Cement News tagged under: Holcim
Holcim strong start in Europe28 April 2014, Published under Cement NewsHolcim's first quarter turnover declined by 5.4 per cent to CHF4088m (EUR3342m), but on a like-for-lake basis, there was a 7.8 per cent increase and measured in euros the turnover, was off by five per cent. The operating EBITDA declined by 5.1 per cent to CHF617m (EUR504m), which represents an underlying increase of 10.1 per cent. The trading profit increased by 9.3 per cent to CHF295m (EUR241m), while the net attributable profit dropped by 57.5 per cent to CHF80m (EUR65m), as last year'... |
Holcim's results boosted by mild winter in Europe28 April 2014, Published under Cement NewsHolcim's first quarter turnover declined by 5.4 per cent to CHF4,088m (€3,342m), but on a like-for-like basis, there was a 7.8 per cent increase while measured in euros the turnover was off by five per cent. The operating EBITDA declined by 5.1 per cent to CHF617m (€504m), but this represents an underlying increase of 10.1 per cent. The trading profit increased by 9.3 per cent to CHF295m (€241m), while the net attributable profit dropped by 57.5 per cent to CHF80m (€65m), as last year's ... |
ACC and Ambuja post diverging results, India25 April 2014, Published under Cement NewsHolcim’s two Indian interests have posted contrasting results for the first quarter of 2014, with ACC’s profit down nine per cent while Ambuja Cement’s net climbs 6.6 per cent. Ambuja Cements reported a net profit of INR5.20bn (US$85.2m) for the first quarter ended March 31, compared with INR4.88bn a year earlier. Sales volume increased two per cent to 6.06Mt. Ambuja's net profit was helped after other income rose by 53.2 per cent to INR1.32bn from a year earlier, according to a company... |
EC to investigate Cemex and Holcim Spanish deal24 April 2014, Published under Cement NewsThe European Commission said on Wednesday it is investigating plans by Cemex and Holcim over a Spanish deal because of competition issues. "The Commission has concerns that the transaction may reduce competition in certain areas of Spain where the two companies' activities overlap," the EU executive said in a statement. Removing Holcim from the Spanish market “could facilitate coordination” between cement makers, the statement added. Collusion on pricing and customer allocation “could b... |
LafargeHolcim will create Indian market leader21 April 2014, Published under Cement NewsThe merger of Lafarge and Holcim will create the largest producer in India, overtaking the current leader, UltraTech Cement, according to a report in The Economic Times of India. Currently, Holcim controls ACC and Ambuja Cements, while Lafarge operates around 8Mta capacity, concentrated in the east of the country. After the merger, the combined Lafarge Holcim entity plus UltraTech would represent 40 per cent of total domestic production capacity, which will prompt the Competition Commissio... |
CEO Dr Scheifele: LH merger no threat to HeidelbergCement17 April 2014, Published under Cement NewsThe announced mega-merger of Lafarge and Holcim is expected to change the competitive landscape in the cement industry as a new global building materials giant, LafargeHolcim, is created. Where does this leave other cement majors such as HeidelbergCement? Dr Bernd Scheifele, CEO of HeidelbergCement, does not view the merger and the benefits of a much larger global footprint as a threat to his company. In a recent interview with Phil Roseberg, Senior Analyst at BernsteinResearch, Dr Scheif... |
Fitch affirms Holcim long-term rating14 April 2014, Published under Cement NewsFollowing the announcement by Holcim to merge with Lafarge SA, Fitch Ratings has affirmed the Swiss major's Long-term Issuer Default Ratings (IDR) at 'BBB'. The Outlook is Stable. The affirmation reflects the combined group's improved scale, diversification and market positions on completion of their announced merger and the synergy potentials between the two companies. “We forecast funds from operations (FFO) adjusted leverage in excess of 3.5x for the combined group in 2015, compared ... |
Argos acquires French Guiana assets10 April 2014, Published under Cement NewsColombia's largest cement maker, Argos, said on Wednesday it will pay EUR50m to acquire Ciments Guyanias, owned equally by Lafarge and Holcim, just two days after the European majors announced a merger. The purchase includes a 200,000tpa clinker grinding plant and a port, both located in Degrad des Cannes, close to the capital Cayenne. Argos said the move forms part of the company’s objective to consolidate it operational and logistical cement network. The deal is also in keeping with Arg... |
Deutsche Bank upgrades Holcim to buy09 April 2014, Published under Cement NewsDeutsche Bank upgrades Holcim to buy from hold and lifts its target price to CHF90 (EUR74) from CHF70 (EUR57) as the upside potential in the building sector should boost cement demand. This "when combined with a transformational deal with Lafarge, which brings global leadership status and hopes for greater market discipline, should make the combined entity a key holding for long term shareholders seeking to increase the beta in their portfolio," say Deutsche Bank analysts. |
Moody's places Lafarge's ratings on review for upgrade, changes outlook on Holcim Baa2 rating08 April 2014, Published under Cement NewsMoody's has put Lafarge's Ba1 rating on review for a possible upgrade following the announced merger proposal with Swiss peer Holcim. At the same time, the credit rating's agency has changed its view on Holcim's Baa2 rating to negative from stable. The ratings actions reflect the fact that Holcim has a stronger balance sheet and credit rating than Lafarge. "The merger of Holcim and Lafarge will create the largest and geographically most diversified cement producer worldwide," said Moody's ... |