Cement News tagged under: Lafarge
Fitch affirms Holcim at 'BBB'; Outlook Stable15 April 2015, Published under Cement NewsFitch 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 proceedings15 April 2015, Published under Cement NewsSpanish 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 nominated14 April 2015, Published under Cement NewsHolcim 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 LafargeHolcim09 April 2015, Published under Cement NewsLafarge 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 plant07 April 2015, Published under Cement NewsFives 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 terms06 April 2015, Published under Cement NewsRussian 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 Holcim06 April 2015, Published under Cement NewsHeidelbergCement 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... |
Holcim02 April 2015, Published under Cement NewsHolcim 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 merger02 April 2015, Published under Cement NewsHolcim 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 NewsNigeria'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. |