Cement News tagged under: europe

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Cembureau voices concern over EU GHG targets

21 October 2014, Published under Cement News

On 23-24 October the European Council will decide on the 2030 climate and energy framework, including targets for GHG emissions reduction, renewables and energy efficiency. The targets are expected to impose a 43 per cent cut for ETS sectors, placing a significant additional burden on these sectors when compared with non-ETS sectors, which have a 30 per cent reduction target, according to Cembureau, the European cement association. The association further says that the targets “do not...

Cemtech Europe 2014

16 October 2014, Published under Cement News

The stunning city of Istanbul, Turkey, played host to Cemtech Europe 2014 over 29 September - 1 October, attracting an audience of 320 delegates from 35 countries. Supported by the Turkish Cement Manufacturers' Association (TÇMB), the event proved to be a major success with an expert conference programme, extensive networking opportunities, exquisite hospitality and an exclusive tour of Nuh Çimento’s cement works all combining to deliver the ultimate conference experience in the heart of Tur...

Lafarge and Holcim merger 'on track', set to request EU approval

10 October 2014, Published under Cement News

Lafarge and Holcim are about to request approval from the European Commission for their planned merger, Lafarge Chief Executive Bruno Lafont told reporters on Thursday. "We are indeed very close to (EU) notification," Lafont told Reuters on the sidelines of a conference on affordable housing at Lafarge's headquarters in Paris. He added that talks with Brussels had been "constructive" and that the companies were "well on track" to close the deal in the first half of next year. Notifying the ...

Holcim considers next move after court rejects carbon theft lawsuit

06 October 2014, Published under Cement News

Holcim is considering its options after the European Court of Justice (ECJ) dismissed its lawsuit against the European Commission over the theft of 1.6m emissions allowances in 2010. On 18 September, the ECJ said it had rejected Holcim's arguments that the Commission should compensate the firm for around EUR17.6m for damages suffered when the online carbon trading account of its Romanian subsidiary was hacked. In its judgment, the court ruled that Holcim must bear the losses resulting from...

Berenberg upgrades Italcementi

26 September 2014, Published under Cement News

Analysts at Berenberg bank have upgraded its recommendation on Italian cement major Italcement's stock to 'buy' from 'sell' with a target price of EUR6.30. Berenberg said the planned merger between Holcim and Lafarge "remains the dominant theme for the sector". They said Italcementi's asset portfolio favours the company as the cement sector faces significant consolidation.

Spanish watchdog initiates preliminary inspection

25 September 2014, Published under Cement News

The Spanish competition watchdog Comisión Nacional de los Mercados y de la Competencia (CNMC) has carried out inspections at the headquarters of companies that produce cement, concrete and their derivatives. The preliminary inspections were carried out over 16-18 September 2014 for alleged anti-competitive practices. Should suspicions be confirmed, the regulator will open disciplinary proceedings, which could result in fines amounting to 10 per cent of the companies' turnover.

Mannersdorf sale draws interest

26 August 2014, Published under Cement News

The Mannersdorf cement plant in Austria, which has been put up for sale by Lafarge ahead of its proposed merger with Holcim, has drawn interest from three notable parties, the daily WirtschaftsBlatt reports. The three potential investors are Leube, Kirchdorfer group and Mexico's Cemex, with the Mexican cement major standing the biggest chances of success, the paper claims. The Mannersdorf plant in Lower Austria has a capacity of 1.3Mta and is the country's largest cement works. It forms p...

CRH returns to first-half pretax profit

19 August 2014, Published under Cement News

CRH's first half turnover advanced by four per cent to EUR8,324m and the EBITDA improved by 27.2 per cent to EUR505m. The trading profit jumped from EUR41m to EUR171m and after a net interest charge 2.7 per cent higher at EUR150m, the pre-tax result went from a loss of EUR71m to a EUR61m profit. The net attributable result went from a EUR57m loss to a EUR46m profit. Net debt at the end of June was 11.6 per cent lower at EUR3,703m, giving a gearing level of 39.9 per cent, which compares wi...

Italcementi suffers from jump in financing costs

31 July 2014, Published under Cement News

Italcementi'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 completed

31 July 2014, Published under Cement News

Buzzi 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 ...