Wed, Nov. 23, 11:05 AM
Thu, Nov. 10, 10:45 AM
- Freeport McMoRan (FCX +6.1%) extends this week's breakout momentum to challenge 18-month highs along the $14 level as copper prices continue to soar.
- High-grade copper futures for December have soared 4% so far today, the most in more than a year, extending gains as investors prepare for a possible boom in infrastructure projects under a Trump presidency.
- Along with improvement in economic data from China, a major buyer of industrial metals, “Trump’s pledge to spend, combined with a surge in speculative demand on exchanges from New York to London and Shanghai, have all helped drive copper up to a 16-months high,” says Ole Hansen, head of commodity strategy at Saxo Bank.
- Along for the ride are copper producers Antofagasta (OTC:ANFGF +11.3%), Glencore (OTCPK:GLCNF +5.7%) and BHP Billiton (BHP +8.2%), as well as companies that may benefit from bulked-up spending on U.S. infrastructure projects, such as Dublin-based CRH (CRH +1%), which has surged 11% in two days as the U.S. market makes up 51% of its revenue.
- ETFs: JJC, CPER, CUPM
Fri, Oct. 7, 5:36 PM
Fri, Sep. 16, 5:46 PM
Wed, Sep. 7, 11:22 AM
Thu, Aug. 25, 8:58 AM
Tue, Aug. 16, 5:36 PM
Mon, Jun. 27, 9:13 AM
Aug. 27, 2015, 9:06 AM
- Ireland's CRH agrees to acquire U.S. glazing products manufacturer CR Laurence for $1.3B.
- Already the leading producer of asphalt and No. 3 supplier of construction aggregates in the U.S., CEO Albert Manifold says the deal "makes us by a country mile the number one in this sector."
- CRH expects the acquisition to generate $115M in EBITDA from sales of ~$570M in 2015, boosting its own U.S. glass business.
- Manifold says the company now will take a breather from large-scale acquisitions after also recently completing a €6.5B ($7.35B) acquisition of assets that Holcim and Lafarge had to sell to win regulatory approval for the newly merged LafargeHolcim, the world's biggest cement maker.
- CRH also reports its H1 net profit rose to €46M ($52.2M) from €45M a year ago, slightly above analyst estimates, while revenues rose 13% to €9.37B from €8.32B, matching expectations.
Jul. 17, 2015, 8:13 AM
- LafargeHolcim (OTCPK:HCMLF) has paid £992M to buy out a 50% stake in Lafarge Tarmac held by Anglo American (OTCPK:AAUKF, OTCPK:AAUKY) so it can sell the U.K. building materials company to CRH to meet regulatory requirements.
- "This step is required to allow for the full divestment of Lafarge Tarmac...to CRH as part of the divestment of several assets in Europe, Canada, Brazil and the Philippines," the company said in a statement.
May 27, 2015, 9:29 AM
- Holcim (OTCPK:HCMLY) and Lafarge (OTCPK:LFRGY) have finalized the make-up of the future 10-member executive committee of the combined LafargeHolcim.
- The two also reached a binding agreement under which Irish cement maker CRH will buy some of their assets for €6.5B ($7.1B). The deal was a regulatory condition required for the merger.
Feb. 26, 2015, 6:12 PM
- CRH (NYSE:CRH): FQ4 EPS of €0.79
- Revenue of €18.9B (+5.0% Y/Y).
Feb. 2, 2015, 6:46 AM
- CRH (NYSE:CRH) is not planning to keep control of all the assets it has agreed to buy from Holcim (OTCPK:HCMLY) and Lafarge (OTCPK:LFRGY).
- The Irish building supplies company is now in talks with private equity firm KKR (NYSE:KKR) to partner on some.
- CRH +5.8% premarket
- Previously: CRH to buy Lafarge, Holcim assets (Feb. 02 2015)
Feb. 2, 2015, 3:10 AM
- Holcim (OTCPK:HCMLY) and Lafarge (OTCPK:LFRGY) have moved a step closer toward obtaining regulatory approval for their merger after the two confirmed plans to sell assets to Irish building supplies group CRH (NYSE:CRH) for $7.34B.
- CRH was a finalist in an auction for the assets, battling in the past few days with a consortium led by Blackstone (NYSE:BX).
- The new company created from Lafarge and Holcim's merger will become the world's biggest cement maker with $44B in annual sales.
- Previously: CRH, Blackstone said to consider purchasing Lafarge-Holcim assets (Jan. 22 2015)
Jan. 22, 2015, 11:13 AM
- Trading in CRH (CRH +2.9%) is halted after Reuters reports that the Irish building materials company and a consortium led by Blackstone (NYSE:BX) will battle for the assets which Lafarge (OTC:LFGEF) and Holcim (OTCPK:HCMLF) must sell ahead of their planned merger, Reuters reports.
- A source reportedly considers CRH the front runner after placing the highest offer for the assets with a €6B bid ($6.9B).
- France's Lafarge and Swiss peer Holcim announced merger plans last year that would create the world's biggest cement maker with $44B in annual sales.
Dec. 15, 2014, 10:48 AM
- Irish building materials company CRH (CRH -0.9%) agrees to sell its clay and concrete products business in the U.K. and its U.S.-based clay business to Bain Capital for €522M ($651M).
- CRH is selling peripheral businesses as it accumulates funds for acquisitions of as much as 1.5B euros ($1.9B), and has previously signaled it may consider buying some cement assets being sold by Lafarge and Holcim, which are trying to complete a $40B merger.