Cement News tagged under: LafargeHolcim
LafargeHolcim’s US$3bn spin-off in the making?30 March 2016, Published under Cement NewsLafargeHolcim 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 markets29 March 2016, Published under Cement NewsLafargeHolcim 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 units22 March 2016, Published under Cement NewsFrench 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 NewsCRH 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... |
Glenwood PE to acquire Lafarge Halla18 March 2016, Published under Cement NewsSouth Korea’s Glenwood Private Equity (PE) has inked a deal to acquire Lafarge Halla Cement Corp. from LafargeHolcim Ltd. for about KRW630bn (US$542m), said the company Thursday. LafargeHolcim said it expects to close the sale of Lafarge Halla, Korea’s fifth-largest cement producer, in the 2Q16, subject to final approvals. The sale follows several other ownership changes in the South Korean cement market as producers battle with slack cement demand resulting in some companies relying on... |
LafargeHolcim: synergies and net debt targets exceeded in 201517 March 2016, Published under Cement NewsLafargeHolcim’s FY15 results show a 4Q15 net loss of CHF2.86bn (US$2.94bn), including CHF3bn impact of asset impairment and other charges. The company’s net debt level was recorded at CHF17.3bn (US$17.8bn), while 4Q15 cash flow was CHF813m (US$839.6m) after adjusting for one-off items of CHF166m. The group’s 4Q15 results were impacted by challenges in the markets of Brazil, Switzerland, China, Indonesia, Zambia, Nigeria and Azerbaijan. Lower CO 2 revenues and adverse foreign exchange movem... |
South Africa: NUM signs one-year wage agreement with LafargeHolcim23 February 2016, Published under Cement NewsSouth Africa's National Union of Mineworkers (NUM) signed a one-year wage agreement with the local unit of cement maker LafargeHolcim, it said on Monday, ending a strike that had just entered its second week. NUM said its members will receive an eight per cent pay increase and other benefits including raises on housing grants and allowances for taking on temporary positions. (Source: Reuters) |
Lafarge halts EUR20m investment in Sagunto plant, Spain17 February 2016, Published under Cement NewsThe management of Lafarge yesterday made public its decision to halt the expansion of its quarry and its plant at Sagunto, Spain, due to “the uncertainty created by the new local government and the lack of viable alternatives,” according to El Mercantil Valenciano. The cement producer had intended to spend around EUR20m in upgrading its plant. In 2013 Lafarge and the town council of Sagunto agreed for the company to accept the limits to the use of its quarrying concession and move to the o... |
ACC full-year volumes impacted by mine closure, slow economic start to year15 February 2016, Published under Cement NewsACC Ltd, part of the LafargeHolcim group, reported a 2.4 per cent decline in 2015 sales volumes to 23.62Mt due to the temporary closure of mines serving its Chaibasa and Bargarh plants in eastern India, and the generally slow pace of the economy earlier in the year. Cement volumes during the final quarter of the year witnessed a turnaround, improving by four per cent YoY to 6Mt. The company’s focus on cost management helped contain overall production costs, despite a contribution to th... |
Glenwood PE & Baring Private Equity Asia reportedly make bid for Lafarge Halla Cement15 February 2016, Published under Cement NewsSouth Korea’s private equity fund Glenwood Private Equity and Hong Kong-based private equity fund Baring Private Equity Asia are to buy Lafarge Halla Cement Corp (South Korea) from LafargeHolcim Ltd for around KRW550bn (US$455.1m), report local media. According to investment bank industry sources on Friday, Glenwood PE, a preferred bidder of Lafarge Halla Cement, has notified LafargeHolcim, the largest shareholder of the Korean cement producer, that it selected Baring Private Equity Asia as... |