Cement News tagged under: LafargeHolcim

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LafargeHolcim considering Vietnam exit

25 April 2016, Published under Cement News

LafargeHolcim Group, a joint venture between Swiss Holcim Ltd. and French Lafarge Group, may withdraw from Vietnam due to oversupply of cement in the domestic market, said Nguyen Cong Bao, general director of Holcim Vietnam, a subsidiary of Holcim Ltd. The group had a meeting with the Vietnamese Ministry of Construction to notify of the group’ business plans in Vietnam for the coming time, Mr. Bao was quoted by Dau Tu newspaper as saying Wednesday. According to the newspaper, Vietnam Cemen...

India: LafargeHolcim sale temporarily halted by court

18 April 2016, Published under Cement News

The sale of 11Mta of LafargeHolciim assets in India has been put on hold by India's Competition Appellate Tribunal. According to Mint an appeal has been lodged by Dalmia Cement (Bharat) Ltd. against the Competition Commission of India’s decision ordering the divestment of Lafarge India. The tribunal's decision will delay the sale process by at least three weeks, until May 9. Last week saw the close of bidding for the assets - three integrated plants and two grinding plants with a combi...

Beat Hess is nominated as LafargeHolcim's new chairman

15 April 2016, Published under Cement News

LafargeHolcim's Board of Directors has proposed to the Annual General Meeting of 12 May 2016 the election of Beat Hess as the new group chairman. He will be succeeding Wolfgang Reitzle, who has been chairman for two election periods and a member of the Board of Directors since April 2012. The Board of Directors would like to thank Wolfgang Reitzle for his valuable service to the group as well as all his efforts and contributions, which were instrumental for the completion of the LafargeHolci...

Ten bidders chase LafargeHolcim Indian assets

14 April 2016, Published under Cement News

The sale of LafargeHolcim's Indian operations has attracted considerable interest, with the company having received bids from 10 groups interested in buying the assets. According to India's Economic Times, JSW Cement, Blackstone and Ramco Cements have all submitted bids, while the Irish Times notes that CRH, Piramal Group and Carlyle Group are also in the running. LafargeHolcim is selling three integrated plants and two grinding plants with a combined capacity of 11Mta, valued at aroun...

Deadline nears for LafargeHolcim India assets bids

05 April 2016, Published under Cement News

Advisors to the sale of LafargeHolcim's 11Mta Indian cement production capacity say that they expect to receive seven to eight bids before next week's deadline. The sale - which was a required by competition authorities - has attracted the attention of a number of private equity firms. According to reports by India’s Mint newspaper, Temasek Holdings, Advent International, Barings Asia Private Equity, Blackstone, Aion Capital and the investment arm of Piramal Group are all evaluating the d...

Spain: LafargeHolcim to seek different quarry area for Sagunto

05 April 2016, Published under Cement News

Teresa Garcia, environment councillor for the town of Sagunto, Spain, is advising LafargeHolcim to “consider other options” for a new quarry as the coveted area in Pinyal is “an important forest area and head of basin that must be protected.” She also referred to the Valencia Territorial Strategy to support her decision. The original decision, signed in 2009, gave the company the option to open a new quarry in the area to guarantee its future extraction of raw materials and operation of it...

LafargeHolcim’s US$3bn spin-off in the making?

30 March 2016, Published under Cement News

LafargeHolcim is reported to have chosen Citi and JP Morgan to explore the sale of its US$3bn Australasian operations, according to the Business Spectator. The news follows Dataroom’s disclosure that the company had been considering a potential spin-off of its Australian and New Zealand assets. The move would help to pay for the US$50bn global merger of Lafarge and Holcim in 2014. Both Citi and JPMorgan are understood to be among the banks funding that transaction at the time, and whil...

LafargeHolcim to target emerging markets

29 March 2016, Published under Cement News

LafargeHolcim Ltd is confident that a rally will continue in emerging markets this year. Higher cement buying in countries such as India, Indonesia, the Philippines and Vietnam is offsetting slower growth in China, leaving LafargeHolcim CEO, Eric Olsen, optimistic about continued expansion in markets that represent about 55 per cent of his company’s footprint. Indonesia is certainly one country where the comapny is aiming to thrive. PT Holcim Indonesia has lent IDR200bn (US$3bn)  to affil...

Lafarge India initiates sale of cement units

22 March 2016, Published under Cement News

French cement-maker Lafarge's India arm has initiated the process of sale of its India business with the appointment of two investment bankers. The business comprising cements plants with a production capacity of 11Mta is valued at about INR110bn (US$1.647bn), the Business Standard reported. Piramal Enterprises, JSW Cement, CRH, KKR and Blackstone are cited as likely buyers, according to the paper. Last month, Lafarge India's entire India business was put on the market after a failed deal...

LafargeHolcim brands CRH purchase write-down claims "without merit"

21 March 2016, Published under Cement News

CRH is disputing the value of the assets it purchased in February last year as part of the requirement from competition regulators to allow the creation of LafargeHolcim. The EUR6.5bn price paid by CRH is now under scrutiny, according to Reuters. In its annual report, published last week, LafargeHolcim stated: " LafargeHolcim has received from CRH several notices claiming a reduction of the purchase price. LafargeHolcim is contesting those claims. "In view of the information availab...