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.
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.
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 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, posted fourth-quarter profit that missed analyst estimates as the strengthening euro outweighed the impact of a profit improvement program.
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.