UBS cuts Buzzi Unicem’s EBIDTA estimates on weak European markets
UBS has cut Buzzi’s 2012 EBITDA projections by three per cent and now expects it to remain flat for the year at EUR424m as lower European demand weighs on the Italian cement maj...
Italy
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Citigroup lowers Italcementi price target, Italy
Citigroup has lowered its price target on Italcementi to EUR3.60 from EUR4.10, after cutting by 15% the pre-tax profit estimates for the Italian cement producer in 2012 and 2013.
Cementir entering Britain
The Italian cement and aggregates group Cementir is entering the British market – not in cement or aggregates, but in waste management through its Turkish subsidiary Recydia. In...
UBS initiates Italcementi with ‘Sell’
UBS has initiated Italcementi at sell with a target of EUR3.40, reports from Dow Jones show. UBS cites a negative view of the cement maker's core Italian market, underwhelming c...
European construction outlook revised
The increasing perception that Greece will default and exit the eurozone together with rising fears of contagion has led Euroconstruct, a group of research institutes and consul...
Eurozone April construction output falls
Construction output in the 17 nations that use the euro dropped 2.7 per cent in April compared to the month before, and five per cent from April 2011, the European Union's offic...
UBS launches coverage on Italcementi and Buzzi Unicem
UBS started covering Italy's two largest cement producers, Italcementi and Buzzi Unicem, as they struggle against a backdrop of a construction recession and declining cement dem...
S&P lowers Italcementi credit rating, Italy
Standard and Poor's lowered the long-term corporate credit rating on Italian cement maker Italcementi to BB+ from BBB-, and its short term rating to B from A-3. The agency set a...
Italcementi opens i.lab Research Centre, Italy
Italcementi’s new Research and Innovation Centre designed by the US Architect Richard Meier, was inaugurated today in the presence of the Italian Minister for the Environment Co...
Buzzi Unicem boosted by strong Dyckerhoff advance
On a turnover that advanced by 5.2% to €2787.4m, Buzzi Unicem’s underlying EBITDA improved by 6.0% to €422.3m. With the non-recurrence of the exceptional charges seen in 2010, t...