US: The German cement maker HeidelbergCement has said that it will not place a counter bid for US competitor Vulcan after US Martin Marietta offered US$4.8bn for Vulcan.
HeidelbergCement's CEO Bernd Scheifele said that HeidelbergCement would wait until the deal was closed and then see if any assets are put up for sale. He said that he does not expect any big consolidation moves in the industry in the short term, because companies are currently preoccupied with reducing their debts.
Scheifele stuck to the company's forecast to book US$15.3bn in revenue and US$1.82bn in operating profit in 2011, both above 2010's figures.
