Cement News tagged under: Lafarge
Lafarge trims market growth outlook, debt reduction goal on track26 July 2013, Published under Cement NewsLafarge reported a marked rise in 2Q net profit although consolidated sales declined. The company has now trimmed its forecast for cement market growth this year but confirmed its goal to reduce debt to below EUR10bn this year. EBITDA fell eight per cent to EUR922m and current operating income declined 11 per cent to EUR667m. Net profit in the second quarter came in at EUR201m compared to EUR39m in the same period last year when earnings were hit by exceptional items. Consolidated sal... |
Lafarge hit by winter weather and lack of carbon credit sales26 July 2013, Published under Cement NewsLafarge's first-half turnover eased by 4.8 per cent to EUR7248m (US$9628.3m) and the EBITDA declined by 14 per cent to EUR1302m, while the trading profit fell by 21.8 per cent to EUR791m. The gain from the sale of emission permits in the period was negligible compared with EUR46m a year ago. The net attributable profit amounted to EUR84m, compared with a EUR21m loss a year earlier. Net debt at the end of June was 5.3 per cent lower at EUR11,881m and the gearing level declined from the 77.4 p... |
Lafarge delays Ravena kiln project until 201725 July 2013, Published under Cement NewsLafarge will be allowed to delay the construction of new pollution control systems at its Ravena works in New York in exchange for an agreement to cut emissions more than previously planned. Lafarge had previously reached a legal settlement with both state and federal officials to reduce emissions of NOx and SO2 emissions at its plants in Ravena and elsewhere in the state. Lafarge had agreed to replace two lines at the Ravena plant with a new state-of-the-art kilns by the end of 2015 with a... |
Fitch affirms Lafarge's BB+ rating, France15 July 2013, Published under Cement NewsFitch has affirmed at BB+ the long-term issuer default rating (IDR) of Lafarge as well as its senior unsecured rating. The long-term IDR's outlook is stable. The affirmation reflects Fitch's expectation that Lafarge will be able to deleverage quickly in 2013 reaching credit metrics in line with the current rating, despite debt in 2012 being higher than Fitch's expectations and leverage being stretched for the current rating level. Recovery in the US, positive trends in emerging markets and... |
Gebr Pfeiffer grinding mill for Lafarge cement works in Russia11 July 2013, Published under Cement NewsLafarge Cement has opted for a Gebr Pfeiffer vertical roller grinding mill to be installed at its Ferzikovo works in Russia. The MPS 5300 BC with a drive power of 5500kW will produce 190tph of CEM I 42.5 R with a specific surface of 3600cm²/g and various blended cements. In addition to the vertical roller mill the scope of supply will cover the plant filter, the fan, the handling equipment of the external material circulation as well as its dust collection equipment. Gebr Pfeiffer SE will ... |
Hima Cement completes installation of new bag filter, Uganda11 July 2013, Published under Cement NewsHima Cement Ltd, part of the Lafarge group, has completed the installation of new bag filter technology at its Kasese plant in Uganda to bring stack emissions in line with global environmental standards. "We invested significant resources to conduct environmental impact assessments to ensure that the plant operations met all the required environmental standards for its manufacturing processes and operations," Peter Robson, Hima Cement's Plant Manager told AllAfrica News. Hima installed a ... |
CCI approves sale of Lafarge India stake03 July 2013, Published under Cement NewsThe Competition Commission of India (CCI) has cleared the proposed 14 per cent sale of Lafarge India Pvt Ltd to Baring Private Equity Asia. "The combination is not likely to have appreciable adverse effect on competition in India and therefore, the Commission hereby approves the combination under... the (Competition) Act," CCI said in its order dated June 26. In May Baring Private Equity Asia, through its wholly-owned subsidiary Paris Cement Investment Holdings, agreed to acquire a 14.... |
Lafarge to continue investing in China06 June 2013, Published under Cement NewsLafarge said it will continue investing in China in research, namely in research, production and the creation of new partnerships, according to the company’s chief. Bruno Lafont, chairman and chief executive of the French cement major told the People’s Daily China that the company will invest using a “value-growth” model. It will prioritise its existing position in southwest China, although it may expand to other parts of the country, he added. On China’s overcapacity issues, Lafont s... |
New Uzbekistan cement plant on track for year-end commissioning21 May 2013, Published under Cement NewsA new 0.45Mta cement plant being constructed by Russian investors in Uzbekistan is on track for commissioning by the end of this year. Russian company OOO IP Surhan Cementinvest is building the factory in the Kurkugan district of Surkhandarya oblast. The plant will have access to rail and a 10MW substation of 110/10kV. According to AzerNews, around 60 per cent of the plant’s output will be exported, with Afghanistan cited as a main destination. Uzbekistan currently has seven cement pla... |
Oficemen names new president, Spain15 May 2013, Published under Cement NewsIsidoro Miranda, CEO of Lafarge Spain, has been appointed president of Spanish cement association, Oficemen. Mr Miranda replaces José Luis Sáenz de Miera of Cementos Portland Valderrivas, who was appointed in late February following the departure of Juan Bejar, also of Portland Valderrivas. Speaking of the challenges the Spanish cement sector faces in light of the current economic climate, Mr Miranda stated: "The cement industry is at a critical moment, but our business is critical to... |