Cement News tagged under: Italy
Italy: Monselice cement plant to burn SRF22 September 2016, Published under Cement NewsThe 0.7Mta capacity Monselice cement plant (Cementizillo group), in Padova, Italy, has received so the authorisation to substitute 50 per cent of its petcoke firing with solid secondary refuse-derived fuel (SRF) Last Monday night, at the city council, more than 100 people were present to support the motion presented by the opposition asking to block the procedure to initiate a debate on the faults of the request. However, the process has been approved in committee. |
Italcementi hit by restructuring and impairment charges02 August 2016, Published under Cement NewsItalcementi's first-half turnover declined by 2.1 per cent to EUR2122.6m and running EBITDA was 7.6 per cent lower at EUR300m. Hit by restructuring and impairment charges, the trading profit of EUR113m was turned into a EUR2090.6m trading loss. Net financing costs increased by 3.6 per cent to EUR68.4m, giving a pretax loss of EUR291.1m, compared with EUR57.3m profit a year earlier. At the net attributable level there was a EUR372.8m loss, compared with a EUR32.6m a year earlier. Net debt ... |
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 ... |
The Mediterranean and beyond25 May 2016, Published under Cement NewsThe Mediterranean has always played a vital role in the world economy and international trade. In recent years its bordering countries have been affected by turmoil caused by various factors: the economic crisis, a fall in oil prices, increasing migration and Islamisation, political instability and wars. This uncertainty has affected construction investment and regional cement demand. For Mediterranean cement producers this has meant a need to find new markets and look beyond the usual horiz... |
Italcementi workers presents demands25 April 2016, Published under Cement NewsThe Italian unions Feneal Uil, Filca Cisl and Cgil Fillea representing Italcementi cement workers, have announced a strike in response to the industrial plan proposed by the government, which may result in 415 dismissals this year and further 250 redundancies in 2017. On 14 April, workers at Italcementi declared their intention to strike, arguing that Heidelbergcement, which is in the process of acquiring the Italian cement manufacturer, had failed to address workers’ concerns. HeidelbergCe... |
HeidelbergCement to sell Italcementi's Belgian operations as part of integration plan06 April 2016, Published under Cement NewsHeidelbergCement has laid out its plans for the restructuring of Italcementi's operations following the former's moves to acquire a 45 per cent stake in the Italian firm last July. These include selling off Italcementi’s entire Belgian operations to address competition concerns. In a press release, HeidelbergCement said that the integration process will see the retention of Italcementi’s Italian operations and brand. The company adds that it expects the acquisition to be finalised by July... |
Cementir: hearing with creditors and opening of creditors’ vote for Sacci's composition16 March 2016, Published under Cement NewsCementir Holding has announced that the hearing with creditors for Sacci’s composition, which includes the offer to purchase its business divisions submitted by Cementir Holding’s subsidiary Cementir Italia Spa, was held on 14 March 2016 before the Court of Rome. The offer was formally accepted by the Board of Directors of Sacci Spa during its meeting on 10 March 2016. Sacci’s creditors will be able to express their vote within 20 days of the hearing, in accordance with Article 178, para... |
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 ... |