Lafont sticking to construction outlook

Lafont sticking to construction outlook
Published: 11 July 2011

Lafarge expects strong construction demand in emerging markets in 2011, including in unrest-torn North Africa, but growth will stagnate in developed markets, its chief said.

"There is nothing to change in our outlook for this year in terms of activity in the construction market," Bruno Lafont told Reuters on the sidelines of a business forum.

"(We expect) a global stagnation in developed markets and a rather strong growth in emerging markets," he said, but added Lafarge had seen signs of rebound in certain developed countries, which he did not name.

Lafont declined to say whether the company was sticking to its forecast for a rise of 2-5 percent in global cement demand in 2011. Lafarge lowered its forecast in May from a previous guidance for 3-6 percent rise.