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HeidelbergCement CEO says aim is to hold on to cash
July 31, 2012 / 9:16 AM / 5 years ago

HeidelbergCement CEO says aim is to hold on to cash

STUTTGART, Germany, July 31 (Reuters) - HeidelbergCement’s Chief Executive Bernd Scheifele said on Tuesday his motto remained to hold on to cash and avoid M&A transactions.

At the end of June, HeidelbergCement had available liquidity of 3.89 billion euros ($4.76 billion), up from 3.72 billion three months earlier.

HeidelbergCement reported its second-quarter operating income before depreciation rose 7 percent to 698 million euros, beating a consensus forecast of 679 million.

$1 = 0.8168 euros Reporting by Hendrik Sackmann

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