Cement News tagged under: Ireland
Breedon Group reports 18% revenue increase26 July 2019, Published under Cement NewsUK-based Breedon Group has reported an 18 per cent YoY rise in revenue to GBP447.4m for the first six months of 2019. Pretax profit advanced 30 per cent to GBP39.5m, compared to GBP30.4m in the 1H18. Ready-mix concrete volumes fell five per cent from 1.6Mm 3 to 1.5Mm 3 , but cement sales were up from 0.9Mt to 1Mt in the 1H19. The company also saw aggregate sales climb six per cent to 9.9Mt from 9.3Mt. "The period began well, with benign weather in the first quarter and generally healthy... |
CRH divests its European Distribution business for EUR1.64bn16 July 2019, Published under Cement NewsCRH has agreed the divestment of its European Distribution business to private equity funds managed by Blackstone for an enterprise value of EUR1.64bn in cash, subject to regulatory approval. The divested business unit consists of CRH's entire general builders merchants business in Europe, including its sanitary heating and plumbing business that serve professional builders, contractors and DIY customers across six countries. In 2018 the business unit generated proforma EBITDA of EUR155m on... |
CRH continues share buy-back29 April 2019, Published under Cement NewsCRH 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 payment25 March 2019, Published under Cement NewsIrish 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 update04 March 2019, Published under Cement NewsCRH 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 201828 February 2019, Published under Cement NewsCRH 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 CRH06 February 2019, Published under Cement NewsEurope'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 buyback31 December 2018, Published under Cement NewsCRH 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 saving20 December 2018, Published under Cement NewsIreland’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 spill10 December 2018, Published under Cement NewsIrish 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... |