Cement News tagged under: Lafarge

RSS feed

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...

FCB TSV™ Classifier for Lafarge Ain Sokhna plant

07 April 2015, Published under Cement News

Fives will supply a new high-efficiency separator for the Lafarge Cement Egypt petcoke grinding unit in the frame of its conversion from open to close circuit by Imsat (Romania). Thanks to the installation of the FCB TSV™ Classifier the grinding plant will produce 90tph of pulverised petcoke with R90µm ≤ 5 per cent, as required by LCE to shift from the conventional fuel used presently for the pyroprocess to petcoke. This project is aiming at relieving the stress on the cement plant due to...

LH merger: Galchev demands improved terms

06 April 2015, Published under Cement News

Russian billionaire, Filaret Galchev, who holds 10.8 per cent of Holcim through Eurocement holding, is demanding a renegotiation of the deal by Holcim and Lafarge to create the world’s largest cement company. The revised terms of the merger gave a more attractive share-swap ratio for Holcim shareholders, whereby Lafarge shareholders would receive nine Holcim shares for every 10 Lafarge ones, rather than the one-for-one ratio previously proposed. However, Galchev, Holcim’s second-largest s...

HeidelbergCement turned down merger with Holcim

06 April 2015, Published under Cement News

HeidelbergCement turned down a merger with Holcim, following discussions in late 2013 between Holcim chairman Rolf Soiron and HeidelbergCement’s biggest shareholder, Ludwig Merckle, who owns 25 per cent of HeidelbergCement shares through the family-run Spohn Cement, according to reports in SonntagsZeitung newspaper. "Right before the talks with Lafarge, Soiron discussed a merger with Heidelberg," the Swiss newspaper quoted one of the sources as saying. "Heidelberg declined it, though, becau...


02 April 2015, Published under Cement News

Holcim has sold its remaining 27.5 per cent stake in Siam City Cement for CHF655m (EUR624m) in a share placement that will yield a CHF465m (EUR348m) profit. A 24.9 per cent stake went to a member of the Hong Kong-based Jardine Matheson group and the remaining shares were places with institutional investors. Siam City Cement has a cement capacity of 14.5Mta at its Saraburi works, which employs in excess of 4000 people. Following opposition from the shareholders of the more profitable Holci...

Lafarge and Holcim receive clearance from CCI on proposed merger

02 April 2015, Published under Cement News

Holcim and Lafarge yesterday announced they have received clearance from the Competition Commission of India (CCI) on their proposed merger. A package of asset divestments has been agreed with the CCI which involves the sale of the Sonadih cement plant and Jojobera grinding unit both owned by Lafarge. The two plants have a combined capacity total capacity of 5Mta and are situated in eastern India. The groups said in a joint statement that the divestment process will be carried out in the ...

Ashaka Cement pretax profit rises 84.5%

01 April 2015, Published under Cement News

Nigeria's Ashaka Cement 2014 pretax profit rose 84.5 per cent to NGN5.25bn (US$26m) from year ago, the company said on Tuesday. Revenue declined by 2.58 per cent during the period to NGN21.13bn, the unit of Lafarge Africa said in a statement.

Holcim's No. 2 shareholder reportedly plans to vote against Lafarge merger

30 March 2015, Published under Cement News

Eurocement Holding AG, the second-largest shareholder in Holcim Ltd, plans to vote against the Swiss company's merger with Lafarge SA unless the financial terms of the deal are altered, according to a person familiar with situation. Eurocement, which holds 10.82 per cent of Holcim, believes the terms of the deal continue to undervalue the Swiss company despite a revision of the agreement a little more than a week ago, the person said. The deal, which was originally structured as a one-for-...

Lafarge and Holcim agree on revised terms

20 March 2015, Published under Cement News

Lafarge and Holcim are back on track with their proposed merger having reached an agreement on revised terms for the deal. Holcim demanded new terms earlier this week, stating that the merger could no “longer be pursued in its present form and has proposed to enter into negotiations in good faith around the exchange ratio and governance issues." Under the new terms confirmed today, both parties agreed on a new exchange ratio of 9 Holcim shares for 10 Lafarge shares. The companies ha...

Fitch expects negative impact on Lafarge credit profile if Holcim merger fails

18 March 2015, Published under Cement News

A failure of the proposed merger between Lafarge and Swiss Holcim would have negative effect on the credit profile of the French company, Fitch said. According to the rating agency, a collapse of the merger would be credit neutral for Holcim and positive for the credit profile of Irish rival CRH because its commitment to acquire assets from the two companies hinges on the deal’s completion. The rating agency believes the merger would come to a successful ending despite Holcim’s decisio...