HeidelbergCement increases Italcementi target
Published by Joseph Green,
Editor
World Cement,
According to a Bloomberg report, after identifying new areas to reduce costs, HeidelbergCement AG has raised its savings forecast from last year’s purchase of Italcementi SpA for the second time in three months.
The target was increased by 33% to €400 million, three months after it was raised by 50% to €300 million.
HeidelbergCement AG agreed to buy Bergamo, Italy-based Italcementi for €3.7 billion in July.
Regulatory approvals have been granted in India, Canada, Morocco and Australia, with talks in Europe and the US ongoing.
Fourth-quarter operating income prior to depreciation rose 11% to €696 million. Revenue rose 2% to €3.4 billion.
The cement maker said the US and U.K. markets are showing signs of continued recovery, while Europe is benefiting from the weak oil price.
Edited from source by Joseph Green. Source: Bloomberg
Read the article online at: https://www.worldcement.com/europe-cis/17022016/heidelbergcement-increases-italcementi-target-520/
You might also like
The World Cement Podcast
In this special joint episode of the World Cement Podcast, and Cementing Europe’s future, the podcast of CEMBUREAU, David Bizley and Koen Coppenholle take a deep dive into the Clean Industrial Deal and a discussion of what it means for the European cement industry.
Listen for free today at www.worldcement.com/podcasts or subscribe and review on your favourite podcast app.
Shaping The Future Through Shredding
Gary Moore, UNTHA Shredding Technology GmbH, highlights the global momentum behind alternative fuels and the role of advanced shredding in shaping cement’s low-carbon future.
