Cement News tagged under: Lafarge

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Algeria: Lafarge-Souakri plant operational in August

18 May 2015, Published under Cement News

Lafarge Algeria and Souakri’s joint venture, the 2.7Mta Biskra cement works, is expected to deliver its first bag of cement in August 2015, according to Eric Meuriot, head of Lafarge Algeria. Full production is scheduled for 2016. Biskra is the fourth plant operated by Lafarge Algeria, which also owns plants at M’sila (5Mta) and Mascara (3Mta). In addition, the France-based cement producer also partners with Groupe Public Industries Ciments d’Algérie (GICA) in the running of the 1Mta Meft...

Aboitiz plans to buy Lafarge Philippines assets

15 May 2015, Published under Cement News

Philippine conglomerate Aboitiz Equity Ventures Inc said on Friday it had signed an agreement for a possible acquisition of Lafarge's local cement operations in partnership with CRH Plc. CRH had earlier agreed to buy for EUR6.5bn cement assets from Lafarge and Holcim Ltd., whose asset divestments are part of preconditions to winning regulatory approval for their merger. Both Lafarge and Holcim have cement assets in the Philippines. Aboitiz, which has investments in power generation and ban...

Ashaka 1Q pretax profit down 59%, Nigeria

13 May 2015, Published under Cement News

Nigeria's Ashaka Cement first-quarter pretax profit fell 58.8 per cent to NGN1.16bn (US$5.8m) from a year ago, the company said on Monday. The decline was partly attributed to a fall in sales and a contraction in gross margin. Revenue fell to NGN4.56bn during the three months to end-March, down from NGN6.5bn in the previous year, the local unit of Lafarge Cement said in a stock exchange filing.

Lafarge Mahaweli Cement on track with housing programme, Sri Lanka

13 May 2015, Published under Cement News

Lafarge Mahaweli Cement is on schedule with its ‘Savi Piyasa’ housing programme and has now partnered with nine leading brands in the construction sector and two commercial banks to add value to its technical assistance scheme for individual home builders. Under its ‘Building better cities’ initiative Lafarge is targetting housing programmes that are accessible to everyone and infrastructures that stand the test of time and protect the environment, as well as bridges, roads and airports th...

Holcim files Lafarge stock exchange offer

12 May 2015, Published under Cement News

Holcim Ltd said on Monday it has filed with the French financial market regulator details of its proposed share exchange with Lafarge. The offer allows Lafarge shareholders to exchange all shares in the Paris-based company for newly created shares in Holcim. The exchange ratio is 10 Lafarge shares for nine shares in Holcim. Two thirds of Lafarge's 293 million shares have to be offered up by shareholders for the deal to go ahead. The offer is due to open on 1 June and run until 3 July...

Holcim shareholders back all motions for proposed merger

11 May 2015, Published under Cement News

Lafarge and Holcim have today successfully secured support from Holcim shareholders for their proposed merger and completed one of the final key steps on their way to creating a global building materials giant. Representing around 72 per cent of the company’s share capital, the 738 shareholders attending the Extraordinary General Meeting of Holcim Ltd approved all motions proposed by the Board of Directors. Wolfgang Reitzle, currently Chairman of Holcim and future Co-Chairman (statutory Cha...

LH clearance received in US and Canada

05 May 2015, Published under Cement News

Lafarge and Holcim have received final approval for their proposed merger from the competition authorities in the USA and Canada. All competition approvals necessary for closing the transaction have now been obtained ahead of the expected closing in July 2015. Following the regulatory assessment in all key jurisdictions, Holcim and Lafarge can now present a final list of divestments to satisfy regulatory requirements. These divestments remain subject to the completion of the merger,...

LH Merger nears completion

01 May 2015, Published under Cement News

As Holcim’s shareholders prepare to meet next Friday to vote on the planned merger with Lafarge, will the confirmed support of Eurocement and a better than expected 1Q15 performance by Lafarge be enough to seal the deal? The planned EUR41bn tie-up between the world's two leading cement majors – billed as a “merger of equals” – was thrown into doubt in March as Holcim demanded new terms, stating that the deal “could no longer be pursued in its present form.” Holcim investors had wat...

Lafarge sees growth in the Middle East & Africa

30 April 2015, Published under Cement News

Lafarge's first quarter turnover increased by 5.5 per cent to €2779m and EBITDA rose by 17.5 per cent to €403m, while the running profit advanced by 40.4 per cent to €205m. Net financial costs were reduced by 18.1 per cent to €190m but the pre-tax loss declined from €101m to €99m, with the net attributable loss declining by 28.9 per cent to €96m. Net debt at the end of March was 1.5 per cent lower at €9803m, giving a gearing level of 59.2 per cent. Cement deliveries in the quarter were dow...

Eurocement backs Holcim-Lafarge merger

30 April 2015, Published under Cement News

Eurocement Holding AG, Holcim Ltd's second-largest shareholder, said it supports the Swiss cement maker's planned merger with Lafarge SA . "Having analysed all advantages and disadvantages of a possible creation of the biggest global construction materials player we think that the prospective of the development of the combined company is very positive, so we will support the merger," Eurocement said in a statement. Eurocement, which has a 10.8 per cent stake in Holcim, said it intends to k...