Cement News tagged under: heidelbergcement
Italcementi sells its own shares to HeidelbergCement for EUR40.9m19 September 2016, Published under Cement NewsItalcementi tendered on 19 September 3,861,604 company shares, corresponding to all of its own shares held, for a total of EUR40.9m during the mandatory takeover bid launched by German HeidelbergCement on the shares it did not own in the Italian group. Italcementi shares were bought by HeidelbergCement France at a price of EUR10.6 per share, as provided in the tender documents on Italcementi shares, a joint statement of Italcementi and HeidelbergCement Group said. |
USA: Martinsburg plant sale to reduce HeidelbergCement's debt funding12 September 2016, Published under Cement NewsThe gap to repay a EUR2.7bn bridge facility that supports HeidelbergCement's purchase of Italcementi is set to close, once the HeidelbergCement cashes in the sale of its Martinsburg cement plant. On 8 September HeidelbergCement sealed an agreement to sell Essroc's plant in West Virginia to Colombian cement producer Cementos Argos for EUR580m. This follows HeidelbergCement's acquisition of Italmobiliare in July for EUR6bn. Talking on the sale of Martinsburg, analysts from Moody said:... |
New MD for Twiga Cement05 September 2016, Published under Cement NewsTanzania Portland Cement Company, or Twiga Cement, has appointed a new managing director following the departure of the company’s previous MD decision to take on a new role in parent company, HeidelbergCement Group. Alfonso Rodriguez was replaced by Alfonso Velez Martinez on 23 August, according to a company statement. Mr Martinez is said to have 20 years of experience in the cement industry. Mr Rodriguez is set to take on the role of General Manager for Central and South-East Africa Oper... |
HeidelbergCement02 September 2016, Published under Cement NewsTo eliminate monopoly issues in the USA caused by the acquisition of Italcementi, HeidelbergCement has agreed to sell the cement works at Martinsburg, West Virginia, and eight cement terminals to Cementos Argos for US$600m. This transaction is expected to be completed during the final quarter of this year. HeidelbergCement has agreed to sell its aggregates operations in the Gothenburg region to Swerock, a subsidiary of the Swedish contracting group Peab, for around EUR11.6m, with the deal... |
Nabil Francis new Managing Director of Ciments du Maroc02 September 2016, Published under Cement NewsThe Board of Directors of Ciments du Maroc has appointed Nabil Frances as new Managing Director, replacing Mario Bracci as of 1 September. Mr Francis was first employed by Italcementi Group in 1998 and has filled several positions of responsibility in France, Sri Lanka, Egypt and Bulgaria. Since 2013 he headed up the Zuari Cement Ltd subsidiary in India. |
Sweden: Swerock to acquire HeidelbergCement operations in Western Götaland31 August 2016, Published under Cement NewsSwerock AB has signed a deal with HeidelbergCement Northern Europe to acquire the latter’s gravel and rock operations. The two companies have signed a letter of intent and are expected to reach a more comprehensive agreement on 1 September 2016. The HeidelbergCement assets affected by this deal generated revenues of SEK110m (US$13m) in 2015. |
HeidelbergCement to sell US assets to Cementos Argos in US$660m deal18 August 2016, Published under Cement NewsHeidelbergCement has agreed to sell its plant in Martinsburg (WV), USA, and eight terminals to Cementos Argos for US$660m. The deal is subject to regulatory approval, but the Federal Trade Commission had ordered the disposal as a result of the Italcementi acquisition. HeidelbergCement said that it expected the transaction to be completed in the fourth quarter of 2016. The deal involves the disposal of the company's Lehigh and Essroc subsidiaries. Dr Bernd Scheifele, chairman of the Man... |
US: HeidelbergCement moves closer to acquiring Essroc17 August 2016, Published under Cement NewsHeidelbergCement AG and its Italian rival Italcementi SpA, the owner of Nazaerth-area Essroc operations have agreed to divest certain assets to settle the Federal Trade Commission's charge that the proposed US$4.2bn merger would likely harm US competition. The deal is not expected to affect area cement-making operations, officials from both companies said to The Morning Call on Tuesday. HeidelbergCement owns Lehigh Hanson Inc, which is based in Irving, Texas, while Italcementi owns Essroc ... |
HeidelbergCement02 August 2016, Published under Cement NewsHeidelbergCement's first-half results show a one per cent reduction in turnover to EUR6407.0m but EBITDA improved by 5.8 per cent to EUR1112.1m, while the trading profit advanced by 9.9 per cent to EUR728.3m. The net interest charge declined by 22.5 per cent to EUR221m and the pretax profit rose by 24.9 per cent to EUR507.3m. The net attributable profit improved by 66 per cent to EUR246.3m. Net debt at the end of June was 7.4 per cent lower than a year earlier at EUR5855m, giving a geari... |
Ghana: ban on imports01 August 2016, Published under Cement NewsWith concerns registered by trade groups in the country, the importation of cement to Ghana will be banned following a change to the Import and Export Regulations Bill. The new Bill will outlaw bagging and importation of cement to Ghana starting from 5 August 2016. Due to Ghana’s cooperation with the ECOWAS trade agreements, this new regulation will exempt imports from ECOWAS-member countries. Those looking to import cement from non-ECOWAS-member countries will have to apply for renewable... |