(AOF) – Hoffmann Green Cement Technologies announces the launch of a new share buyback program for a maximum amount of 400,000 euros, over 18 months. The company’s Management Board, in its meeting dated October 17, decided, in addition to the repurchase of shares under the liquidity contract, to implement this new share repurchase program with a view to covering the plans free share allocations for the benefit of Hoffmann Green employees.
The company’s management board, in its meeting dated October 17, decided, in addition to the repurchase of shares under the liquidity contract, to implement this new share repurchase program with a view to covering the plans free share allocations for the benefit of Hoffmann Green employees.
As a reminder, the previous share buyback program launched in November 2019 resulted in the buyback of 13,701 shares, currently held by the company, allocated to the objective of stimulating the company’s securities market within the framework of of the liquidity contract, by agreement concluded on October 21, 2019 with Portzamparc (BNP Paribas Group).
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Lack of visibility
The National Union of Quarry and Construction Materials Industries (Unicem) indicates that, after an initial decline in the second quarter, activity continues to deteriorate in the third quarter and records a decline as much in aggregates (-1.3 %) than on ready-mixed concrete (-0.9%). Over the first nine months of the year, the decline was 2% for the entire materials activity. Only tiles and bricks manage to show slight increases in activity.
The general outlook is deteriorating and recruitment difficulties and rising costs are the main sources of concern. Furthermore, Unicem highlights the difficulties in implementing the projects. Production of materials could decline this year by 3% for ready-mixed concrete (BPE) and 4% for aggregates.