Cement News tagged under: Holcim

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ISS backs LafargeHolcim deal

22 April 2015, Published under Cement News

US shareholder adviser ISS has recommended that Holcim investors back the Swiss cement maker's proposed merger with Lafarge ahead of next month's shareholder vote on the tie-up. Backing from ISS is a boost Holcim as it seeks to win the support of two-thirds of investors at a shareholder meeting on 8 May 2015 to approve a capital increase to fund the proposed deal. ISS said in its report to investors that the deal warranted investors' support as it had a clear strategic rationale and offere...

Holcim Awards for Sustainable Construction

21 April 2015, Published under Cement News

The winners of the 4th Global Holcim Awards for Sustainable Construction have been decided – the trophies and US$350,000 prize money go to projects in Colombia, Sri Lanka and the USA. "All three prizes recognise architectural interventions that deliver tangible benefits to local communities," according to a statement by Holcim. Gold A project for a public park in Medellín, Colombia, that creates urban spaces around a series of water tanks to form a “socio-technical” landscape of mag...

Holcim says Eurocement proposal 'too late' for consideration at meeting

17 April 2015, Published under Cement News

Holcim said a proposal by a major shareholder to have a seat on the LafargeHolcim board had come too late to be included in the agenda of a shareholder meeting next month. Lafarge and Holcim announced the names of the candidates for the board of the new group earlier this week, in a list comprising seven nominees from Holcim and seven from Lafarge. On Wednesday, Eurocement notified Holcim that, as the Swiss major’s second largest shareholder, it was nominating Galchev to join the board...

Holcim and Lafarge propose final US asset disposals

17 April 2015, Published under Cement News

Lafarge and Holcim announce further details on the package of assets they propose to divest in the United States, as part of their planned merger to create LafargeHolcim. The divestments include: • Lafarge's 1.1Mta Davenport cement plant (Iowa) and seven terminals along the Mississippi River to be sold to Summit Materials for a total consideration of US$450m in cash plus Summit’s Bettendorf, Iowa cement terminal • three Holcim terminals in Michigan and Illinois • Holcim's 0.6Mta Skyway...

Eurocement seeks Galchev Board seat at LafargeHolcim

16 April 2015, Published under Cement News

Eurocement Holding AG, the second-biggest shareholder in Holcim Ltd, said Wednesday it is nominating its owner, Filaret Galchev, for a position on the Board of the company that would be created by the planned tie-up between Holcim and Lafarge. The proposed nomination of Galchev in an emailed statement may signal that Eurocement, which holds a 10.8 per cent stake in Holcim, is willing to support the merger with Lafarge at next month's shareholder vote. The firm, however, gave no indication...

ACC quarterly volumes lower on weaker demand

15 April 2015, Published under Cement News

ACC reported a decline in sales volumes for the January-March 2015 period due to weaker cement demand from the infrastructure and the general construction sectors, India’s second-largest cement producer said in a statement yesterday. The Holcim group company said its cement sales in the first three months of 2015 were down by 10.2 per cent to 5.82Mt versus 6.48Mt in the same period of last year. However, a mix of better realisation on cement sold, as a result of an increase in cement p...

Fitch affirms Holcim at 'BBB'; Outlook Stable

15 April 2015, Published under Cement News

Fitch Ratings has affirmed Holcim Ltd's (Holcim) Long-term and Short-term Issuer Default Ratings (IDR) at 'BBB' and 'F2', respectively. The Outlook is Stable. "The affirmation reflects Holcim's leading market positions as one of the world's largest cement producers and our expectation that its financial profile remains commensurate with its 'BBB' rating. We expect a recovery in global end-markets, particularly in developed markets, and the continued healthy, albeit slowing, growth in emer...

Spanish watchdog includes Lafarge and Holcim in cartel proceedings

15 April 2015, Published under Cement News

Spanish competition regulator CNMC has included Lafarge and Holcim in the proceedings for alleged cartel agreements brought up against a number of sector players at the end of 2014. Additionally, the CNMC has extended the proceedings to Materiales y Hormigones and Hormibusa. The move was based on information gathered during several inspections carried out in September for alleged exchange of information, price fixing and market division practices in the cement and concrete sector. The CN...

Future Board of Directors of LafargeHolcim nominated

14 April 2015, Published under Cement News

Holcim and Lafarge have nominated their candidates for the future Board of Directors of the combined merged company, subject to closing of the transaction. The designated Board of Directors will consist of 14 members due to be elected at the Holcim Extraordinary General Meeting on 8 May 2015. Candidates • Wolfgang Reitzle, Co-Chairman (currently Chairman of the BoD of Holcim) • Bruno Lafont, Co-Chairman (currently Chairman of the BoD and Chief Executive Officer of Lafarge)
 • Be...

Eric Olsen appointed as future CEO of LafargeHolcim

09 April 2015, Published under Cement News

Lafarge and Holcim have approved the appointment of Eric Olsen as the future chief executive officer of LafargeHolcim, to be in office as from the closing of the merger project. Eric Olsen, presently Lafarge executive vice president, Operations, is appointed as future CEO of LafargeHolcim Mr Olsen (51), who has dual American and French nationalities, is presently Lafarge executive VP, Operations and has been a member of the Group’s Executive Committee since 2007. He has  h...