Cement News tagged under: Italcementi

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Suez Cement plans to complete coal conversion project by end-2016, Egypt

08 January 2016, Published under Cement News

Suez Cement, part of the Italcementi group, plans to complete its preparations for coal usage at its plants by late 2016, local press reported, citing chairman Omar Mehanna Wednesday. The conversion process involves an investment of around US$110m. Mr Mehanna further told Amwal Al Ghad business magazine that Suez Cement had completed the conversion for coal usage at two plants out of five during 2015. The company aims to use coal as an alternative energy source for the production of cemen...

Italcementi sells Italgen and BravoSolution to parent

21 December 2015, Published under Cement News

In connection with the agreement between its parent Italmobiliare and HeidelbergCement announced by Italmobiliare on 28 July 2015, the Italcementi Board of Directors today approved the sale to Italmobiliare of a number of non-core assets.These include Italcementi's current equity investments in renewable energy (Italgen) and in e-procurement (BravoSolution), as well as a property located in central Rome. The consideration for the non-core assets has been determined on the basis of an overall...

USA: Essroc’s Energy Star cement plants

09 December 2015, Published under Cement News

Essroc’s Martinsburg and Nazareth cement operations, have for the second year in a row, earned the US Environmental Protection Agency’s (EPA’s) ENERGY STAR certification. This endorsement signifies that the industrial facilities perform in the top 25 per cent of similar facilities nationwide for energy efficiency and meets strict performance levels set by the EPA. “Essroc is pleased to accept EPA’s ENERGY STAR certification in recognition of our energy efficiency efforts,” said Jean-Paul ...

Morocco: Cimar sees 7.6% EBITDA rise in 3Q15

16 November 2015, Published under Cement News

Italcementi-owned Ciments du Maroc (Cimar), Morocco, saw its turnover rise 1.8 per cent to MAD823m (EUR77.4m) in 3Q15, according to analysts at BMCE Capital Bourse. The figures do not reflect the current slowdown in public works and a lack of investment in social housing, which saw cement and clinker flows fall by 15.8 per cent QoQ (-4.2 per cent in 9M15). The rise in the cement price as well as the healthy sales of ready-mix concrete and aggregates, which expanded by 39.4 and 21.1 per cen...

Italcementi’s North American and Bulgarian cement volumes ahead, but softer elsewhere

10 November 2015, Published under Cement News

Italcementi's turnover improved by 3.2 per cent to EUR3217m in the first nine months the year and the running EBITDA was 1.7 per cent ahead to EUR482.9m, while the trading profit eased by 0.4 per cent to EUR165.6m. The net interest charge declined by 14.9 per cent to EUR85.0m and, after other items, the pre-tax profit rose by 31.8 per cent to EUR60.9m in the absence of impairment charges. After a 37.2 per cent reduction in the tax charge to EUR69m, the net attributable loss was more than ...

HeidelbergCement 3Q15 revenue rises 3% YoY

05 November 2015, Published under Cement News

HeidelbergCement reported a three per cent rise in group revenue to EUR3.6bn in the first three months of the ‘despite partly adverse market conditions,’ the company said in a statement today. The German cement major said that excluding consolidation and exchange rate effects, revenue decreased by 1.9 per cent. While the effects from changes in the consolidation scope to the amount of EUR23m were negligible, the weakening of the euro against numerous currencies amounting to EUR162m in total...

Italcementi, trade unions study solution for new lay-off scheme for 2016

16 October 2015, Published under Cement News

Italcementi and the trade unions are looking for a solution for the temporary lay-off scheme that will expire in January 2016, according to reports by local media. At a recent meeting the parties determined that it is not possible to extend the current temporary lay-off scheme and consequently they are studying alternatives that would allow wider coverage compared to the initial programmes. In a statement the trade unions explain that one of the hypotheses could entail the use of the sche...

S&P raises Italcementi outlook to positive

09 October 2015, Published under Cement News

Standard & Poor's (S&P) has raised its outlook on Italcementi and its French subsidiary Ciments Francais to positive from stable. The BB/B ratings are affirmed. The outlook revision follows the completion of the rating's agency's review of HeidelbergCement's plans to purchase Italmobiliare's 45 per cent shareholding in Italcementi for approximately EUR1.67bn, announced in July 2015. S&P believes that the combined group's credit profile will likely be higher than that of Italcementi on a st...

Italcementi announces change to Board of Directors

05 October 2015, Published under Cement News

Italcementi announced that Elena Zambon is retiring from its Board of Directors for professional reasons. Ms Zambon had been acting as Independent Director and was a member of the Strategic Committee of the Company, having been in charge since 16 April 2010.

CCI clears HeidelbergCement-Italcementi deal

25 September 2015, Published under Cement News

Competition Commission of India (CCI) has approved HeidelbergCement's proposed acquisition of Italcementi SpA. The fair trade regulator said in a tweet said it has approved "acquisition of Italcementi SPA by HeidelbergCement AG".