Cement News tagged under: Lafarge
Lafarge inaugurates 2Mta Russian plant20 May 2014, Published under Cement NewsLafarge has officially opened its 2Mta Kaluga cement plant in Russia with a ceremony attended by First Deputy Prime Minister, Igor Shuvalov. Located in Ferzikovo village, it is the first cement production facility in this region and is strategically located thanks to its proximity to Moscow. This plant will complement Lafarge’s presence in Russia where the group has been present for nearly 20 years. The ribbon-cutting ceremony was also attended, among other distinguished guests, by the K... |
Lafarge denies claims of market dominance, Kenya20 May 2014, Published under Cement NewsLafarge has denied claims by Kenya’s antitrust authority that the cement producer may be flouting domestic competition rules and said it wants to work with the government to boost returns in the nation’s cement industry, reports Bloomberg. The Competition Authority of Kenya is probing the company’s influence on prices through its 59 per cent stake in Bamburi Cement Co and 42 per cent interest in East Africa Portland Cement Co (EAPCC), the nation’s largest and third-biggest cement producers... |
Kenya: Lafarge under competition probe16 May 2014, Published under Cement NewsKenya’s antitrust authority may force Lafarge SA to sell some of its domestic interests if the cement maker is found to be flouting domestic competition rules, according to Bloomberg reports. The Competition Authority of Kenya is probing Lafarge’s influence on Kenya’s cement industry through its 59 per cent stake in Bamburi Cement Co and 42 per cent shareholding in East Africa Portland Cement Co (EAPCC). The findings will be published next month, Director-General Francis Kariuki said in an ... |
CRH can spend big on acquisitions08 May 2014, Published under Cement NewsCRH Chief executive Albert Manifold was questioned by the Irish Examiner about growth opportunities for the Irish building materials company following the company's AGM in Dún Laoghaire. Albert Manifold said that management would continue to search for opportunities in its core markets of mainland Europe, the Americas and Asia and would have approximately EUR1.5bn available to spend over the next year and a half to spend on acquisitions and investments in the next year. Since the beginning... |
Lafarge 1Q14 EBITDA up 21%06 May 2014, Published under Cement NewsLafarge announced that its 1Q14 sales were down two per cent to EUR2633m (up nine per cent like-for-like YoY). EBITDA was stable at EUR343m and current operating income was up 14 per cent to EUR146m. Bruno Lafont, Lafarge chairman and CEO, said: "Our first-quarter results confirmed the positive trends experienced at the end of last year. Our volumes were supported by continuing growth in emerging markets and the progressive improvement in several European markets. North America was affect... |
UltraTech Cement could buy Holcim-Lafarge assets06 May 2014, Published under Cement NewsUltraTech Cement Ltd, India’s biggest cement maker, is considering buying the local assets of Holcim Ltd and Lafarge SA, according to a person with direct knowledge of the matter. “The ready availability of assets may help the Indian firm gain market share without having to build greenfield factories,” said Rashesh Shah, an analyst at ICICI Securities Ltd in Mumbai. Birla’s plan also underscores optimism among investors that a stable government following this month's elections will spur a ... |
Pakistan: Kohat Cement Co interested in 76% Lafarge Pakistan stake05 May 2014, Published under Cement NewsPakistan's Kohat Cement Company announced that it will participate in the bidding process for the acquisition of 1.1bn ordinary shares of PKR10 each of Lafarge Pakistan, representing 75.86 per cent of the total issued and paid-up share capital of Lafarge Pakistan, according to local news service The News. Vision Holdings Middle East, which holds a 47 per cent stake in Pioneer Cement, and DG Khan Cement have also expressed interest in acquiring the stake from Lafarge subsidiary Sofima SA. ... |
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 ... |