Cement News tagged under: Italcementi

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Italcementi sells its own shares to HeidelbergCement for EUR40.9m

19 September 2016, Published under Cement News

Italcementi tendered on 19 September 3,861,604 company shares, corresponding to all of its own shares held, for a total of EUR40.9m during the mandatory takeover bid launched by German HeidelbergCement on the shares it did not own in the Italian group. Italcementi shares were bought by HeidelbergCement France at a price of EUR10.6 per share, as provided in the tender documents on Italcementi shares, a joint statement of Italcementi and HeidelbergCement Group said.

Nabil Francis new Managing Director of Ciments du Maroc

02 September 2016, Published under Cement News

The Board of Directors of Ciments du Maroc has appointed Nabil Frances as new Managing Director, replacing Mario Bracci as of 1 September. Mr Francis was first employed by Italcementi Group in 1998 and has filled several positions of responsibility in France, Sri Lanka, Egypt and Bulgaria. Since 2013 he headed up the Zuari Cement Ltd subsidiary in India.

US: HeidelbergCement moves closer to acquiring Essroc

17 August 2016, Published under Cement News

HeidelbergCement AG and its Italian rival Italcementi SpA, the owner of Nazaerth-area Essroc operations have agreed to divest certain assets to settle the Federal Trade Commission's charge that the proposed US$4.2bn merger would likely harm US competition. The deal is not expected to affect area cement-making operations, officials from both companies said to The Morning Call on Tuesday. HeidelbergCement owns Lehigh Hanson Inc, which is based in Irving, Texas, while Italcementi owns Essroc ...

Italcementi hit by restructuring and impairment charges

02 August 2016, Published under Cement News

Italcementi's first-half turnover declined by 2.1 per cent to EUR2122.6m and running EBITDA was 7.6 per cent lower at EUR300m. Hit by restructuring and impairment charges, the trading profit of EUR113m was turned into a EUR2090.6m trading loss. Net financing costs increased by 3.6 per cent to EUR68.4m, giving a pretax loss of EUR291.1m, compared with EUR57.3m profit a year earlier. At the net attributable level there was a EUR372.8m loss, compared with a EUR32.6m a year earlier. Net debt ...

Philippines: Human rights body begins investigation into GHG-emitting firms

29 July 2016, Published under Cement News

The Commission on Human Rights of the Philippines (CHR) has begun an investigation into the possibility that major carbon-emitting multinationals have breached human rights law, The Guardian reports. This follows a petition from a group of environmental NGOs led by Greenpeace, which identified 47 Carbon Majors - publicly-traded companies that collectively are responsible for 21.6 per cent of greenhouse gas emissions in the period from 1751 to 2013. The companies involved include major cem...

Cementir to acquire HeidelbergCement’s Belgian operations

25 July 2016, Published under Cement News

Cementir has announced that it is to acquire HeidelbergCement’s Belgian assets for an enterprise value of EUR312m (US$342m). The deal primarily consists of Compagnie des Ciments Belges SA and is subject to the European Commission giving its approval. HeidelbergCement has been obliged to sell its Belgian operations as part of the process of acquiring Italcementi. In 2015 the assets generated pro forma sales of EUR180m (US$197m) on sales of 1.8Mt of cement, 4.8Mt of aggregates and 0.8Mm 3 ...

HeidelbergCement completes 45% shareholding in Italcementi

04 July 2016, Published under Cement News

HeidelbergCement AG has completed the acquisition of a 45 per cent shareholding in Italcementi SpA from Italmobiliare SpA. All conditions for the closing of the transaction have been fulfilled following the approval by the relevant competition authorities. "Today’s closing is an important milestone in the history of HeidelbergCement," said Dr Bernd Scheifele, chairman of the Management Board, on Friday, 1 July. "By adding Italcementi to our Group, we are considerably strengthening our globa...

Italmobilaire to acqure non-core assets

22 June 2016, Published under Cement News

HeidelbergCement AG and Italcementi SpA have made an amendment to HeidelbergCement's acquisition of the entire participation held by Italmobiliare in Italcementi SpA. The new procedure will allow the parties to proceed with the closing of the transaction on 1 July 2016. Before the closing date, Italmobiliare will now acquire the “non-core assets” ie those participations currently held by Italcementi in Italgen SpA and BravoSolution SpA, as well as certain real estate assets. Italmobili...

USA: clearance for Italcementi acquisition

20 June 2016, Published under Cement News

On 17 June 2016, the United States Federal Trade Commission reached an agreement with HeidelbergCement AG and Italcementi SpA allowing the merger between the two companies to proceed on schedule. The Federal Trade Commission accepted the proposed divestment of operations in the US, which primarily consists of Italcementi’s Martinsburg, West Virginia plant and up to 11 terminals. All competition approvals necessary for closing the Italcementi acquisition have now been obtained. The full...

European Commission gives green light to HeidelbergCement's Italcementi acquisition

27 May 2016, Published under Cement News

HeidelbergCement has received clearance from the European Commission for the acquisition of Italcementi. The European authority accepts the proposed divestment of operations in Belgium, i.e. Italcementi’s local subsidiary Compagnie des Cements Belges SA (CCB), to avoid anti-competition issues in Europe. “We are very pleased with the positive decision of the European Commission”, says Dr Bernd Scheifele, chairman of the Managing Board of HeidelbergCement. “This decision is an important mil...