Cement News tagged under: italy

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Italcementi announces change to Board of Directors

05 October 2015, Published under Cement News

Italcementi announced that Elena Zambon is retiring from its Board of Directors for professional reasons. Ms Zambon had been acting as Independent Director and was a member of the Strategic Committee of the Company, having been in charge since 16 April 2010.

Court of Rome declares validity of Buzzi offer for SACCI

02 October 2015, Published under Cement News

Buzzi Unicem has been informed by SACCI SpA (SACCI) that the Court of Rome has declared the admissibility of the composition plan submitted by SACCI on 21 September 2015. The composition plan includes the binding offer made by Buzzi Unicem for the acquisition of the cement and ready-mix concrete business unit of SACCI. The composition plan will be subject to the vote of the creditors in the meeting set by the Court for 18 January 2016. If the vote of the creditors of SACCI is positive, it ...

Bedeschi acquires Mid-West Conveyor Co

25 September 2015, Published under Cement News

Bedeschi SpA of Italy announced the acquisition of Mid-West Conveyor Co, a US-based provider of turnkey bulk material handling systems for the utilities, mining, cement, fertiliser, refinery and marine terminal sectors. Founded in 1947, the newly-named Bedeschi Mid-West Conveyor LLC (BMWC) has operations located in Lenexa, Kansas. From there it designs, manufactures and installs bulk materials handling systems, including pipe conveyors and rotary plows. Commenting on the acquisition, manag...

Buzzi Unicem makes binding bid for SACCI

15 September 2015, Published under Cement News

Buzzi Unicem has made a second offer for fellow Italian producer SACCI to acquire its cement and ready-mix concrete business. In a statement Buzzi said it had offered a provisional price of EUR74m to be financed through liquidity on hand and/or existing credit facilities. A further variable outlay is expected on top of the original commitment which will be worth no less than EUR25m, Buzzi said. This variable outlay is connected to certain future events, most importantly the core earning...

Buzzi Cement see stock market gains of 5%

14 August 2015, Published under Cement News

Buzzi Unicem was the best performer of the FTSE MIB blue-chip index of the Milan Stock Exchange yesterday, trading at more than five per cent higher at EUR16/share, which is the highest price since June 2008. The rise was stimulated by Exane BNP Paribas, which raised the share price target of Buzzi Unicem to EUR21.50, keeping the "outperform" recommendation. The analysts made the recommendation based on the first-half results of the Italian cement manufacturer, which registered a ri...

Honduras: Goldlake invests US$230m in 1.2Mta plant

07 August 2015, Published under Cement News

Italy’s mining company Goldlake will invest US$230m in a new cement plant via its local subsidiary Five Star Mining. The 1.2Mta works in the Agalteca valley will produce sulphate-resistant cement for marine infrastructure projects. The project is currently applying for operating permits following the submission of feasibility and environmental impacts studies. The start of construction is expected this month. Cement from the works will be delivered not only within Honduras, but also sh...

Buzzi Unicem: strong growth in America

05 August 2015, Published under Cement News

Buzzi Unicem's first-half turnover improved by 4.9 per cent to EUR1238.2m and  EBITDA rose by 20.3 per cent to EUR166.6m. The depreciation and impairment charges came down by 22.4 per cent to EUR96.5m as the writing off goodwill in Ukraine was not repeated. The first half trading profit recovered further from EUR14.1m to EUR70.1m, but the interest charge rose by 10.3 per cent to EUR51.8m and the pretax loss of EUR11.1m a year ago was turned into a profit of EUR54.1m. After a tax charge 82...

Cementir advances in Denmark and Sweden

12 May 2015, Published under Cement News

Cementir's first quarter turnover eased by 0.9 per cent to EUR204.7m and the EBITDA came off by 1.6 per cent to EUR24.2m, primarily reflecting difficult market conditions in Turkey and Egypt. At constant exchange rates, the turnover would have been down by 4.1 per cent to EUR198.0m. The trading profit declined by 31.5 per cent to EUR3.1m, but at the pre-tax level there was an improvement to EUR3.8m from a loss of EUR1.8m.  Net debt at the end of March was 10.2 per cent lower than a year...

Buzzi improves in the USA & central Europe

11 May 2015, Published under Cement News

Buzzi Unicem's first-quarter turnover increased by 3.4 per cent to EUR513.39m and the EBITDA went from a EUR10.26m to EUR27.15m. The loss at the trading level was reduced by 48.6 per cent to EUR19.24m. Net financial charges increased by 31.3 per cent to EUR43.01m giving a seasonal pre-tax loss 24.5 per cent lower at EUR46.16m. Net debt at the end of March was 6.6 per cent higher at EUR1133.3m, giving a gearing level of 45.1 per cent compared with 45.5 per cent a year earlier. Cement deli...

Italcementi advances in India and Morocco

08 May 2015, Published under Cement News

Italcementi's first-quarter turnover improved by 5.1 per cent to EUR980.5m while the running EBITDA eased 0.4 per cent to EUR95.2m. The trading loss was increased by 13 per cent to EUR4.7m and net interest charge rose by 2.6 per cent to EUR34m. The pretax loss declined by 23.1 per cent to EUR34m but a higher tax charge led to a 7.5 per cent increase in the net attributable loss to EUR73.4m. Net debt at the end of March was 8.7 per cent higher at EUR2343.9m to give a gearing level of 57.7 ...