HD Humboldt Wedag International AG (KHD) has reached an agreement on granting an additional € 50 million loan to AVIC International Kairong Limited, Hong Kong, as the borrower. This loan will run from November 13, 2017 and will replace a loan that has been granted to AVIC International (HK) Group Ltd., Hong Kong, which will become due for repayment on November 13, 2017.
Humboldt Wedag GmbH, Germany, a subsidiary of KHD Humboldt Wedag International AG (KHD), Cologne, Germany, has signed contracts totaling over € 80 million for the supply of equipment and execution of civil and erection works as well as supervision services for a cement plant in western Sub-Sahara region.
KHD Humboldt Wedag International AG (KHD) has entered into a € 50 million loan agreement with AVIC International Kairong Limited, Hong Kong, as the borrower. This loan replaces a loan that has been granted three years ago to AVIC International (HK) Group Ltd., Hong Kong, which is due for repayment on July 22, 2017.
Humboldt Wedag India Private Limited (HW India), New Delhi, India, a subsidiary of KHD Humboldt Wedag International AG (KHD), Cologne, received a Letter of Award from the customer UltraTech Cement Limited. The Letter of Award relates to three new kiln lines, one new raw meal grinding plant with two KHD roller presses, and the upgrade of five existing clinker grinding plants with KHD roller presses.
Today the Supervisory Board of KHD Humboldt Wedag International AG (KHD), Cologne, appointed Mr. Gerold Keune as Chief Executive Officer (CEO).
Today the newly-elected KHD Humboldt Wedag International AG (KHD) Supervisory Board has elected Mr. Gerhard Beinhauer to be the Chairman of the KHD Supervisory Board. Mr. Xiaofeng “Frank” Liu has been re-elected as Vice Chairman.
After updating its annual budget, KHD Humboldt Wedag International AG (KHD), Cologne, is adjusting its forecast for the 2016 financial year accordingly.
Today the Chairman of the Supervisory Board of KHD Humboldt Wedag International AG (KHD), Cologne, Mr. Hubert Keusch, informed the KHD Management Board that for personal reasons he will not stand for re-election to the Supervisory Board at KHD’s annual general meeting on May 18, 2016. In the case of his election by the annual general meeting, he will not accept the election.
Today the Supervisory Board of KHD Humboldt Wedag International AG (KHD), Cologne, informed the KHD Management Board about the resignation of Mr. Johan Cnossen as Chief Executive Officer and member of the Management Board with immediate effect.
As informed in the ad hoc announcement dated June 19, 2015, errors were identified 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. In an ad hoc publication dated August 11, 2015, KHD announced a reduction of earnings before interest and taxes (EBIT) amounting to € 13.7 million and an equity reduction in an amount of € 14.9 million based on a preliminary assessment of the error. In accordance with IAS 8, the error correction was done retrospectively while preparing the Half Year Report 2015.