Cement News tagged under: Italy
Italcementi workers presents demands25 April 2016, Published under Cement NewsThe Italian unions Feneal Uil, Filca Cisl and Cgil Fillea representing Italcementi cement workers, have announced a strike in response to the industrial plan proposed by the government, which may result in 415 dismissals this year and further 250 redundancies in 2017. On 14 April, workers at Italcementi declared their intention to strike, arguing that Heidelbergcement, which is in the process of acquiring the Italian cement manufacturer, had failed to address workers’ concerns. HeidelbergCe... |
HeidelbergCement to sell Italcementi's Belgian operations as part of integration plan06 April 2016, Published under Cement NewsHeidelbergCement has laid out its plans for the restructuring of Italcementi's operations following the former's moves to acquire a 45 per cent stake in the Italian firm last July. These include selling off Italcementi’s entire Belgian operations to address competition concerns. In a press release, HeidelbergCement said that the integration process will see the retention of Italcementi’s Italian operations and brand. The company adds that it expects the acquisition to be finalised by July... |
Cementir: hearing with creditors and opening of creditors’ vote for Sacci's composition16 March 2016, Published under Cement NewsCementir Holding has announced that the hearing with creditors for Sacci’s composition, which includes the offer to purchase its business divisions submitted by Cementir Holding’s subsidiary Cementir Italia Spa, was held on 14 March 2016 before the Court of Rome. The offer was formally accepted by the Board of Directors of Sacci Spa during its meeting on 10 March 2016. Sacci’s creditors will be able to express their vote within 20 days of the hearing, in accordance with Article 178, para... |
Cementir reduces debt but also net profit11 March 2016, Published under Cement NewsCementir Holding's turnover in 2015 recovered by 2.2 per cent to EUR969.0m, but EBITDA emerged just 0.8 per cent ahead at EUR194m. The trading profit, however, declined by 6.3 per cent to EUR97.61m while the net interest line went from a negative EUR4.6m to a positive EUR4.0m and the pretax profit improved by 2.2 per cent to EUR101.6m. Higher tax and minorities charges gave a net attributable profit 5.8 per cent lower at EUR67.5m. Net debt at the end of 2015 was 20.2 per cent lower at EUR... |
Cementir given antitrust approval for Sacci deal08 March 2016, Published under Cement NewsThe Italian Antitrust Authority has approved Cementir’s offer to purchase Sacci Spa's cement and ready-mix concrete business divisions. In a statement released yesterday, Cementir Holding said the Italian watchdog had published its decision not to carry out an investigation into the transaction, thus authorising subsidiary Cementir Italia to proceed with the acquisition. Sacci’s composition with creditors will be submitted to the vote of its creditors at a hearing set by the Court for ... |
Buzzi Unicem preliminary figures show revenues rise 6.2 per cent in 201515 February 2016, Published under Cement NewsBuzzi Unicem’s preliminary results for 2015 show a 6.2 per cent rise in revenues to EUR2662m from a year earlier. Thanks to the strengthening of the dollar, which was partly offset by the devaluation of the Russian ruble and the Ukrainian hryvnia, foreign exchange fluctuations had a favourable impact of EUR101m. The group’s net debt fell to EUR1.03bn in 2015 from EUR1.06bn in 2014. It expects from preliminary data that EBITDA will be EUR470m in 2015. Cement volumes for the year rose by... |
Cementir outbids Buzzi to buy Sacci30 December 2015, Published under Cement NewsShares of Italian cement group Buzzi Unicem fell after Cementir outbid its offer for the cement and ready-mix concrete business units of the Italian group Sacci SpA. Sacci has decided to include the EUR125m offer from Cementir Italia in the Sacci creditor protection plan, replacing a previous offer from Buzzi Unicem. Buzzi Unicem’s offer to purchase Sacci SpA had originally been made in March 2015 and had been approved by Italy’s Antitrust Authority in December. |
Anti-trust authority approves Buzzi deal23 December 2015, Published under Cement NewsItaly's Antitrust Authority has approved Buzzi Unicem's offer to purchase the SACCI business unit and informed the Italian cement producer that it will not to open an investigation about the purchase transaction of SACCI SpA (SACCI). Buzzi Unicem is now clear to proceed further with the acquisition. The Buzzi Unicem offer remains under review by SACCI and the bodies of the composition proceedings initiated by SACCI. The outcome of the Buzzi Unicem offer depends on the development of the afo... |
Cementir Board announces forecasts for 2016, new organisational structure11 December 2015, Published under Cement NewsCementir Holding SpA's Board of Directors has approved the forecasts for the year 2016 and a new organisational structure for the group. The Group is expecting to achieve EBITDA of around EUR190m next year, and net financial debt of about EUR180m, with planned industrial investments of around EUR65-70m. The Italian cement producer said these forecasts are based on conservative assumptions, especially for Turkey, where the geopolitical situation is still highly unstable, with possible effe... |
Italy: price fixing probe opened27 November 2015, Published under Cement NewsItaly's antitrust authority has opened a probe into four cement makers for alleged price fixing, it said in a statement on Thursday. The companies under investigation include Buzzi Unicem, Cementir Italia, Industria Cementi Giovanni Rossi and Holcim Italia, the watchdog said. The authority said it had carried out inspections in the offices of the four firms on 25-26 November. "The case concerns the possibility of an agreement ... to coordinate cement sales price increases," it added. ... |