Cement News tagged under: europe
Italcementi suffers from jump in financing costs31 July 2014, Published under Cement NewsItalcementi's first-half turnover declined by six per cent to EUR2048.4m, but the running EBITDA did improve by 2.2 per cent to EUR304.8m. Helped by a 6.2 per cent reduction in the amortisation and depreciation charge, the trading profit improved by 27.7 per cent to EUR99.8m. A 66.5 per cent jump in financing costs, largely related to interest rate derivatives and derivatives on CO2 hedging, led to a net financial charge of EUR75.1m. After contribution from associates and impairment charg... |
Buzzi Unicem and Wietersdorfer deal completed31 July 2014, Published under Cement NewsBuzzi Unicem has completed a strategic agreement with Wietersdorfer initially announced in February this year. Under the terms of the deal, Buzzi Unicem is receiving EUR22m from W&P Cementi for its 0.3Mta cement works at Cadola (Italy) and the right to acquire the 0.4Mta Travesio (Italy) cement plant within the next five years. At the same time, Buzzi Unicem is paying some EUR22m for a 25 per cent stake in Salonit Anhovo, the leading cement producer in Slovenia with a capacity approaching ... |
EC extends deadline for Cemex decision31 July 2014, Published under Cement NewsThe European Commission has extended the deadline for its decision on whether to clear or block the deal from 5 September to 12 September 2014. A source told Reuters earlier this month that the Commission had objected to the deal after a preliminary review showed that it would significantly reduce competition in certain parts of Spain. Cemex had submitted its concessions on Monday, the EU watchdog said on its website, without providing details in line with its policy. It h... |
European Commission objects to Spanish deal14 July 2014, Published under Cement NewsThe European Commission, the antitrust regulator in Europe, has objected to plans by Cemex to acquire Spanish units held by Holcim. In August last year the two cement majors reached an agreement to conduct a series of transactions to swap and combine assets in parts of Europe with the aim of improving synergies and boosting operating profit. However, a source told Reuters last week that: "The European Commission (EC) has sent a statement of objections to the companies," referring ... |
Ciments Calcia opens new distribution centre in Paris14 July 2014, Published under Cement NewsCiments Calcia opened a new distribution centre in the 13th arrondissement of Paris, France, on 4 July 2014, designed by Vib Architecture. The centre consists of two 20m dia silos that rise to a height of 37m. A third cylinder, which has a cut-out design includes a lift and a wrap-round metal staircase. The facility, which was cast in slipform, took three weeks to build. |
Italcementi reaches threshold for squeeze-out of Ciments Français04 July 2014, Published under Cement NewsItalcementi said on Thursday it had bought more than 95 percent of share capital of Ciments Français, reaching the threshold for the squeeze-out of minorities at its French unit. Italcementi’s buyout bid for Ciments Français, which commenced on 13 June, is worth EUR79.50 (USS108.60) a share, ex dividend. The buy-out of minorities in Ciments Fran ç ais is part of the Italian cement major's plan to streamline its group structure and will lead to the delisting of the French unit from the P... |
Companies contest EU ruling04 July 2014, Published under Cement NewsCement companies have appealed to the European Court of Justice seven rulings the EU General Court upholding the European Commission's broad requests for information (RFI) in an antitrust investigation. Following the opening of its investigation, the Commission requested detailed and voluminous information from the investigated cement manufacturers. The companies challenged the requests before the General Court, alleging that the Commission failed adequately to explain the presumed infring... |
EU clears Holcim and Cemex deal in Germany06 June 2014, Published under Cement NewsHolcim has received unconditional clearance by the European Commission for its proposed acquistion of Cemex West in Germany. The decision follows a detailed Phase II review by the European Commission. The acquisition in Germany is part of the strategic portfolio optimisation in Europe that includes a series of transactions together with Cemex and that is separate from the intention to merge with Lafarge. In the Czech Republic, the proposed acquisition of Holcim Cesko by Cemex was clear... |
Cemex opens new Spanish distribution centre04 June 2014, Published under Cement NewsCemex opened a new distribution centre on Tuesday in Rubi, a city located 25km from Barcelona. Cemex Spain CEO, Jaime Ruiz de Haro, and Rubi Mayor, Carme Garcia cut the ribbon during the official inauguration of the new facility. The center will distribute cement and other materials, allowing the company to serve new customers and markets. "We are the top producer of white cement in the world and the No 3 producer of grey cement, and centres like this allow us to get closer (to our c... |
Cemex to open export terminal in Italy to boost Spanish operations03 June 2014, Published under Cement NewsCemex intends to give its Spanish operations a boost through the construction of a cement export terminal in Italy. The facility will also serve as an export base from other European plants, particularly to north Africa. Cemex plans to raise its share of exports from Spain from 35 to 60 per cent to counteract the slowdown in the domestic market. The ongoing downturn in the Spanish market, where demand is around 11Mt, has caused a considerable overcapacity as cement producers currently... |