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, 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.
HeidelbergCement AG, the world’s third largest maker of cement, reported first-quarter profit that beat estimates as a mild European winter as well as a rebound in the region’s economy boosted cement sales.
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.
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.
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.