Cement News tagged under: HeidelbergCement
HeidelbergCement opens new Lithuanian terminal30 July 2012, Published under Cement NewsHeidelbergCement has opened a new cement terminal in Klaipeda, city in Lithuania situated at the mouth of the Dane River where it flows into the Baltic Sea, according to local press reports. The modern LTL10m (approx EUR 2.9m) terminal for logistics, packaging and production of industrial cement will have a supply capacity of 100,000tpa of bulk cement and 50,000tpa of bagged cement. |
Tvornica Cementa Kakanj forecasts 10-14% drop in in revenues, Bosnia27 July 2012, Published under Cement NewsTvornica Cementa Kakanj (TCK), the Bosnian unit of HeidelbergCement expects to post a 10-14% drop in cement sales volume this year as conditions on the local market and the fallout from the eurozone crisis continue to weigh, a senior company official said. Cement sales are seen at around BAM64m (EUR32.7m) in 2012, TCK's general manager for Bosnia and Herzegovina and Croatia, Branimir Muidza, told SeeNews in an emailed interview. "On the backdrop of the existing economic environment, our ... |
HeidelbergCement’s debt reduction focus16 July 2012, Published under Cement NewsHeidelbergCement plans to cut its debt by about 16 per cent to EUR6.5bn to boost its credit rating and share price according to reports in the Frankfurter Allgeemeine Sonntagzietung said, citing an interview with CEO Bernd Scheifele said. Debt reduction is the top priority and the time isn’t right for bold acquisitions, Mr Scheifele said. HeidelbergCement has cut debt by EUR7bn to EUR7.7bn in the four years ending 2011, Scheifele added. The company aims to reach EUR6.5bn of debt, but M... |
Personnel change in the Supervisory Board of HeidelbergCement04 July 2012, Published under Cement NewsProf. Dr. Marion Weissenberger-Eibl has been appointed as a member of HeidelbergCement's Supervisory Board in the capacity of shareholder representative. She succeeds Dr.-Ing. Herbert Lutkestratkotter, who had resigned from his position for personal reasons. Her term of appointment will expire on the occasion of the by-election held at the next Annual General Meeting of HeidelbergCement AG on 8 May 2013. “We are pleased that, in Prof. Dr. Marion Weissenberger-Eibl, we have succeeded in at... |
Defending profitability key for European companies03 July 2012, Published under Cement NewsFitch Ratings says that the ability to defend profitability in emerging countries is the most critical issue for the rating of the European cement companies rated by the agency, Holcim Ltd. ('BBB'/Stable), Lafarge SA ('BB+'/Stable) and HeidelbergCement AG ('BB+'/Stable). In its special report, Fitch compared the current financials of the major European cement companies to the pre-crisis situation to assess if and how geographical diversification helped companies to recover revenue and prese... |
Fitch affirms HeidelbergCement at BB+12 June 2012, Published under Cement NewsFitch Ratings has affirms HeidelbergCement’s Long-term Issuer Default Rating (IDR) at 'BB+' and Short-term IDR at 'B'. The Outlook on the Long-term IDR is Stable. The agency also affirmed the senior unsecured rating of debt issued by HC's related entities, HeidelbergCement Finance BV, Hanson Ltd and Hanson Australia Funding Ltd. at 'BB+'. “The affirmations reflect HeidelbergCement's careful financial policy and the agency's expectation that credit metrics will remain stable or improve ... |
HeidelbergCement06 June 2012, Published under Cement NewsHeidelbergCement's first-quarter turnover advanced by 7.6% to €2799.4m, but the EBITDA declined by 15.5% to €213.7m and the trading profit fell by 77% to a €13.8m. The lower margins chiefly reflect weather conditions in the quarter, but also higher costs for transport and energy. The net interest charge increased by 8.8% to €135.2m and the pre-tax loss increased by 69.8% to €143.9m and the net attributable loss emerged 26.8% higher at €203.8m. Capital investment increased by 4.1% to €159.2m,... |
HeidelbergCement hoards liquidity due to financial crisis04 June 2012, Published under Cement NewsHeidelbergCement AG is hoarding liquidity to create a buffer should the Eurozone crisis deepen, its chief executive told the Wall Street Journal Deutschland in an interview. "At the end of the first quarter, our total liquidity was more than EUR3.7bn," Bernd Scheifele said, adding HeidelbergCement could cover all its debt maturity dates with that amount over the next 24 months. While the sovereign-debt crisis in Greece has had little impact on the cement maker's operations, Scheifele said,... |
Tanzanian Portland cement sees increased demand09 May 2012, Published under Cement NewsTanzania Portland Cement Co (TPCC), a unit of HeidelbergCement, reported a rise in full year 2011 net profit and sees cement demand continuing to rise as it prepares to bring new capacity on-line. TPCC reported net income in the 12 months through to December of TZS50.6bn (US$32m) up from TZS50.2bn. However, higher input costs and issues with electricity supplies hampered the company’s performance. “Higher imports of clinker and frequent breakdowns of machinery resulting from the erratic ... |
Indocement to invest US$109m on expansion09 May 2012, Published under Cement NewsPT Indocement Tunggal Prakarsa, part of the HeidelbergCement group, is to spend more than IDR1trn (US$109m) this year on expansion, according to reports in the Jakarta Post. Following the company’s annual and extraordinary shareholders meeting on Tuesday, director Kuky Permana, said that one of the company’s main projects would be the construction of a new 4.4Mta plant in Citereup, Bogor, West Java. Indocement would also construct cement mills with a total capacity of 1.9Mt, he said. I... |