Economy & Market

EU blocks proposed German takeover of Croatian cement maker

Published

8 years ago

April 6, 2017

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European Union regulators have blocked the proposed takeover of Cemex Croatia, a cement maker, by Germany’s HeidelbergCement and Schwenk, saying it would have "significantly reduced competition".

According to the EU’s antitrust chief, Margrethe Vestager, "We had clear evidence that this takeover would have led to price increases in Croatia, which could have adversely affected the construction sector."

Regulators said that both the German companies had failed to agree on concessions that would have eased the EU’s concerns about market domination. The EU estimates that the combined companies would have had 45-50 per cent of the market in Croatia.

Concrete

Shree Cement reports 2025 financial year results

Published

4 days ago

June 17, 2025

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Shree Cement posted revenue of US$2.38 billion for FY2025, marking a 5.5 per cent decline year-on-year. Operating costs rose 2.9 per cent to US$2.17 billion, resulting in an EBITDA of US$528 million—down 12 per cent from the previous year. Net profit fell 50 per cent to US$141 million. The company reported cement sales of 9.84Mt in Q4 FY2025, a 3.3 per cent increase from 9.53Mt in Q4 FY2024, with premium products making up 16 per cent of total sales.

Image source:https://newsmantra.in/

Concrete

Rekha Onteddu to become director at Sagar Cements

Published

4 days ago

June 17, 2025

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Sagar Cements has announced the appointment of Rekha Onteddu as a non-executive independent director, effective 30 June 2025. According to People in Business News, Rekha Onteddu is currently serving in a similar capacity at Andhra Cements, the parent company of Sagar Cements.

Image source:https://sagarcements.in/

Concrete

India’s cement consumption set to rise

Published

4 days ago

June 17, 2025

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According to a Moody’s report, India’s cement consumption is projected to rise by 50 per cent over the next five years, increasing from 445 million metric tons per annum (MMTPA) in FY24 to 670 MMTPA by 2030. This growth is expected to be driven by government infrastructure spending and rising housing demand, with an anticipated annual growth rate of 6-7 per cent. To meet this demand, major cement companies are likely to continue acquiring smaller, less profitable firms.

Image source:https://www.telegraphindia.com/