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.
KHD Humboldt Wedag International AG (KHD) has entered into a € 50 million loan agreement with AVIC International (HK) Group Ltd., Hong Kong, as the borrower.
In today’s Annual General Meeting the shareholders of KHD Humboldt Wedag International AG (KHD) passed a resolution to reduce the number of Supervisory Board members to three persons and re-elected Ms. Eliza Suk Ching Yuen and Mr. Hubert Keusch as members of the Supervisory Board. Mr. Kangning Zou was newly elected as a member of the Supervisory Board.
ZAB Zementanlagenbau GmbH Dessau a subsidiary of KHD Humboldt Wedag International AG has signed contracts totaling over € 90 million for equipment and services for a new cement plant consisting of two 3,000 tpd clinker lines. The customer, Pervaja Cementnaja Kompanija (PZK), is part of the same Group as major Russian construction company SU-155.
ZAB Zementanlagenbau GmbH Dessau, a subsidiary of KHD Humboldt Wedag International AG, has received notice of project termination from Stavropolsky Zavod Stroitelnih Materialov, a member of the EUROCEMENT group.
KHD Humboldt Wedag International AG (KHD ), one of the world’s leading suppliers of equipment and services for the cement industry, achieved revenues of € 249.6 million in the 2013 financial year , a significant increase compared with the previous year. Continued fierce competition and the unsatis factory margin quality in the order backlog had a negative impact . KHD nevertheless recorded a positive EBIT of € 1.2 million.
Due to unexpected profit deterioration in the latest cost estimations of a few major projects, KHD Humboldt Wedag International AG (KHD) will not reach its margin guidance for the 2013 financial year.
According to preliminary unaudited figures, KHD will close 2013 with a significant increase in revenues, EBIT between € 1 – 2 million and EBIT margin of less than 1.0%.
“Volskcement” OJSC Russia (Holcim Group) has placed an order with Zementanlagenbau GmbH Dessau (ZAB), a subsidiary of KHD Humboldt Wedag International AG (KHD), to construct a production line in the Volsk cement factory. The scope of the contract, with an order value of over € 77 million, comprises engineering and the delivery of equipment. The project is scheduled to run until the end of 2016.
The Management Board and Supervisory Board of KHD Humboldt Wedag International AG, Cologne, Germany, (hereinafter: KHD) published today on the company’s homepage the joint statement concerning the takeover bid of AVIC International Engineering Holdings Pte. Ltd., Europe Project Management Pte. Ltd., Europe Technology Investment Pte. Ltd. and Europe Engineering Holdings Pte. Ltd. The Management Board and Supervisory Board recommend the shareholders of the company to accept the takeover bid at the offer price of EUR 6.45 per share.
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