Cement News tagged under: Cementir
HeidelbergCement completes Belgian assets' sale to Aalborg Portland Holding26 October 2016, Published under Cement NewsHeidelbergCement has completed the sale of operations in Belgium, primarily consisting of Italcementi’s Belgian subsidiary Compagnie des Ciments Belges SA (CCB) to Aalborg Portland Holding SA (Cementir Group). "With the disposal of the Belgium assets we fulfill the obligation of the European Commission and improve the net financial position of HeidelbergCement after the acquisition of Italcementi," said Dr Bernd Scheifele, CEO of HeidelbergCement. HeidelbergCement and Cementir Holding ... |
Visible cracks10 October 2016, Published under Cement NewsOver the last 18 months CDP has analysed sectors ranging from electric utilities and automotive manufacturing to extractives and has benchmarked how leading players manage climate risks and opportunities. In June it was the turn of the cement sector, as CDP published ‘Visible Cracks’, its first report for investors on the global cement industry. This publication revealed how differently companies in the sector are preparing for the transition to a low-carbon economy. By Tarek Soliman and Cha... |
Cementir appoints Paolo Bossi CEO of Italian unit, Sacci and Betontir21 September 2016, Published under Cement NewsItalian cement producer Cementir has appointed Paolo Bossi as CEO of Cementir Italia, Cementir Sacci and Betontir. The arrival of Paolo Bossi, following the acquisition of the cement and concrete business of Sacci, currently Cementir starts the rationalisation process of the Cementir group in Italy, a company statement read. The new CEO's first challenges include returning the companies to profit while maintaining and improving product and service quality. |
Cementir expands into Belgium29 July 2016, Published under Cement NewsCementir's turnover improved by 1.1 per cent to EUR481m in first half of the year, as the improvements in Denmark, Norway and Sweden as well as Malaysia made up for lower results from Italy, Egypt and China, while Turkey was broadly stable. EBITDA, however, declined 1.5 per cent to EUR72.04m. After a 4.7 per cent reduction in depreciation and similar charges to EUR40.2m, the trading profit improved 2.8 per cent to EUR31.8m. The net financial item swung from a positive EUR5.3m to a negati... |
Cementir to acquire HeidelbergCement’s Belgian operations25 July 2016, Published under Cement NewsCementir has announced that it is to acquire HeidelbergCement’s Belgian assets for an enterprise value of EUR312m (US$342m). The deal primarily consists of Compagnie des Ciments Belges SA and is subject to the European Commission giving its approval. HeidelbergCement has been obliged to sell its Belgian operations as part of the process of acquiring Italcementi. In 2015 the assets generated pro forma sales of EUR180m (US$197m) on sales of 1.8Mt of cement, 4.8Mt of aggregates and 0.8Mm 3 ... |
Italy: Cementir receives court approval for Sacci Spa purchase09 June 2016, Published under Cement NewsThe Court of Rome has published the decree of approval of the composition with creditors of Sacci Spa, which includes the offer to purchase its business divisions submitted by the subsidiary Cementir Italia Spa. The Court verified the regularity of the procedure and the outcome of the creditors’ vote and approved the arrangement with a motivated decree. The closing of the transaction, subject to the satisfaction of all conditions to which it is subject, is expected by the end of July 2... |
Italy: Consolidation needed as consumption forecast to remain depressed27 May 2016, Published under Cement NewsWith the European Commission having this week given the go-ahead to HeidelbergCement’s acquisition of Italcementi, Italy’s largest cement producer is set to become even less dependent upon what was until now its home market. Since 2007 Italcementi's domestic market has contracted from a peak consumption of 46.4Mt nine years ago to 19.6Mt in 2015, with demand predicted to be flat in 2016. The Italian cement producers’ association, AITEC, predicts that consumption will remain below 23Mt until ... |
Cementir's 1Q16 revenue falls 1.1% to EUR218.9m12 May 2016, Published under Cement NewsCementir has announced that its results for the 1Q16, despite being lower than the previous year, are in line with management expectations and show a strong performance of operations in the Scandinavian countries, Malaysia and Egypt, which more than offset the lower earnings in Turkey and the difficulties encountered in Italy and China. The performance for the quarter was adversely impacted by the seasonal effect of the earlier Easter holidays with respect to the previous year, says Cementir... |
Cementir reduces debt but also net profit11 March 2016, Published under Cement NewsCementir Holding's turnover in 2015 recovered by 2.2 per cent to EUR969.0m, but EBITDA emerged just 0.8 per cent ahead at EUR194m. The trading profit, however, declined by 6.3 per cent to EUR97.61m while the net interest line went from a negative EUR4.6m to a positive EUR4.0m and the pretax profit improved by 2.2 per cent to EUR101.6m. Higher tax and minorities charges gave a net attributable profit 5.8 per cent lower at EUR67.5m. Net debt at the end of 2015 was 20.2 per cent lower at EUR... |
Cementir given antitrust approval for Sacci deal08 March 2016, Published under Cement NewsThe Italian Antitrust Authority has approved Cementir’s offer to purchase Sacci Spa's cement and ready-mix concrete business divisions. In a statement released yesterday, Cementir Holding said the Italian watchdog had published its decision not to carry out an investigation into the transaction, thus authorising subsidiary Cementir Italia to proceed with the acquisition. Sacci’s composition with creditors will be submitted to the vote of its creditors at a hearing set by the Court for ... |