Cement News tagged under: Ireland

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CRH 1Q18 underlying sales slip 2%

26 April 2018, Published under Cement News

A GBP16.5m (EUR19m) deal was concluded with CRH in the early part of 2018, whereby Breedon acquired four quarries and an asphalt plant in Britain in exchange for 27 ready-mixed batching plants and GBP4.9m (EUR5.6m) in cash. CRH's underlying sales in the 1Q18 declined by around two per cent, with European turnover also being off by two per cent. The Americas turnover slipped three per cent while in The Philippines there was a five per cent decline. Group EBITDA in 1H18 are expected to be s...

Irish Cement receives approval to replace fossil fuels

16 April 2018, Published under Cement News

Irish Cement has received permission from An Bord Pleanála to replace fossil fuels at its facilities in Mungret, Limerick, and Platin, Co Meath. The Mungret decision has been criticised by Limerick Against Pollution (LAP), according to The Irish Times. The environmental group has been critical of the plant’s environmental record and the proposal to burn used tyres. However, the EUR10m project received permission from the Limerick City and County Council to proceed. An Bord Pleanála no...

Quinn Industrial Holdings records positive 2017

12 April 2018, Published under Cement News

Quinn Industrial Holdings (QIH) has recorded a 7.4 per cent YoY increase in turnover to EUR209m for the full-year 2017 period. EBITDA saw a significant improvement of 31 per cent, from EUR18.2m to EUR23.9m. The positive results have been partly attributed to a strong performance from Quinn Building Products, which benefitted from the ongoing building recovery in the ROI and stronger exports to the UK via its new cement export hub at Warrenpoint, according to a press release. Liam McCa...

CRH issues new bonds

29 March 2018, Published under Cement News

CRH has issued US$1.5bn of bond debt at a lower cost than expected, reports the Irish Independent. In total, it consists of a 10-year US$900m bond and a 30-year US$600m bond. Both bonds were approximately 200 basis points below initial pricing indications which suggests the level of demand, according to Robert Gardiner, Davy Analyst. The funds are expected to be used to finance the acquisition of Ash Grove Cement, which was purchased last year.

CRH appoints Richard Boucher as a non-executive director

02 March 2018, Published under Cement News

CRH has announced the appointment of Richard Boucher to the board as a non-executive director, with effect from 1 March 2018. Mr Boucher has extensive experience in financial services, and was CEO of Bank of Ireland Group between Feb 2009-Oct 2017. Furthermore, he has held senior management positions within the Royal Bank of Scotland and Ulster Bank. Currently, Mr Boucher is a consultant for Fairfax Financial Group and is a non-executive director of Greece-based Eurobank Ergasias SA.

CRH sees a 3% revenue increase in 3Q17

21 November 2017, Published under Cement News

CRH has reported a three per cent increase in revenue for the third quarter of 2017. The group's EBITDA has also risen two per cent YoY for the 3Q. The company’s trading performance has particularly benefitted from underlying growth in the Americas throughout the period. Elsewhere, the 3Q results from Europe have remained positively consistent with the rest of the year while performance in Asia has deteriorated. CRH has announced for the nine months of 2017 ended September, a two per cent...

CRH plans cash bid for PPC

14 November 2017, Published under Cement News

Ireland’s CRH has registered its interest in submitting a cash bid for South African cement producer PPC as it takes on AfriSam and LafargeHolcim. While PPC did not disclose the amount of the bid, it said it would give the Irish group time for due diligence and to submit an updated bid next week which would include a value per share for the company. "Historically, it would have been unusual for CRH to enter a bidding situation for a listed company, given management's preference for pu...

CRH agrees US$3.5bn acquisition of Ash Grove Cement

21 September 2017, Published under Cement News

CRH plc has reached an agreement to buy US-based Ash Grove Cement Co for US$3.5bn. The proposed transaction is subject to Ash Grove shareholder and regulatory approvals and will be financed through existing financial resources. The transaction is expected to close around year end 2017. Albert Manifold, Chief Executive of CRH, commented: “Ash Grove is an excellent addition to CRH’s portfolio of businesses across North America as we seek to deploy our capital into high quality businesses tha...

Financier acquires 11% stake in Ecocem

05 June 2017, Published under Cement News

Financier Dermot Desmond is reported to have acquired a stake in Ecocem Materials, the low-carbon cement producer founded by Irishman Donal O’Riain and backed by Saint-Gobain. Ecocem holds a 70 per cent stake in a EUR30m 2Mta plant venture with ArcelorMittal and has three cement plants at Ringsend (Ireland), Moerdijk (The Netherlands) and Fos-sur-Mer (France) Via his private equity company, IIU, Mr Desmond is believed to be acquiring as much as 11 per cent of shares, possibly from the Durk...

CRH sees 4% advance in 1Q sales

26 April 2017, Published under Cement News

CRH reported a ‘satisfactory’ start to 2017 with first quarter sales up four per cent compared with a strong first quarter of 2016 which benefitted from very mild weather conditions across all its major markets. In a trading update released today in advance of its AGM taking place tomorrow, the Irish building materials major said group EBITDA for the "seasonally less significant first half of the year" is expected to be ahead of last year (1H16: EUR1.12bn). Based on current momentum, furth...