Cement News tagged under: Ireland

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Ireland: two former divisions of Quinn to be acquired

09 July 2014, Published under Cement News

A consortium, including some executives from Sean Quinn's old business empire, expects to buy two divisions of the old business over the next two months. The Quinn Business Retention Company (QBRC), headed by the former tycoon's number two Liam McCaffrey, has teamed up with a UK private equity house Endless LLP for the arrangement. Aventas Manufacturing Group, which took over much of the Quinn businesses along the border after it was put in receivership, said talks on the buyout are ongoing...

CRH expects 2014 profit growth

25 February 2014, Published under Cement News

Irish building materials major CRH said 2013 represented a trough in its profits and expects growth in 2014 encouraged by improving trends in the USA and signs of stabilisation in Europe. Full-year turnover eased by an underlying 0.3 per cent in 2013 to EUR18,031m while the EBITDA declined by 5.6 per cent to EUR1,475m. The trading profit before charging EUR650m of impairments was down by 10.0 per cent to EUR750m, with European building products accounting for nearly two thirds of this ch...

CRH appoints non-executive director, Ireland

21 February 2014, Published under Cement News

The board of CRH plc announced the co-option to the board of Henk Rottinghuis as a non-executive director. Mr Rottinghuis (58), a Dutch citizen, has a background in distribution, wholesale and logistics.  He was until 2010 CEO at Pon Holdings BV, a large, privately held international company which is focused on the supply and distribution of passenger cars and trucks, and equipment for the construction and marine sectors. He is currently chairman of the Supervisory Board of Stork Technical...

EUR16m investment in Quinn SRF project

16 January 2014, Published under Cement News

Aventas Group, formerly Quinn Manufacturing Group, is to invest EUR16m in an alternative fuels project at its Quinn Cement plant in Ireland. Aventas said it is to convert the 1.4Mta Ballyconnell plant to use solid recovered fuel (SRF) so it can reduce reliance on more expensive high-quality South African coal. According to plant manager, Barry King, the project will reduce carbon emissions by about 20 per cent. Aventas Group chief executive, Paul O'Brien said: "This is the first significan...

CRH full-year development spend

07 January 2014, Published under Cement News

CRH announced a total of seven acquisitions and investment initiatives in the second half of 2013, taking full-year development activity to EUR0.69bn. The company invested EUR0.22bn in the six months to the end of December last year, including one transaction in Asia, three under its American Materials division and a further three in its Distribution segment. Commenting on the these developments, CRH’s new chief executive Albert Manifold said: “Development spend of almost EUR0.7bn in 2013...

Chief executive succession at CRH

02 January 2014, Published under Cement News

CRH plc confirms that Albert Manifold has succeeded Myles Lee as group chief executive, effective 1 January 2014.  Mr Lee has retired after 32 years with the group including five years as finance director and five years as chief executive. Commenting on the announcement, CRH chairman Nicky Hartery said: “We wish Myles well in his retirement and thank him sincerely for his outstanding contribution to CRH over 32 years of service, and for his excellent stewardship of CRH through the recent...

CRH results broadly in line with last year

12 November 2013, Published under Cement News

In its autumn trading statement, CRH announced that it expects the EBITDA to be broadly in line with last 2012 numbers, assuming normal weather patterns for the remainder of the year. Depreciation and amortisation charges as well as the net interest charge are forecast to be a little lower than in 2012, though the net debt is expected to be about EUR300m higher. Acquisitions and large capital investments amounted to around EUR660m, of which EUR492m were in heavy building materials, and incl...

CRH opens regional headquarters in Singapore

17 October 2013, Published under Cement News

CRH announced the official opening today of its regional headquarters in Singapore, to oversee the expansion of its existing interests in India and China, and to pursue further development opportunities in the wider Asia region. Commenting on the opening, Ken McKnight, President of CRH Asia said:“ The opening of our regional headquarters in Singapore today marks a further step in the evolution of CRH and an important catalyst for growth in Asia in the medium term.  CRH entered the China ma...

CRH announces US management changes

19 September 2013, Published under Cement News

CRH plc announces that Doug Black, chief operating officer of Oldcastle, Inc (the holding company for CRH's interests in the Americas) is leaving the group to pursue other interests.  As a result of this, Randy Lake, chief executive of Oldcastle Materials, Keith Haas, chief executive of Oldcastle Building Products, Bob Feury, chief executive of Oldcastle Distribution and Joe Myers, president of Oldcastle Building Solutions, will report directly to Mark Towe, chief executive of Oldcastle. C...

CRH hit by hard winter

21 August 2013, Published under Cement News

CRH's first-half turnover declined by 3.2 per cent to €8007m and the EBITDA fell by 24 per cent to €397m. The trading profit dropped by 74.7 per cent  to €41m and the pre-tax result fell from a €102m profit to a loss of €71m in spite of a 3.3 per cent reduction in the net interest charge to €146m. A restatement to reflect accounting changes reduced last year's pre-tax profit from €117m to €102m. The net attributable result went from a €98m profit to a €57m loss. Net debt at the end of Jun...