Cement News tagged under: LafargeHolcim
India: mining law changed to assist cement mergers03 May 2016, Published under Cement NewsThe upper house of India’s parliament on Monday approved an amendment to the mining law, allowing the transfer of mines from sellers to buyers in a victory for the State Bank of India (SBI) that had lobbied for the change. Mines Secretary, Balvinder Kumar, told Reuters the changes were mainly aimed at helping companies sell limestone mining licences along with their cement plants. It could also facilitate a merger of the Indian assets of France’s Lafarge and Switzerland’s Holcim after a... |
Moody affirms LafargeHolcim's rating at Baa229 April 2016, Published under Cement NewsFinancial analysts Moody has today affirmed the Baa2 long-term and Prime-2 short-term ratings for LafargeHolcim Ltd (LH) and its rated subsidiaries and changed the outlook to "negative" from "stable". "The outlook change to negative from stable on LafargeHolcim's Baa2 ratings follows weaker than expected operating performance during 2015, a challenging outlook for several of the group's major markets and execution risks related to the timing of its ambitious disposal programme," says Falk... |
Ambuja Cements reports 4.4% profit fall29 April 2016, Published under Cement NewsIndia’s Ambuja Cements has reported a 4.4 per cent fall in net profit, which reached INR3.038bn (US$45.6m) in 1Q16. In the first quarter of 2015, net profit reached INR3.177bn. The company’s income has decreased by 0.89 per cent at INR25.809bn for quarter under review as compared to INR25.581bn for the quarter ended 31 March 2015. Net sales declined slipped by 0.3 per cent to INR24.18bn in 4QFY16 as against INR24.25bn in the corresponding quarter last year, according to a company statemen... |
Morgan Stanley: cement consumption to grow 4% YoY to 202025 April 2016, Published under Cement NewsNew research from Morgan Stanley predicts that worldwide cement demand excluding China has turned a corner and will grow at an annualised rate of four per cent between 2016 and 2020. The investment firm is particularly bullish about India, South Asia and sub-Saharan Africa, all of which it forecasts will see consumption grow by more than five per cent per year over the period (with Indian demand set to expand at 6.7 per cent). However, consumption in China is predicted to fall by 1.2 per ... |
LafargeHolcim considering Vietnam exit25 April 2016, Published under Cement NewsLafargeHolcim Group, a joint venture between Swiss Holcim Ltd. and French Lafarge Group, may withdraw from Vietnam due to oversupply of cement in the domestic market, said Nguyen Cong Bao, general director of Holcim Vietnam, a subsidiary of Holcim Ltd. The group had a meeting with the Vietnamese Ministry of Construction to notify of the group’ business plans in Vietnam for the coming time, Mr. Bao was quoted by Dau Tu newspaper as saying Wednesday. According to the newspaper, Vietnam Cemen... |
India: LafargeHolcim sale temporarily halted by court18 April 2016, Published under Cement NewsThe sale of 11Mta of LafargeHolciim assets in India has been put on hold by India's Competition Appellate Tribunal. According to Mint an appeal has been lodged by Dalmia Cement (Bharat) Ltd. against the Competition Commission of India’s decision ordering the divestment of Lafarge India. The tribunal's decision will delay the sale process by at least three weeks, until May 9. Last week saw the close of bidding for the assets - three integrated plants and two grinding plants with a combi... |
Beat Hess is nominated as LafargeHolcim's new chairman15 April 2016, Published under Cement NewsLafargeHolcim's Board of Directors has proposed to the Annual General Meeting of 12 May 2016 the election of Beat Hess as the new group chairman. He will be succeeding Wolfgang Reitzle, who has been chairman for two election periods and a member of the Board of Directors since April 2012. The Board of Directors would like to thank Wolfgang Reitzle for his valuable service to the group as well as all his efforts and contributions, which were instrumental for the completion of the LafargeHolci... |
Ten bidders chase LafargeHolcim Indian assets14 April 2016, Published under Cement NewsThe sale of LafargeHolcim's Indian operations has attracted considerable interest, with the company having received bids from 10 groups interested in buying the assets. According to India's Economic Times, JSW Cement, Blackstone and Ramco Cements have all submitted bids, while the Irish Times notes that CRH, Piramal Group and Carlyle Group are also in the running. LafargeHolcim is selling three integrated plants and two grinding plants with a combined capacity of 11Mta, valued at aroun... |
Deadline nears for LafargeHolcim India assets bids05 April 2016, Published under Cement NewsAdvisors to the sale of LafargeHolcim's 11Mta Indian cement production capacity say that they expect to receive seven to eight bids before next week's deadline. The sale - which was a required by competition authorities - has attracted the attention of a number of private equity firms. According to reports by India’s Mint newspaper, Temasek Holdings, Advent International, Barings Asia Private Equity, Blackstone, Aion Capital and the investment arm of Piramal Group are all evaluating the d... |
Spain: LafargeHolcim to seek different quarry area for Sagunto05 April 2016, Published under Cement NewsTeresa Garcia, environment councillor for the town of Sagunto, Spain, is advising LafargeHolcim to “consider other options” for a new quarry as the coveted area in Pinyal is “an important forest area and head of basin that must be protected.” She also referred to the Valencia Territorial Strategy to support her decision. The original decision, signed in 2009, gave the company the option to open a new quarry in the area to guarantee its future extraction of raw materials and operation of it... |