HeidelbergCement AG, the world’s third-largest cement maker, is looking to sell North American brick operations this year after Chief Executive Officer Bernd Scheifele carried out a strategic review with an eye on costs.
As the European Union steps up its response to Russian president Vladimir Putin’s annexation of Crimea, German companies are urging caution lest sanctions harm their business ties -- and Europe’s shaky economic recovery.
HeidelbergCement AG seeks to reduce its debt by about 16 percent to 6.5 billion euros ($7.96 billion) in an effort to boost its credit rating and share price, the Frankfurter Allgemeine Sonntagszeitung said, citing an interview with Chief Executive Officer Bernd Scheifele.
HeidelbergCement AG , the world’s largest maker of aggregates used to produce concrete and asphalt, said sales rose for the first time in six quarters as a rebound in the global economy revived demand.
Companies with investments in Russia -- such as General Electric Co. and Boeing Co. -- are growing concerned as the U.S. prepares to impose tougher sanctions over the crisis in Crimea that may spur retribution against corporate interests.