Cement News tagged under: Italcementi

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French market regulator clears Italcementi tender offer

11 June 2014, Published under Cement News

French market regulator Autorité des Marchés Financiers (AMF) has cleared Italcementi's tender offer on French unit Ciments Francais, paving the way for the operation aimed at strengthening the Italian cement maker. Italcementi is expected to launch the offer priced EUR79.5 per share by the end of the month. Italcementi owns 84.48 per cent in the French producer and 91.38 per cent of voting rights.

Italcementi prices EUR500m capital increase at EUR4.825/share

06 June 2014, Published under Cement News

Italian cement major Italcementi said its EUR500m capital increase will be priced at EUR4.825/share. The rights issue, part of a plan to strengthen and streamline the group's capital and structure announced on 6 March, is aimed at funding the tender offer on Ciment Francais expected to be launched by the end of the month at a price of EUR79.5/share. The capital increase, due to start on 9 June, will offer in option to shareholders three new shares for every seven shares owned at a price of...

Italcementi sets Ciments Francais bid price

20 May 2014, Published under Cement News

Italcementi said on Tuesday it had fixed the price in a takeover bid for the shares in its French unit Ciments Francais that it does not yet own at EUR79.5/share. The takeover, part of the company's restructuring of its European business, will be financed via a rights issue for up to EUR500m.

1Q14 turnover declines for Italcementi, while EBITDA recovers

09 May 2014, Published under Cement News

Italcementi's first quarter turnover declined by 3.3 per cent to EUR932.9m while the running EBITDA staged a 10.2 per cent recovery to EUR95.5m. The trading loss was reduced by 74.6 per cent to EUR4.2m and net interest charges increased by 29.3 per cent to EUR33.2m. The pre-tax loss increased by 19.6 per cent to EUR44.2m, but a lower tax charge reduced the net attributable loss by 12.7 per cent to EUR68.3m. The net debt at the end of March was 1.4 per cent lower at EUR2,076.5m, to give a ge...

Groundbreaking for Zuari packing terminal, India

24 April 2014, Published under Cement News

Zuari Cement on Tuesday held a groundbreaking ceremony for a 1Mta port-based cement-packing terminal at the Kochi port on the west coast of India. The unit is expected to become operational by the third quarter of 2015, according to Nabil Francis, managing director of Zuari Cement. He added that the Kochi terminal will  enhance the company’s access to western and southern markets as well as possibly increase exports. Currently, the company, which is part of the Italcementi group, has two...

Italcementi shareholders approve 2013 results

17 April 2014, Published under Cement News

At Italcementi’s annual general meeting in Bergamo yesterday, the shareholders of Italcementi SpA approved the financial statements for 2013. The company closed the year with an operating profit of EUR159.3m (against a loss of EUR140.2m the year before) and revenue of EUR4235.4m. The AGM approved distribution of a dividend of EUR0.06/each ordinary share (EUR0.06 in FY12) and EUR0.06/each savings share (EUR0.06 : 2012), with the total corresponding amount to be withdrawn from the extraordina...

Essroc’s Nazareth cement plant earns Energy Star certification

04 April 2014, Published under Cement News

Essroc’s cement plant in Nazareth, PA has earned the US Environmental Protection Agency’s (EPA) Energy Star certification which signifies that the facility performs in the top 25 per cent of similar facilities nationwide for energy efficiency and meets strict energy efficiency performance levels set by the EPA. “Essroc is pleased to accept EPA’s Energy Star certification in recognition of our energy efficiency efforts,” said Paul Stewart, Nazareth plant director. “Through this achievemen...

Singha's Sri Lanka terminal on track for 2015 completion

26 March 2014, Published under Cement News

Singha Cement’s new state-of-the-art Sri Lankan cement terminal is on track for completion next year, doubling the company's existing capacity. “The reason for this expansion is to meet the high demand for Singha cement in the country as well as to provide an enhanced, quality service to our customers,” Colin Nelson, managing director of the company, told Lanka Business Today. Singha Cement, part of the Italcementi Group, currently operates a land based terminal at Peliyagoda in Colombo, f...

Italcementi eyes Myanmar investment

11 March 2014, Published under Cement News

Italian cement major Italcementi is studying the possibility of entering the Myanmar market in the the next few years, its chief executive has said in a recent interview. Speaking to The Nation about Italcementi's growth potential in the Asean region, Carlo Pesenti said: "We are negotiating with a local partner in Myanmar and also studying the country's Foreign Investment [Law]," he said. Italcementi is already active in Southeast Asia through its  Jalaprathan Cement and Asia Cement operat...

Italcementi: 2013 turnover declines 5.4%

07 March 2014, Published under Cement News

Italcementi's 2013 turnover declined by 5.4 per cent to EUR4,235.4m while the underlying EBITDA way off by just 1.9 per cent to EUR631.0m. The depreciation charge declined by 6.5 per cent to EUR426.5m and impairment charges dropped by 89.6 per cent to EUR32.1m from EUR309.4m and the previous year's trading loss EUR140.2m was turned into a trading profit of EUR159.3m. Net financial charges rose by 31.1 per cent to EUR123.9m and the contribution from associates declined by 27.2 per cent to ...