Cement News tagged under: Italcementi

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HeidelbergCement strengthens finances for Italcementi deal

03 September 2015, Published under Cement News

HeidelbergCement has strengthened its financing to prepare itself for the acquisition of Italcementi. On 31 August, the cement producer completed the disposal of its lime business in Germany to the Belgian Lhoist Group. Both companies agreed not to disclose any details about the transaction. In addition, HeidelbergCement successfully syndicated the bridge financing for the acquisition of Italcementi. All core banks of HeidelbergCement participated in equal shares in the syndication of the c...

HeidelbergCement 'most exposed' as Kazakh tenge falls

20 August 2015, Published under Cement News

After Kazakhstan scrapped the trading band for its currency and moved to a free-floating exchange rate, the Kazakh Tenge dropped 23 per cent today.  Among the European Building Materials companies JP Morgan notes that HeidelbergCement is the most exposed. The German-based cement major generated around approximately one per cent of its EBITDA in Kazakhstan and JP Morgan expect the translational FX impact is likely to be c.37bps hit on EBITDA and around a one per cent hit on earnings per sh...

HeidelbergCement BB+ confirmed on Italcementi deal - Fitch

06 August 2015, Published under Cement News

US ratings agency Fitch has confirmed the 'BB+' rating on German cement maker HeidelbergCement (HC), with outlook stable, following the company's announced purchase of Italian peer Italcementi. HeidelbergCement intends to finance the EUR4.3bn eal (including Moroccan minorities) with EUR800m in shares sold to the seller, EUR1bn in disposals, EUR800m in capex and working capital savings and the remaining EUR1.7bn through a combination of operational cash flow and additional debt. "The affirm...

Italcementi’s improvements in Asia and North America offset declines elsewhere

31 July 2015, Published under Cement News

Italcementi's first-half turnover recovered by 5.8 per cent to EUR2167.5m and running EBITDA improved by 5.3 per cent to EUR324.5m. Helped by a reduction in the impairment charge, the trading profit improved by 9.6 per cent to EUR113m. Net financing costs eased by 0.2 per cent to EUR66m, giving a pretax profit of EUR57.3m, compared with EUR4.3m a year earlier. After tax, there was a EUR3.8m profit, compared with a EUR79.6m loss at the same stage a year ago. The net attributable loss amounted...

Italcementi aims to sell out to HeidelbergCement as consolidation gathers pace

30 July 2015, Published under Cement News

Italcementi's first-half turnover recovered by 5.8 per cent to EUR2167.5m and the running EBITDA improved by 5.3 per cent to EUR324.5m. Helped by a reduction in the impairment charge, the trading profit improved by 9.6 per cent to EUR113m. Net financing costs eased by 0.2 per cent to EUR66m, giving a pretax profit of EUR57.3m, compared with EUR4.3m a year earlier. After tax, there was a EUR3.8m profit, compared with a EUR79.6m loss tat the same stage a year ago. The net attributable loss amo...

HeidelbergCement to acquire Italcementi

29 July 2015, Published under Cement News

Eleven days after the completion of the acquisition of Lafarge by Holcim to form LafargeHolcim, HeidelbergCement has agreed to acquire Italcementi, with a combined cash and share issue for the 45 per cent controlling stake held by Italmobiliare. A cash offer of EUR10.60 per share will be made by HeidelbergCement for the remaining shares in Italcementi. This represents a 70.6 per cent premium on the weighted average share price of Italcementi over the past three months. Dr Bernd Scheifele,...

Italcementi advances in India and Morocco

08 May 2015, Published under Cement News

Italcementi's first-quarter turnover improved by 5.1 per cent to EUR980.5m while the running EBITDA eased 0.4 per cent to EUR95.2m. The trading loss was increased by 13 per cent to EUR4.7m and net interest charge rose by 2.6 per cent to EUR34m. The pretax loss declined by 23.1 per cent to EUR34m but a higher tax charge led to a 7.5 per cent increase in the net attributable loss to EUR73.4m. Net debt at the end of March was 8.7 per cent higher at EUR2343.9m to give a gearing level of 57.7 ...

LH Merger nears completion

01 May 2015, Published under Cement News

As Holcim’s shareholders prepare to meet next Friday to vote on the planned merger with Lafarge, will the confirmed support of Eurocement and a better than expected 1Q15 performance by Lafarge be enough to seal the deal? The planned EUR41bn tie-up between the world's two leading cement majors – billed as a “merger of equals” – was thrown into doubt in March as Holcim demanded new terms, stating that the deal “could no longer be pursued in its present form.” Holcim investors had wat...

Italcementi Group to acquire two Holcim facilities in the US

23 April 2015, Published under Cement News

Essroc, the North American subsidiary of Italcementi group company Ciments Français, has signed an agreement with Holcim to purchase the slag cement grinding facility in Camden, New Jersey, USA. As part of the transaction, Essroc will also obtain Holcim cement terminal in Everett (Massachusetts). The acquisition will be finalised pending completion of the Holcim and Lafarge merger later this year. Holcim’s staff in Camden and Everett will join Essroc, Italcementi said in a statement. The ...

Standard & Poor’s revises Italcementi rating

20 April 2015, Published under Cement News

Standard & Poor’s announced Friday that it has revised the corporate rating of Italcementi SpA, and as a consequence the rating of Italcementi Finance SA’s outstanding unsecured bonds, from BB+ with negative outlook to BB with stable outlook. The rating of Ciments Français SAS’ remaining outstanding bond is also revised to BB/stable. “We acknowledge Standard & Poor’s decision, even if it comes just ahead of what we believe is going to be a positive earnings cycle, driven by both the progr...