Completion of a $4 billion merger with Italcementi S.p.A., improved financials and credit ratings, plus declining energy costs, allowed HeidelbergCement to close the 2016 financial year on a successful note. "2016 was an exceptional year for HeidelbergCement," affirmed Dr. Bernd Scheifele, HeidelbergCement chairman. "With the successful takeover of Italcementi, we have accelerated our growth and are now in an excellent strategic position." "In our core business lines of aggregates, cement and ready mixed concrete, we occupy first, second and third place globally," Dr. Scheifele continued. "We have also achieved a major milestone with the investment grade classification by the rating agencies S&P Global Ratings, Moody's Investors Service and Fitch Ratings. Thanks to strong operational development and an improved financial result, we have been able to considerably increase our profit for the financial year before non-recurring effects.