HeidelbergCement AG (HEI.XE) Chief Executive Bernd Scheifele
said the European Union has failed as it doesn't create wealth,
adding the company keeps investments in the currency bloc at a
modest level, newspaper "Frankfurter Allgemeine Sonntagszeitung"
quotes him as saying in a pre-release of its Sunday edition.
Furthermore, the company, which is listed on the German
benchmark index, wants to cut its debt load to EUR6.5 billion from
currently EUR7 billion, Mr. Scheifele added.
His comments contrast with statements from Deutsche Bank AG
(DBK.XE) Co-Chief Executive Juergen Fitschen, who told the
newspaper that countries like Ireland and Greece achieved more than
expected so far. "The [European Central Bank] has prevented what
many had feared," Mr. Fitschen said, commenting on the sovereign
bond purchase program that brought down lending costs for European
periphery countries. "For a start, we should be grateful that the
system has been stabilized", he added.
Newspaper website: http://www.faz.net
-Write to the Frankfurt Bureau at
djnews.frankfurt@dowjones.com