Cement News tagged under: Lafarge
Lagos state agrees deal with Lafarge and Dangote24 July 2012, Published under Cement NewsThe Lagos State Government has signed a new deal with Dangote Cement Plc and Lafarge Cement WAPCO Plc to ensure undisrupted cement supplies to construction firms contracted to handle various infrastructure project which the state government is set to embark upon. Commissioner for Works and Infrastructure, Dr. Obafemi Hamzat revealed the details at a media briefing where he said the state government had started looking into cement mix as an alternative method in road construction. Ha... |
Four Indian plants force to close on alleged environmental violation20 July 2012, Published under Cement NewsFour cement plants in the Indian state of Chhattisgarh have been ordered to shut down on alleged violation of air pollution controls norms. The Chhattisgarh Environment Conservation Board (CECB) told Business Line India that two UltraTech Cement plant, one Ambuja Cement and one Lafarge plant have all be closed for over a week now. The four units, all situated in Baloda Bazar district, have a total capacity of 10Mta. CECB member secretary, Mr Narsimha Rao, said there were charges of viola... |
Lafarge: June '1206 July 2012, Published under Cement NewsLafarge has launched its 'Sustainability Ambitions 2020' programme, which sets 34 new sustainability ambitions. These include an increase to 50 per cent of the portion of non-fossil fuels, which is to include a 30 per cent share for bio-mass, a 33 per cent reduction of CO2 emissions compared with 1990 and 20 per cent of the concrete produced containing re-used and recycled materials. The group aims to generate an additional EUR1750m of EBITDA between 2012 and 2015. The main item is to be... |
Brazil competition authority approves Camargo purchase of Cimpor05 July 2012, Published under Cement NewsBrazil’s competition authority CADE has approved Camargo Correa’s purchase of a controlling stake in Portuguese cement producer Cimpor, subject to several conditions. The main condition set by the regulator is that Votorantim, Camargo’s competitor on the Brazilian market, sells its stake in Cimpor. Votorantim and Camargo Correa both bought shares in Cimpor in 2010. Through their shareholdings in Cimpor, both Camargo Correa and Votorantim increased their share of Brazil's market. Cade als... |
Lafarge places seven-year EUR500m bond03 July 2012, Published under Cement NewsLafarge placed today, under its Euro Medium-Term Note program, a EUR500m bond with a seven year maturity and fixed annual coupon of 5.875% to institutional investors. While Lafarge had no immediate refinancing needs, the company said: “proceeds of this bond issuance will reinforce the already strong liquidity position of the Group.” The settlement and issuance of the bond are expected to occur on 9 July 2012. |
Defending profitability key for European companies03 July 2012, Published under Cement NewsFitch Ratings says that the ability to defend profitability in emerging countries is the most critical issue for the rating of the European cement companies rated by the agency, Holcim Ltd. ('BBB'/Stable), Lafarge SA ('BB+'/Stable) and HeidelbergCement AG ('BB+'/Stable). In its special report, Fitch compared the current financials of the major European cement companies to the pre-crisis situation to assess if and how geographical diversification helped companies to recover revenue and prese... |
Lafarge to cut a further 97 jobs in France27 June 2012, Published under Cement NewsLafarge expects to cut a further 97 jobs in its domestic market of France as part of a plant to merge its three French divisions into one, to be headquartered in the Paris region. Lafarge, which employs a total of 68,000 people including 5300 in France, said in February it would cut 460 jobs worldwide, including 90 in France as part of a its corporate restructuring announced in November 2011. Earlier this month the group unveiled plans to cut costs by EUR1.3bn and increase profits over... |
Moody's says CCI ruling to hurt Holcim & Lafarge26 June 2012, Published under Cement NewsMoody's has said the Competition Commission of India's (CCI) decision to impose a penalty on 11 cement producers is 'credit negative' for global cement majors Holcim and Lafarge both of which have Indian interests that have been fined. The agency said that the indirect consequences of the CCI decision is more harmful than the cash-outflow due to the penalty. "We believe that indirect credit consequences from the decision will outweigh the cash effect of the fines on Holcim and Lafarge,"... |
Indian producers issued with record fine on price fixing21 June 2012, Published under Cement NewsEleven Indian cement producers have been issued a total fine of INR60bn (US$1.1bn) for price fixing, the highest ever fine issued by the country’s antitrust authority in its three-year existence. The Competition Commission of India (CCI) said in its ruling that the companies colluded to underuse their plants and create an artificial cement shortage. "The commission has found that the cement companies have not utilised the available capacity so as to reduce supplies and raise prices in tim... |
Lafarge cement packer unveiled, UK20 June 2012, Published under Cement NewsLocal MP and member of Parliament, Ken Clarke, visited Lafarge Cement's Barnstone plant to officially unveil a state of the art cement packer which will significantly increase the plant's output. Lafarge operates the Barnstone plant for blending and packaging a unique range of over 26 ready to use cement-based products, mainly for the DIY market. The facility also exports specialist cements to some 27 countries. The latest investment in the cement packer follows an upgrade of the adminis... |