Cement News tagged under: France

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Fives FCB acquires Technip’s cement division, France

31 July 2012, Published under Cement News

Fives FCB, a subsidiary of the Fives Group, has acquired the business portfolio of CLE Groupe Technip France, the specialist cement plant division of the Technip Group. For more than 40 years, the CLE, Groupe Technip France division has completed installation and revamping projects for many cement manufacturer customers. More recently, it has been involved in major revamping projects in France, Poland, Spain, Tunisia, Morocco, Turkey and Brazil. The many facilities developed by the CLE, Gr...

Lafarge takes hit on Greek impairment charge, maintains outlook

27 July 2012, Published under Cement News

Lafarge has reported improved second-quarter sales and operating profit but net profit plummeted as it took an impairment charge of EUR200m (US$244m) on its Greek assets. Second-quarter sales rose five per cent to EUR4261m and EBITDA increased eight per cent to EUR1007m. Net income in 2Q was only EUR57m due mainly to the Greek impairment charge. For the first-half sales increased by five per cent to EUR7614m and EBITDA eight per cent to € 1523m while net profit was  EUR13m down from EU...

Citigroup lowers Italcementi price target, Italy

09 July 2012, Published under Cement News

Citigroup has lowered its price target on Italcementi to EUR3.60 from EUR4.10, after cutting by 15% the pre-tax profit estimates for the Italian cement producer in 2012 and 2013. The prices and figures in Italy grew despite the weak market conditions but the dipping sales in France lead the bank to expect lower figures in 2012 than in 2011, Citigroup commented. The higher prices in North America are expected to raise Italcementi's profit on the market both in the first half and full-201...

Lafarge places seven-year EUR500m bond

03 July 2012, Published under Cement News

Lafarge placed today, under its Euro Medium-Term Note program, a EUR500m bond with a seven year maturity and fixed annual coupon of 5.875% to institutional investors.   While Lafarge had no immediate refinancing needs, the company said: “proceeds of this bond issuance will reinforce the already strong liquidity position of the Group.”   The settlement and issuance of the bond are expected to occur on 9 July 2012.

Lafarge to cut a further 97 jobs in France

27 June 2012, Published under Cement News

Lafarge expects to cut a further 97 jobs in its domestic market of France as part of a plant to merge its three French divisions into one, to be headquartered in the Paris region. Lafarge, which employs a total of 68,000 people including 5300 in France, said in February it would cut 460 jobs worldwide, including 90 in France as part of a its corporate restructuring announced in November 2011. Earlier this month the group unveiled plans to cut costs by EUR1.3bn and increase profits over...

Eurozone April construction output falls

21 June 2012, Published under Cement News

Construction output in the 17 nations that use the euro dropped 2.7 per cent in April compared to the month before, and five per cent from April 2011, the European Union's official statistics agency Eurostat said Tuesday. Eurostat also lowered its estimate for the growth of construction output in March, to 11.4 per cent from 12.4 per cent. The decline in construction during April was widespread across the currency area, with building work down six per cent in Germany, 2.3 per cent in Spain...

Fitch affirms Lafarge IDR at BB+

13 June 2012, Published under Cement News

Fitch has affirmed the Long-term Issuer Default Rating (IDR) and the senior unsecured rating of Lafarge at BB+ with a "stable" outlook. The affirmations reflect Fitch's view that the group will continue to reduce debt and improve its credit metrics in 2012, the agency said in a statement today. Fitch expects Lafarge's leverage ratio to fall below 4.0x by the end of 2012, a level that would be in line with the current rating. However, Fitch forecasts part of the envisaged EUR500m savings i...

Lafarge to accelerate cost cuts, lower debt

12 June 2012, Published under Cement News

Following the implementation of its new organisation, Lafarge has announced its 2012 to 2015 plan to cut costs by EUR1.3bn over the next four years and bring its net debt below EUR10bn as early as possible next year. The group is targeting a return on capital of more than eight per cent in 2015. Bruno Lafont, Chairman and Chief Executive Officer of Lafarge, said in a statement: "The plan we are presenting today will quickly drive higher returns for our shareholders, significantly strengthe...

Haver & Boecker acquires Newtec Bag Palletizing

31 May 2012, Published under Cement News

Haver & Boecker Holding GmbH has taken full control of Newtec Bag Palletizing by acquiring 100 per cent of its shares from the Newtec International Group SA. Newtec Bag Palletizing is a manufacturer of automatic palletising systems with headquarters in Illzach, France. It has over 1200 references, mainly in the chemical, agricultural and building materials industries. Newtec Bag Palletizing will be an independently operating Group company. This acquisition significantly strengthens the Hav...

Kercim to begin production in 2013

10 May 2012, Published under Cement News

Newly established cement company, Kercim will complete the construction of its plant, in Montoir-de-Bretagne, western France, by the end of this year. Production will start at the beginning of 2013. Kercim has invested EUR44m in the facility has a cement capacity of 600,000tpa. Abstracted from an original article in Les Echos