Cement News tagged under: italy

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Cementir's growth impeded by the strong euro

30 July 2014, Published under Cement News

Cementir's turnover emerged just 0.1 per cent ahead at EUR472.8m in first half of the year, as the improvement in Denmark and Norway was offset by currency weakness and the continuing decline in Italy. EBITDA, however, rose by 26.4 per cent to EUR78.4m and was helped by a 7.8 per cent reduction in depreciation and similar charges. The trading profit was more than doubled and jumped ahead by 112 per cent to EUR37.6m. The net financial charge was jumped from EUR2.8m to EUR7.3m, resulting in...

Italcementi reaches threshold for squeeze-out of Ciments Français

04 July 2014, Published under Cement News

Italcementi 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...

Italcementi Finance signs credit facility, Italy

23 June 2014, Published under Cement News

Italcementi Finance SA, a subsidiary of Italian cement maker Italcementi, has signed with a group of 14 international banks a syndicated revolving credit line for EUR450m with a five-year maturity, replacing a EUR920m credit line maturing in September 2015. The previous loan has not been used, hence there are no impacts on the group's total debt, a statement read. The new credit line envisages financial covenants for Italcementi Finance and Italcementi that are similar to the ones of the p...

Cemex to open export terminal in Italy to boost Spanish operations

03 June 2014, Published under Cement News

Cemex 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...

FLSmidth Ventomatic consolidates its presence in the minerals and chemical industries

28 May 2014, Published under Cement News

FLSmidth Ventomatic SpA (Ventomatic) has strengthened its position in the minerals and chemical industries through the consolidation of partnerships with two Italian companies, Imeco® and Italmeccanica, both with long-standing experience in the packaging of powdery and granulated products. Ventomatic said in a statement that thanks to these two strong business partnerships, it is now in the position to design, manufacture and supply fully proven and efficient bagging solutions specificall...

Italcementi sets Ciments Francais bid price

20 May 2014, Published under Cement News

Italcementi said on Tuesday it had fixed the price in a takeover bid for the shares in its French unit Ciments Francais that it does not yet own at EUR79.5/share. The takeover, part of the company's restructuring of its European business, will be financed via a rights issue for up to EUR500m.

Italian price probe

15 May 2014, Published under Cement News

Italy's antitrust authority has launched an investigation into eight Italian producers and vendors to determine if they have colluded to restrict competition in the Veneto region. SeeNews Italy reported that the watchdog on 13 May notified companies General Beton Triveneta, SuperBeton, Intermodale, Calcestruzzi Mosole, Jesolo Calcestruzzi, Ilsa Pacifici Remo, Calcestruzzi Dolomiti and F.lli Romor that they are being probed over possible efforts to coordinate offers, redistribute suppliers, ...

Cementir advances in Nordic area and Turkey

12 May 2014, Published under Cement News

Cementir showed a 6.1 per cent recovery in first quarter turnver to EUR206.6m and  EBITDA jumped from EUR9.2m to EUR24.6m, reflecting improved profits from the Nordic countries and from Turkey. At constant exchange rates, the turnover would have been ahead by 17.1 per cent. The trading loss recorded in recent first quarters was replaced by a EUR4.9m profit this time, while the pre-tax loss was reduced from EUR13.7m to EUR1.8m. Net debt at the end of March was 9.4 per cent lower at EU...

Italcementi shareholders approve 2013 results

17 April 2014, Published under Cement News

At Italcementi’s annual general meeting in Bergamo yesterday, the shareholders of Italcementi SpA approved the financial statements for 2013. The company closed the year with an operating profit of EUR159.3m (against a loss of EUR140.2m the year before) and revenue of EUR4235.4m. The AGM approved distribution of a dividend of EUR0.06/each ordinary share (EUR0.06 in FY12) and EUR0.06/each savings share (EUR0.06 : 2012), with the total corresponding amount to be withdrawn from the extraordina...

Buzzi Unicem hit by weak Italian market

28 March 2014, Published under Cement News

On a turnover 2.1 per cent lower at EUR2753.1m, Buzzi Unicem's EBITDA improved by 5.7 per cent to EUR481.2m. After writing down the assets in Italy and Ukraine by EUR57.7m and EUR39.9m, respectively, the trading profit (EBIT) showed a 24 per cent reduction to EUR149.8m. After a net interest charge 12.4 per cent lower at EUR110.5m, the pre-tax profit declined by 35.4 per cent to EUR50.3m. Because of a mismatch between where profits and losses were generated and tax payments, at the consoli...