Cement News tagged under: Lafarge
Trbovlje council expresses support for Lafarge, Slovenia29 March 2012, Published under Cement NewsThe Trbovlje city council has expressed its support for Lafarge’s Slovenia unit as the cement producer is reorganising and reducing staff after it was stripped of its environmental permit for waste burning in November 2011. Lafarge Cement spokesman, Andrej Sopotnik, told the Slovenska Tiskovna Agencija that the company has so far reduced the number of workers through from 180 to 120. The reorganisation plan envisages laying off some 60 additional workers but this number is still to be confi... |
Lafarge CEO to visit Bangladesh21 March 2012, Published under Cement NewsBruno Lafont, Chairman and CEO of the Lafarge Group, is set to arrive in Dhaka, Bangladesh, today to review operations of its local subsidiary Lafarge Surma Cement. An official of the Lafarge Group of France told CemNet News that Mr Lafont will travel to Bangladesh following a trip to India where he is also reviewing the company's operations in the neighbouring country. During the Bangladesh visit, Mr Lafont is plans to review LSC's business and strategies and is scheduled to visit LS... |
Lafarge to expand Indian operations21 March 2012, Published under Cement NewsLafarge is expanding its operations in India but says it will do so organically and isn't considering any acquisitions at present, Chairman Bruno Lafont said Tuesday. "We will continue to grow, mostly through internal growth and by expanding our existing cement plants and growing through several greenfield plants," Lafont told reporters on the sidelines of an event. He said the company will continue with its program to increase production capacity in India by 2Mta but no completion da... |
Lafarge extends EUR1.2bn credit facility, France20 March 2012, Published under Cement NewsLafarge said Tuesday it has extended its syndicated credit facility by two years from July 2013 to July 2015 for a total amount of EUR1.2bn. The extended facility supported by 24 lenders complements Lafarge’s bilateral lines of EUR2.2bn and brings total committed credit facilities to EUR3.4bn, Dow Jones reports. In total, these lines have an average maturity of 2.8 years and do not include any default clauses linked to financial covenants, credit ratings or Material Adverse Change (MAC). |
Lamarche to be named on Lafarge's board20 March 2012, Published under Cement NewsGerard Lamarche, managing director of Groupe Bruxelles Lambert, will be named on the board of French cement maker Lafarge. He will replace Thierry de Rudder. Lamarche, 50, graduated from the University of Louvain-la-Neuve in Belgium. He also completed the advanced management programme at the INSEAD Business School. Abstracted from an original article in Le Figaro. |
Lafarge to close kiln line at Joppa Cement, USA16 March 2012, Published under Cement NewsLafarge has shut down Kiln Line No 2 at its Joppa cement plant, Illinois, USA, citing the continued challenging economic environment as the reason for shutting down one of its two kilns. The company will continue to operate the plant and its associated Cave-In-Rock Quarry and manufacture specialty well cement on its Kiln 1. Lafarge has "The shutdown was due to the state of the economy and the weak demand for cement, " said Louis Derose-Environmental and Public Relations Manager-Lafarg... |
S&P revises down Lafarge outlook to ‘negative’14 March 2012, Published under Cement NewsStandard & Poor’s (S&P) has revised its outlook on Lafarge from ‘negative’ to ‘stable’ while keeping its BB+ long-term and B short-term credit ratings on the French cement producer. A revision to the outlook is possible, the ratings agency has said. S&P stated that the group may not be able to improve credit metrics in 2012 from the very weak levels registered at the end of 2011. The agency noted that Lafarge’s earnings declined in 2011 due to a difficult operating environment which saw ri... |
High court halts Lafarge plans to close Frangey site, France13 March 2012, Published under Cement NewsThe French High Court has blocked Lafarge’s plan to close its plant in Frangey, northern France until 25 November 2012. SeeNews France reports that the court has also annulled the group’s restructuring plan, but said the economic reasons for halting activity at the site were valid. Lafarge management will propose to staff representatives to resume negotiations for a new restructuring plan starting from November 2012. The Frangey facility employs 74. The Lafarge group had said its decisio... |
Competition Commission settles with Lafarge, South Africa09 March 2012, Published under Cement NewsSouth Africa’s Competition Commission has reached a settlement with Lafarge for being part of cement cartel. Lafarge is to pay an administrative penalty of ZAR149m, or six per cent of its 2010 turnover in the South African Customs Union (South Africa, Botswana, Lesotho, Swaziland and Nambia). The agreement follows a settlement reached by the Commission with AfriSam which will pay a fine of ZAR125m, or three per cent of its turnover in the same period. The commission has now vowed to purs... |
Natixis reiterates Lafarge “buy” recommendation28 February 2012, Published under Cement NewsNatixis has confirmed its “buy” recommendation and EUR40 share price target on Lafarge. The broker said it is confident of the company’s ability to achieve its 2012 goals and reduce debt through increased cash flow and asset sales, SeeNews France reported. Earlier this year Lafarge said it plans to cut 460 jobs worldwide as part of its reorganisation strategy. Under the project, it will replace its current product-line based organisation with country-based structure. During the relea... |