November 9, 2016 / 10:26 AM / 8 months ago

HeidelbergCement sees benefits from Trump victory in medium term

1 Min Read

A logo of HeidelbergCement is pictured at their headquarters in Heidelberg, Germany, June 21, 2016.Ralph Orlowski

FRANKFURT (Reuters) - Germany's HeidelbergCement sees benefits in the medium term from an expected renewal of U.S. infrastructure by presidential election victor Donald Trump after a period of uncertainty that will delay investment decisions.

"In 2017 in America we'll see first of all a brake on investments," Chief Executive Bernd Scheifele told reporters on a conference call after the company - one of the world's top cement and aggregates suppliers - reported quarterly results on Wednesday.

He said he expected a rise over time in the value of the U.S. dollar that would help compensate for investment caution. HeidelbergCement makes about a quarter of its sale in dollars.

HeidelbergCement shares rose 1.1 percent by 0514 ET, one of the few German blue-chip gainers, and the European construction and materials index rose 0.8 percent.

Reporting by Georgina Prodhan; Editing by Maria Sheahan

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