KHD Humboldt Wedag Interational AG (KHD), Cologne, was informed of an award from a Portuguese arbitration court. In this award KHD and its subsidiary Humboldt Wedag, Inc. (HW Inc.), Norcross, Georgia, USA, are jointly ordered to pay damages to a customer in South America.
ZAB Zementanlagenbau GmbH Dessau (ZAB), Dessau, Germany, a subsidiary of KHD Humboldt Wedag International AG (KHD), Cologne, Germany, has signed contracts totaling over € 100 million for equipment and services for a new cement plant with a production capacity of 4,500 tpd clinker.
After updating its annual budget KHD Humboldt Wedag International AG (KHD), Cologne, is adjusting its forecast for the 2015 financial year accordingly.
As informed in the ad hoc announcement dated June 19, 2015, errors in the measurement of individual projects in the 2014 financial year relating to Humboldt Wedag, Inc., the US subsidiary of KHD Humboldt Wedag International AG (KHD), Cologne, have been identified.
Humboldt Wedag India Private Ltd. (HW India), New Delhi, India, und Humboldt Wedag GmbH (HWG), Cologne, Germany, two subsidiaries of KHD Humboldt Wedag International AG (KHD), Cologne, Germany, have signed contracts in an amount between € 55 and 60 million for equipment and services for eight slag grinding units.
In connection with a detailed analysis of projects in the execution phase, errors in the measurement of individual projects in the 2014 financial year have been identified. These errors relate to the US subsidiary of KHD Humboldt Wedag International AG (KHD), Cologne.
Today the Supervisory Board of KHD Humboldt Wedag International AG (KHD), Cologne, appointed Mr. Johan Cnossen (55) as member of the Company’s Management Board, effective May 1, 2015. Mr. Cnossen will serve as Chief Executive Officer (CEO). Currently Johan Cnossen works as Vice President Middle East Operations at Jacobs Inc.
KHD Humboldt Wedag International AG (KHD) has entered into a second € 50 million loan agreement with AVIC International (HK) Group Ltd., Hong Kong, as the borrower.
The loan bears interest at a rate of six percentage points per annum. The term of the loan agreement is three years.
KHD Humboldt Wedag International AG (KHD) has replaced its existing bonding line facility with a new long-term solution. On August 25, 2014, KHD cancelled its existing bonding line facility with a consortium of banks, which had issued bank guarantees of over € 80.3 million as per December 31, 2013. The Group replaced this facility with two bilateral bonding line agreements with the Deutsche Bank AG (€ 40 million) and the Raiffeisen Bank International AG, Wien (€ 38 million).
KHD Humboldt Wedag International AG (KHD), Cologne, is updating its annual budget and adjusting its forecast for the 2014 financial year accordingly. Although the Parts & Services segment is expected to perform better than originally planned, the Capex segment has been strongly affected by risks arising from the current economic and political developments.