EUR...

Ecocem announces total CO2 emissions saving

20 December 2018, Published under Cement News

Ireland’s Ecocem, Europe’s largest independent specialist producer of low-carbon cement, has announced that its efforts over 16 years to encourage replacing high-carbon cement with low-carbon cement has resulted in a saving of 10Mt of carbon emissions, according to a press release. The company’s ground-granulated blastfurnace slag (GGBS) cement has a carbon footprint approximately 95 per cent lower than traditional cement at 32kg/t, and can be used as a one-to-one replacement in formulating...

Irish Cement fined EUR4000 for dust spill

10 December 2018, Published under Cement News

Irish Cement has been fined EUR4000 for breaching terms of its industrial emissions licence, when thick “glue-like” dust spilled from its Co Limerick plant, resulting in damage to nearby homes, gardens and cars. The company pleaded guilty at Limerick District Court to one count of breaching the terms of its licence at the Castlemungret works on 3 December 2017. After the company had unsuccessfully attempted to clear a build-up of dust in the kiln, a significant amount of it leaked into t...

Ecocem pretax profit declines 38%

22 November 2018, Published under Cement News

Slag cement producer Ecocem Materials Ltd reported a rise in turnover of 9.4 per cent in 2017 to EUR79.4m (US$90.5m) from EUR72.6m in the previous year. Pretax profit decreased by 37.5 per cent to EUR2.5m last year from EUR4m in 2016. Costs increased by nearly 12 per cent YoY to EUR76.5m from EUR68.6m while the company paid EUR335,000 in interest, a sharp rise when compared with EUR147,821m paid the previous year. Earlier this year the company opened a new plant in Dunkerque , northwest...

CRH completes Phase 2 of share buy-back

22 October 2018, Published under Cement News

CRH has completed the second phase of its share buy-back programme, returning a further EUR350m of cash to its shareholders. Between 29 August and 18 October, 12.5m ordinary shares were repurchased on the London Stock Exchange and Euronext Dublin at an average discount of 1.3 per cent to the volume weighted average price over the period. This brings total cash returned to shareholders under the ongoing EUR1bn share buy-back programme to around EUR700m. "The remaining portion of our buy...