Cement News tagged under: LafargeHolcim

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Russia's Sberbank sells 6.12% stake in LafargeHolcim

08 February 2016, Published under Cement News

Russia's Sberbank confirmed on Friday it had sold a 6.12 per cent stake in LafargeHolcim to a group of foreign investors. Sberbank acquired a 6.12 per cent stake in LafargeHolcim in January from Eurocement Holding AG as part of a repurchase agreement.

LafargeHolcim considering revised divestment plan in India

04 February 2016, Published under Cement News

LafargeHolcim confirmed today that it is considering a divestment of its interest in Lafarge India with a cement capacity of around 11Mta. The divestment would require the approval of the Competition Commission of India (CCI) as an alternative remedy for the merger of the group’s legacy companies. The company said  in a statement that it is no longer in discussion with Birla Corporation Limited (BCL) for the sale of the Jojobera and Sonadih cement plants in eastern India announced last yea...

Havre and La Couronne units to become grinding centres

03 February 2016, Published under Cement News

As part of the restructuring following the merger LafargeHolcim will be closing down cement production at the Havre and La Couronne cement works in France. Havre will be converted into a grinding station with 31 staff (compared with the current 152) while La Couronne will become a grinding unit with 27 staff. Last week, Eric Olsen, LafargeHolcim CEO, said the company was planning to close down some of its plants as capacity utilisation was currently around two-thirds, well below targe...

China: Huaxin issues profit warning

02 February 2016, Published under Cement News

Huaxin Cement, LafargeHolcim’s subsidiary in China, has warned that it expects 2015 net profit to fall 90-95 per cent YoY due to weak domestic demand, intense competition and a sharp fall in cement prices. JP Morgan’s China cement research team estimates that cement prices in Huaxin’s key markets declined by five per cent QoQ in 1Q16 to-date to CNY254/t. The research house also notes that LafargeHolcim aims to restructure its China operations by integrating the management teams of Huaxin ...

LafargeHolcim: Reitzle to return to Linde?

02 February 2016, Published under Cement News

LafargeHolcim’s current president, Wolfgang Reitzle, could be returning to Germany-based gas producer Linde to become head of the Supervisory Board after the mandatory two-year waiting period which ends on 20 May 2016, according to the Süddeutsche Zeitung. Mr Reitzle was CEO of Linde between 2003-14 and turned the gas and equipment supplier to a world market leader. However, his appointments to the Supervisory Boards of Continental, Springer, Hawesko and Medical Park could prove an issue fo...

Cemengal announces start up of Zambian grinding installation

02 February 2016, Published under Cement News

Cemengal has completed the installation of a Plug&Grind® unit in Zambia for LafargeHolcim. The inauguration ceremony was undertaken in the presence of Ministry of Labor, accompanied by the managers of LafargeHolcim Zambia and other managers from the group in surrounding countries. The plant will produce Supaset which will be exported to the DR of Congo and other neighbouring countries, Lafarge Zambia CEO, Emmanuel Rigaux, told the Lusaka Times. The grinding facility will produce 100,000tp...

LH confirms Sberbank shareholding

27 January 2016, Published under Cement News

LafargeHolcim Ltd said in a statement yesterday that it was informed on 25 January 2016 by Sberbank of Russia that it holds, through a repurchase transaction with Eurocement Holding AG, 6.12 per cent of the voting rights and of the registered share capital of LafargeHolcim Ltd. This corresponds to 37,172,910 registered shares and voting rights. According to the declaration of Sberbank of Russia, the Stock Exchange Act threshold of five per cent was exceeded on 21 January 2016.

Russian Sberbank gets 6% of LH from Eurocement in repurchase deal

25 January 2016, Published under Cement News

Sberbank CIB, the investment banking arm of Russian lender Sberbank, announced on Friday it now holds six per cent of LafargeHolcim following a repurchase deal with Russian Eurocement Holding. Under the terms of the agreement, the investment arm had organised financing for Eurocement Holding AG in return for 37m shares in LafargeHolcim. Eurocement has the right to buy back the shares at a specific price and on a certain date. The agreement was implemented on 21 January, the statement sa...

LafargeHolcim planning potential disposal in South Korea

22 January 2016, Published under Cement News

Glenwood Private Equity is in talks to buy South Korea-based Lafarge Halla Cement in cooperation with Eugene Group, the country’s largest ready-mixed concrete manufacturer, and Sungshin Cement, another Korean cement maker. According to sources on Wednesday, LafargeHolcim Ltd, the majority shareholder of Lafarge Halla Cement, recently named Glenwood Private Equity as a preferred bidder for the cement business. The deal is estimated to be valued at somewhere between KRW500-600bn (US$417m-500...

LH and CDC: low-carbon construction solution

23 December 2015, Published under Cement News

LafargeHolcim and CDC Group plc (CDC), the UK’s development finance institution, have signed a Memorandum of Understanding to set up a company to produce and promote an affordable low-carbon construction solution for developing countries. The new company aims at scaling-up production of earth-cement bricks, a simple, reliable, affordable and environmentally-friendly building material that was launched by LafargeHolcim in Malawi in 2013. Deforestation and forest degradation account for the ...