Cement News tagged under: Lafarge
Thatta Cement signs joint venture agreement with Cementia10 May 2013, Published under Cement NewsPakistan cement producer Thatta Cement has signed a joint venture agreement with Cementia Holding for a new grinding plant in Sri Lanka. Cementia, based in Switzerland, is part of the Lafarge group and specialises in the trade and seaborne delivery of clinker, cement and cementitious products. “We wish to inform that today M/s Thatta Cement Company Limited (THCCL) has executed a Joint Venture Shareholders’ Agreement with Cementia Holding AG (Lafarge), Switzerland, in connection with ... |
Lafarge sales down on 1Q weather effect, confirms 2013 goals07 May 2013, Published under Cement NewsLafarge reported a six per cent decline in sales in the three months to the end of March as it was impacted by harsh winter weather conditions and production issues in Algeria and Egypt. However, the group said its performance and innovations targets remain on track and the company is on course to achieve its net reduction goal of less than EUR10bn this year. First-quarter volumes were notably affected by a particularly long winter in Europe and North America, together with a high 2012 co... |
OCI to settle tax dispute with Lafarge02 May 2013, Published under Cement NewsOCI has agreed to pay about EGP7bn (US$1bn) over five years to settle a tax dispute on the sale of its cement unit to Lafarge back in 2007, Bloomberg has reported. The payments will start in May this year and end in 2017, OCI said. The Egyptian Tax Authority determined that "there was no tax evasion by the company and is exonerating management and the company from any wrongdoing related to the transaction," the company said. |
Baring Asia in talks with Lafarge India for minority stake01 May 2013, Published under Cement NewsPrivate equity firm Baring Asia is said to be in advanced talks with Lafarge India to invest about US$240m for a minority stake, according to reports by Reuters. The deal is likely to be announced soon, two sources with direct knowledge of the deal told Reuters. Lafarge is raising capacity of its Indian arm to fund the expansion, according to one of the sources. Local press say that the stake could be around 14-15 per cent worth US$261m. Lafarge currently has four cement plants in India: ... |
Lafarge sells Ukraine cement plant to CRH26 April 2013, Published under Cement NewsLafarge is to sell its cement activities in Ukraine to CRH plc for an enterprise value of EUR96m. Lafarge, through its subsidiary Mykolaivtsement, operates a 1.3Mta integrated wet-process works at Mikolaiv in western Ukraine, near Lviv and has a domestic market share of around 12 per cent. The transaction, which is expected to close before year-end, is subject to relevant Ukrainian authorities' approval. Lafarge will remain present in Ukraine through three aggregates quarries serving ... |
Greece opposition party meets with Heracles employees05 April 2013, Published under Cement NewsThe general secretary of Greece’s Opposition Communist Party of Greece (KKE), Aleka Papariga, has met with representatives of the Heracles Cement plant at the party's headquarters in Perissos and expressed solidarity with those being made redundant following news of the cement plant's permanent closure. The KKE stated that the sector's trade unions, as well as related sectors, should offer their backing to workers who were laid off, Athens News Agency reported. Last month, Lafarge's Greek ... |
Lafarge North America sells Wichita, Kansas, assets to Summit Materials02 April 2013, Published under Cement NewsLafarge North America is selling its Wichita aggregates, concrete and asphalt/paving operations to Summit Materials. The Lafarge-Summit agreement involves Lafarge’s three aggregate quarries, five ready-mix concrete sites and three asphalt operations in the Wichita area, according to Lafarge. The transaction is expected to close in early April. Layoffs are expected although how many employees it will affect has not yet been specified. Lafarge has had the Wichita operations since November ... |
Lafarge Malayan Cement mulls expansion01 April 2013, Published under Cement NewsLafarge Malayan Cement may expand capacity in a bid to maintain market share as local rivals increase capacity amid rising domestic demand. The company is the country's leading cement producer and currently occupies a 40 per cent share of the market. Its major rivals are YTL Cement and Cement Industries of Malaysia (CIMA) both of which have planned capacity expansions. New entrant Hume Industries, which has constructed a new 1.5Mta plant, has also stepped up competition on the local marke... |
Lafarge Nigeria pretax profits more than doubles28 March 2013, Published under Cement NewsLafarge's Nigerian unit, WAPCO, said its full-year pretax profit more than doubled to NGN21.26bn (US$134.26m), compared with NGN10.34bn a year ago. Turnover also rose to NGN87.96bn during the period, from NGN62.50bn a year ago, it said. Lafarge WAPCO, a listed company in which Lafarge has a 60 per cent share, operates three adjacent plants in Ewekoro in Ogun State in southwest Nigeria with 4.5Mta of capacity, following a capacity increase programme in 2011 and 2012. |
Heracles to permanently close Halkis cement works, Greece27 March 2013, Published under Cement NewsHeracles Cement, the largest cement producer in Greece, is to permanently close the doors on its Halkis cement plant as the company restructures its business to adjust to the struggling domestic construction and cement sectors. The 2.6Mta Halkis plant has been idle since July 2011 and management have now made the decision to officially cease operations, as of 26 March 2013. The closure will result in job losses for 236 members of staff. The company stated that: “This decision comes afte... |