Cement News tagged under: Holcim
EC to investigate Cemex and Holcim Spanish deal24 April 2014, Published under Cement NewsThe European Commission said on Wednesday it is investigating plans by Cemex and Holcim over a Spanish deal because of competition issues. "The Commission has concerns that the transaction may reduce competition in certain areas of Spain where the two companies' activities overlap," the EU executive said in a statement. Removing Holcim from the Spanish market “could facilitate coordination” between cement makers, the statement added. Collusion on pricing and customer allocation “could b... |
LafargeHolcim will create Indian market leader21 April 2014, Published under Cement NewsThe merger of Lafarge and Holcim will create the largest producer in India, overtaking the current leader, UltraTech Cement, according to a report in The Economic Times of India. Currently, Holcim controls ACC and Ambuja Cements, while Lafarge operates around 8Mta capacity, concentrated in the east of the country. After the merger, the combined Lafarge Holcim entity plus UltraTech would represent 40 per cent of total domestic production capacity, which will prompt the Competition Commissio... |
CEO Dr Scheifele: LH merger no threat to HeidelbergCement17 April 2014, Published under Cement NewsThe announced mega-merger of Lafarge and Holcim is expected to change the competitive landscape in the cement industry as a new global building materials giant, LafargeHolcim, is created. Where does this leave other cement majors such as HeidelbergCement? Dr Bernd Scheifele, CEO of HeidelbergCement, does not view the merger and the benefits of a much larger global footprint as a threat to his company. In a recent interview with Phil Roseberg, Senior Analyst at BernsteinResearch, Dr Scheif... |
Fitch affirms Holcim long-term rating14 April 2014, Published under Cement NewsFollowing the announcement by Holcim to merge with Lafarge SA, Fitch Ratings has affirmed the Swiss major's Long-term Issuer Default Ratings (IDR) at 'BBB'. The Outlook is Stable. The affirmation reflects the combined group's improved scale, diversification and market positions on completion of their announced merger and the synergy potentials between the two companies. “We forecast funds from operations (FFO) adjusted leverage in excess of 3.5x for the combined group in 2015, compared ... |
Argos acquires French Guiana assets10 April 2014, Published under Cement NewsColombia's largest cement maker, Argos, said on Wednesday it will pay EUR50m to acquire Ciments Guyanias, owned equally by Lafarge and Holcim, just two days after the European majors announced a merger. The purchase includes a 200,000tpa clinker grinding plant and a port, both located in Degrad des Cannes, close to the capital Cayenne. Argos said the move forms part of the company’s objective to consolidate it operational and logistical cement network. The deal is also in keeping with Arg... |
Deutsche Bank upgrades Holcim to buy09 April 2014, Published under Cement NewsDeutsche Bank upgrades Holcim to buy from hold and lifts its target price to CHF90 (EUR74) from CHF70 (EUR57) as the upside potential in the building sector should boost cement demand. This "when combined with a transformational deal with Lafarge, which brings global leadership status and hopes for greater market discipline, should make the combined entity a key holding for long term shareholders seeking to increase the beta in their portfolio," say Deutsche Bank analysts. |
Moody's places Lafarge's ratings on review for upgrade, changes outlook on Holcim Baa2 rating08 April 2014, Published under Cement NewsMoody's has put Lafarge's Ba1 rating on review for a possible upgrade following the announced merger proposal with Swiss peer Holcim. At the same time, the credit rating's agency has changed its view on Holcim's Baa2 rating to negative from stable. The ratings actions reflect the fact that Holcim has a stronger balance sheet and credit rating than Lafarge. "The merger of Holcim and Lafarge will create the largest and geographically most diversified cement producer worldwide," said Moody's ... |
Lafarge and Holcim agree cement merger07 April 2014, Published under Cement NewsHolcim and Lafarge have confirmed today their intention to combine the two companies through a merger of equals, to create a new number one global cement major. Billed as a ‘merger of equals’, Lafarge shareholders will receive one Holcim share for every Lafarge share held. The agreement was unanimously approved by their representative board of directors and fully supported by the core shareholders of both companies, a joint statement released today said. The two companies said they hope to... |
Holcim and Lafarge confirm talks on possible merger04 April 2014, Published under Cement NewsHolcim and Lafarge have confirmed that they are in advanced discussions regarding a "possible combination." The world's two leading cement majors said in separate releases that: "given the strong complementarity of their portfolio and the cultural proximity between the two companies, there is rationale in considering a potential merger that could deliver significant benefits to customers, employees and shareholders." "The discussions are based on principles consistent with a merger of equ... |
Holcim Spain issues new ERE02 April 2014, Published under Cement NewsHolcim Spain has presented a new record of employment regulation (ERE) that will affect 141 staff. While Holcim is reported by construction organisation Fecoma to have plans to sell its Gádor (Almería) cement works, the ERE mainly affects workers in the concrete mortar and aggregates divisions. The adjustment in its workforce is part of ongoing changes made in recent years by several Spanish cement makers, including Cemex and Cementos Portland. Spain’s cement sector has made considerab... |