Cement News tagged under: italy

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Buzzi Unicem completes buy-out of Dyckerhoff shares

28 August 2013, Published under Cement News

Buzzi Unicem said on Tuesday that the squeeze-out of all outstanding ordinary and preferred shares in German-based Dyckerhoff AG still held by minority shareholders was recorded in the Commercial Register in Germany. As a result, as of 27 August 2013, the Italian cement major holds 100 per cent of Dyckerhoff. The payment to the minority shareholders of the cash compensation equal to EUR47.16 per share for a total EUR65.3m is expected to be carried out on 30 August 2013. The stock excha...

Italy: plant closure opposed

21 August 2013, Published under Cement News

The mayors of the Pescara mining basin have voiced their opposition to the closure of Italcementi's Scafa plant and have asked the company to review its plans. They are also ready to assert their own reasons, to broaden the discussion at the national level. "Italcementi must comply with the national agreements signed in December last year, accepted by the social partners, in contrast to what the layoffs today, which was intended for restructuring and has become accusation of activities," ...

S&P puts Buzzi Unicem, Dyckerhoff ratings on credit watch

09 August 2013, Published under Cement News

Standard & Poor's has placed Buzzi Unicem’s rating on credit watch with negative implications, the Italian cement major announced in a statement. Buzzi Unicem's corporate rating is currently at BB+/Stable/B. The rating for Dyckerhoff AG, Buzzi Unicem’s wholly-owned subsidiary, has also been placed on credit watch. S&P said the decision was due to first-half results which were lower than expected in some key market, particularly Italy, Mexico and Eastern Europe. For the first half ...

Buzzi Unicem hit by weaker markets

05 August 2013, Published under Cement News

Buzzi Unicem's first-half turnover declined by 5.7 per cent to EUR1273.7m and the EBITDA fell by 24.8 per cent to EUR150.7m as the Italian cement major was hit by weaker markets in Italy, Poland and Mexico. Excluding non-recurring items, the reduction would have been 21 per cent. The first half trading profit fell by 56.8 per cent to EUR37.8m and the interest charge was reduced by 31.9 per cent to EUR47.6m, with the pre-tax result swinging from a EUR22.6m profit to a loss of EUR8.3m. Afte...

Italcementi's underlying EBITDA fairly stable

31 July 2013, Published under Cement News

Italcementi's first-half turnover declined by 6.2 per cent to €2156.6m and the running EBITDA was down by 10.6 per cent to €298.6m, with the reduction primarily reflecting exchange rate movements and lower income from the sale of emission certificates.  The trading profit dropped by 27.1 per cent to €77.4m, and after an 0.9 increase in the net interest charge to €51.8m and a swing into loss from associates, the pre-tax dropped by 61.2 per cent to €21.6m. With a 2.8 per cent increase in the...

Dyckerhoff shareholders approve Buzzi offer

16 July 2013, Published under Cement News

The shareholders' meeting of Dyckerhoff AG gave the go-ahead to the squeeze-out launched by parent company Buzzi Unicem SpA on all outstanding ordinary and preferred Dyckerhoff shares still in the hands of minority shareholders. Buzzi Unicem's acquisition of the remaining stock of Dyckerhoff and the following cash payment of EUR47.16 per share ( for a total amount of EUR65.3m) will become effective with the recording of such shareholders' resolution in the Commercial Register in Germany, ...

Buzzi Unicem launches bonds, Italy

09 July 2013, Published under Cement News

Italy’s second-largest cement producer Buzzi Unicem launched on Tuesday the placement of equity-linked bonds worth EUR200m maturing in July 2019. The bonds may be converted into ordinary shares of the company, subject to approval of an extraordinary general meeting, according to a statement by Buzzi. They will be issued at par and be offered with a yearly coupon between 1.275 per cent and 2.125 per cent, payable semi-annually, it added.

Colacem looks to expand international presence

17 June 2013, Published under Cement News

Colacem, Italy’s third-largest producer, has said it is looking to expand its presence abroad to help offset declines in domestic cement consumption. Director General Giuseppe Colaiacova told reporters at a press conference that the company wants to increase its business outside Italy more due to the market situation at home. The group has expanded internationally and has plants in Tunisia, Albania, the Dominican Republic and Canada and terminals in Spain and Jamaica. Mr Colaiacova sai...

Buzzi Unicem is advancing in Russia and in the USA

13 May 2013, Published under Cement News

Buzzi Unicem's first-quarter turnover declined by 10.5 per cent to €503.14m and the EBITDA dropped by 51 per cent to €11.75m but advances were seen in Russia and the USA. The loss at the trading level was 29.7 per cent higher at €42.03m. Net financial charges declined by 7.3 per cent to €25.83m to give a seasonal pre-tax loss 7.1 per cent higher at €68.82m. Net debt at the end of March was 9.1 per cent higher at €1227m, giving a gearing level of 50.4 per cent compared with 47.1 per cent a...

Cementir hit by hard Nordic winter

13 May 2013, Published under Cement News

Cementir's first-quarter turnover eased by 0.3 per cent to €194.7m and the EBITDA declined by 26.9 per cent to €9.2m as the cement major was hit by a hard Nordic winter weather. The trading loss increased by 56.1 per cent to €12.4m, but at the pre-tax level the increase in the loss was a more modest 20.3 per cent up to €13.7m. The severe winter weather in Scandinavia and Italy had a particularly negative effect in the month of March. As a result, Scandinavian cement shipments were down b...