Cement News tagged under: Lafarge
Lafarge sustainability ambitions 202020 June 2012, Published under Cement NewsLafarge has entered a new phase in its sustainability commitment with the launch of Sustainability Ambitions 2020. The 34 new sustainability ambitions are organised around the three main pillars of sustainable development - social, economic and environmental and they are coupled with demanding quantitative targets. Chairman and Chief Executive Officer Bruno Lafont comments: "Sustainability Ambitions 2020 is the continuation of our 2007-12 programme, at the end of which we had achieved... |
Lafarge, UltraTech eye Jaiprakash units, India15 June 2012, Published under Cement NewsAditya Birla Group and Lafarge are separately in talks to buy Jaiprakash Associates cement units, the Economic Times reported on Friday. Officials from Lafarge and the Aditya Birla Group-controlled UltraTech Cement Ltd, Indias biggest cement producer, have completed preliminary talks and final bids are expected shortly, the newspaper said, citing sources with knowledge of the development. Jaiprakash has spun off its cement units in the western state of Gujarat and southern state of And... |
Fitch affirms Lafarge IDR at BB+13 June 2012, Published under Cement NewsFitch has affirmed the Long-term Issuer Default Rating (IDR) and the senior unsecured rating of Lafarge at BB+ with a "stable" outlook. The affirmations reflect Fitch's view that the group will continue to reduce debt and improve its credit metrics in 2012, the agency said in a statement today. Fitch expects Lafarge's leverage ratio to fall below 4.0x by the end of 2012, a level that would be in line with the current rating. However, Fitch forecasts part of the envisaged EUR500m savings i... |
Lafarge to start Tarmac asset sales by end-June13 June 2012, Published under Cement NewsAnglo American and cement maker Lafarge are likely to begin selling a series of assets as required by UK regulators by the end of the month in order to proceed with a proposed joint venture, Lafarge's chief executive said on Tuesday. The UK’s Competition Commission said last month that the companies had to sell "an extensive package of operations" including one of the country’s largest cement plants, for the planned joint venture to win approval. Reuters quoted Lafarge CEO Bruno Lafont as ... |
Lafarge to accelerate cost cuts, lower debt12 June 2012, Published under Cement NewsFollowing the implementation of its new organisation, Lafarge has announced its 2012 to 2015 plan to cut costs by EUR1.3bn over the next four years and bring its net debt below EUR10bn as early as possible next year. The group is targeting a return on capital of more than eight per cent in 2015. Bruno Lafont, Chairman and Chief Executive Officer of Lafarge, said in a statement: "The plan we are presenting today will quickly drive higher returns for our shareholders, significantly strengthe... |
Lafarge06 June 2012, Published under Cement NewsLafarge's first-quarter turnover improved by 4.6% to €3353m, having advanced by 8.6% in the comparable period last year, and the EBITDA improved by 7.7% to €516m, while the running profit advanced by 28.4% to €267m. Net financial costs increased by 29.4% to €238m and the re-defined pre-tax loss having risen from €7m to €40m, with the net attributable loss rising by 51.7% to €44m. Net debt at the end of March was 13.2% lower at €12,364m, giving a gearing level of 78.4%. Development capital ex... |
Spanish cement woes continue28 May 2012, Published under Cement NewsSpanish cement consumption continues its downward spiral with latest data showing monthly figures hitting a 46-year low as budget austerity and high unemployment continue to inhibit activity. Depressed volumes are now forcing local producers to initiate restructuring and cost-cutting measures as the bottom of the decline is yet to be seen. Following the spectacular burst of the Spanish housing bubble in 1998, the country's residential sector has faced high housing inventory levels and a l... |
Lafarge appoints new US CEO22 May 2012, Published under Cement NewsLafarge has appointed John Stull as president and CEO, United States, putting him in charge of all aggregate, cement and concrete operations in the United States. The appointment now brings these Lafarge business lines in the United States together under a single leader, which the company said will focus its delivery on sustainable solutions to the construction industry. Stull has more than 20 years of experience with the Lafarge Group, including assignments in the United States and Pa... |
Lafarge shares rise on Hollande election07 May 2012, Published under Cement NewsShares in Lafarge are among the top gainers on France’s CAC-40 index as investors expect government spending on social housing to increase under France’s newly elected president, Francois Hollande. Lafarge’s stock rose 2.4%, more than offsetting the sharp drop suffered on Friday following weak US economic data. |
Lafarge helped by Asian and African growth04 May 2012, Published under Cement NewsLafarge's first quarter turnover was up by 4.6% to €3353m, having risen by 8.6% in the comparable period last year, and the EBITDA improved by 7.7% to €516m, while the running profit advanced by 28.4% to €267m. Net financial costs increased by 29.4% to €238m and the re-defined pre-tax loss increased from €7m to €40m, with the net attributable loss rising by 51.7% to €44m. Net debt at the end of March was 13.2% lower at €12,364m, giving a gearing level of 78.4%. Development capital expendit... |