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
World Cement Podcast
Tune into Episode 2 of the World Cement podcast to hear the second half of the CCUS-focused panel discussion from EnviroTech 2024.
Cemex expands its Urbanisation Solutions business in the UK
Cemex is advancing its growth strategy by expanding its Urbanisation Solutions business in the UK with a new lower-carbon mortar plant near London.
