HeidelbergCement plans to seek state aid

Published:  29 May, 2009

FRANKFURT: HeidelbergCement, parent company of Hanson, is said to be considering an application for German state aid.

 

According to a report issued by Reuters this morning, "State help is something that HeidelbergCement is looking at," said a source, adding that no talks had yet been started with the German Government.

The company wants to make a deal with lenders to refinance its 9bn euros of bank debt by the end of June. It is also coming under pressure from some lenders to sell parts of its business.

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