Cement News tagged under: Germany
KHD recommends shareholders accept AVIC offer06 December 2013, Published under Cement NewsThe management and supervisory board of KHD Humboldt Wedag International have recommended company shareholders accept a takeover bid from AVIC International at the offer price of EUR6.45/share. The offer price corresponds to a premium of 34.9 per cent on the average closing price of the KHD share over the three-month period prior to announcement of the offer on October 10, 2013. KMPG, who was engaged by KHD’s management board, as well as Network Corporate Finance, a consulting company com... |
HeidelbergCement issues Eurobond04 December 2013, Published under Cement NewsHeidelbergCement yesterday priced a Eurobond issue under its EUR10bn EMTN programme with an issuance volume of EUR500m and a maturity date of 21 October 2021. The proceeds of the transaction will be used for general corporate purposes, the German cement major said in a statement. The eight year bond bears a fixed coupon of 3.25 per cent per annum. The issue price is at 99.337 per cent, resulting in a yield to maturity of 3.375 per cent. Joint lead managers of the transaction are Danske Ba... |
AVIC confirms bid for KHD02 December 2013, Published under Cement NewsAVIC International Engineering has published the offer document for the voluntary public takeover offer to the shareholders of KHD to acquire all shares in KHD. According to a release, the joint bidders offer a cash consideration of EUR6.45 per KHD share. The offer price includes a premium of approximately 35 per cent on the weighted average domestic stock exchange price for KHD shares in the three-month period prior to the publication of the decision to launch the takeover offer on 11 Octo... |
Dr Reinhold Festge elected president of the VDMA21 November 2013, Published under Cement NewsDr Reinhold Festge is elected VDMA president Dr Reinhold Festge, managing partner of Haver & Boecker in Oelde, Germany, has been elected as president of the German Engineering Federation (VDMA) following a members' gathering in Stuttgart on 18 October 2013. He succeeds Dr Thomas Lindner of the Groz-Beckert KG in Albstadt, who has served asVDMA president since 2010. Reinhold Festge was born in Oelde on 10 November 1945. After completing his medical school studies he majored in... |
HeidelbergCement issues a Eurobond22 October 2013, Published under Cement NewsHeidelbergCement yesterday priced a Eurobond issue under its €10bn EMTN programme with an issuance volume of EUR300m and a maturity date of 21 October 2020. The proceeds of the transaction will be used for general corporate purposes. “The new Eurobond is a great success,” says CEO, Dr Bernd Scheifele. “With the seven year bond, HeidelbergCement could raise capital at more favourable terms for a longer maturity compared to one year ago. This is a clear proof of the improved credit quality of... |
AVIC raises stake in KHD, buy-out offer14 October 2013, Published under Cement NewsChina-based AVIC International Holdings Ltd said it will boost its holding in KHD Humboldt Wedag International AG and make a buy-out offer. The Shenzhen-based company will buy 19 per cent of KHD from 12 sellers for EUR61m (US$83m), increasing its stake to 39.03 per cent, according to a Hong Kong stock exchange filing yesterday. MFC Industrial Ltd. is one of the companies disposing of KHD shares. In 2010, KHD launched a strategic partnership with CATIC Beijing Co. Ltd, a subsidiary o... |
S&P confirms Buzzi, Dyckerhoff rating; negative outlook09 October 2013, Published under Cement NewsBuzzi Unicem said today that Standard & Poor’s confirmed the long-term corporate rating (BB+) on Buzzi Unicem and its German subsidiary Dyckerhoff AG and the short-term rating (B) on both groups, thus removing them from the credit watch with negative implications announced on 8 August 2013. The outlook was revised from stable to negative. |
Heidelberg updates on sustainability efforts18 September 2013, Published under Cement NewsHeidelbergCement has released its 2011/2012 Sustainability Report, highlighting topics and challenges for the German cement major in its drive for sustainable development. The new report, entitled "Foundations" also details the company's continous efforts and achievements such as reducing specific net CO2 emissions by 21 per cent and increasing its alternative fuels rate to 21.7 per cent. Sustainable business practices form an integral of the business activities “Sustainable business pr... |
Refratechnik Group acquires Burton GmbH, Germany17 September 2013, Published under Cement NewsThe Refratechnik Group, a leading manufacturer of ceramic refractory products has acquired the facilities of Burton GmbH & Co. KG in Melle, near Osnabrück, Germany. As a result of this strategic takeover, Refratechnik Ceramics will become a market leader and global supplier of refractory products for industrial furnaces in the ceramics industry. The product ranges in this field encompass wall, roof and car systems as well as furniture for tunnel kilns, in which products such as refractory... |
GMK and IKN sign waste heat recovery partnership, Germany16 September 2013, Published under Cement NewsGermany-based companies GMK GmbH and IKN GmbH have entered into an exclusive partnership to develop and market waste heat recovery systems for the cement industry. On 16 September 2013, a memorandum of understanding was signed by Piacentini-Timm (GMK), Wilhelm Uebachs (GERMANIA Technologieholding), Klaas Windmöller and Justus von Wedel (both IKN). GMK, a specialist for power generating equipment based on the Organic-Rankine-Cycle (ORC), has developed the INDUCAL® line of products for indu... |