Cement News tagged under: Italcementi Group

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Italy: strike planned over Heidelberg/Italcementi merger

04 April 2016, Published under Cement News

A strike with national demonstration has been announced for Friday, 29 April 2016 to protest about the possible job cuts for Italcementi workers over the proposed merger with HeidelbergCement Group. The strike was announced by the national coordination of RSU group meeting in Rome. Opponents claim that there is the possibility of up to 2300 jobs in Italy being at risk if the merger is completed. "It's been months but, unfortunately, we have no news from the government about what is happeni...

Italcementi disposes of WCC stake

21 September 2015, Published under Cement News

Italcementi Group, via its affiliate CimFra (China) Ltd SAS, has disposed of its 5.24 per cent stake in West China Cement (WCC) for an upfront consideration of HKD341m, equivalent to approximately EUR38.5m, subject to later adjustments through a derivative contract with Credit Agricole CIB. The disposal of the minority WCC stake has no impact on EBITDA generation capacity at group level, Italcementi said in a statement on Friday.

Egypt: Suez Cement sees 3% fall in 1Q15 revenues

01 May 2015, Published under Cement News

Suez Cement Group of Companies (SCGC), part of the Italcementi Group, saw revenues decline three per cent in the first three months of the year versus the same period of 2014. EBITDA for the quarter also fell by 49 per cent, mainly due to rising fuel prices resulting in a sharp 66 per cent drop in net profit. Unforeseen pressures on the construction sector as a whole were said to have depressed overall demand for cement products and, coupled with higher energy costs, this negatively impac...