Cement News tagged under: Lafarge
Lafarge evacutes Syrian factory amid security concerns26 September 2014, Published under Cement NewsLafarge said Thursday it has evacuated its Syrian factory and halted all operations there indefinitely there amid security concerns. Lafarge operates a 3Mta factory in Ein Al-Arab, about 160km northeast of Aleppo, near the Turkish border, an area where the US has carried out air strikes against Islamic State militants. The plant was evacuated on 18 September 2014 and all operations have been halted until workers' security can be guaranteed, a spokeswoman said. Islamic State took ... |
Sabanci Holding eyes LafargeHolcim assets24 September 2014, Published under Cement NewsTurkish conglomerate Sabanci Holding plans to bid for some of the assets Lafarge and Holcim must sell to receive approval from competition watchdogs ahead of its planned merger, a source with knowledge of the deal told Reuters. Sabanci is aiming for growth through acquisitions and said in March that it plans to spend TRL1-1.5bn (US$448-672m) on such investments. "Preparations are being made for a bid in December," the source said, adding that Sabanci is interested mainly in European busine... |
Elementia: Fortaleza brand to register 20% growth in 2014-1524 September 2014, Published under Cement NewsDespite a slow market, Mexico’s Cementos Fortaleza expects to close 2014 and 2015 with growth. Antonio Taracena, director general at Elementia, owner of the Fortaleza brand, attributes the growth due to the new brand. Although sales are forecast to rise by barely one per cent in Mexico this year, Elementia – owned by Carlos Slim and Antonio del Valle – expects to show 20 per cent growth by end-2014, and predicts the same level for 2015. "We will grow another 20 per cent, as in this ye... |
Mexico: Lafarge sells its minority stake in Elementia22 September 2014, Published under Cement NewsLafarge announces the sale of its 47 per cent minority stake in its cement operations in Mexico to Elementia for a cash consideration of US$225m (EUR175m). The joint venture between Lafarge and Elementia operates three cement plants in central Mexico, close to the capital city. This divestment will contribute to Lafarge's objective to reduce net debt. This transaction is subject to the approval of relevant authorities and customary closing conditions. |
CRH to compete for Lafarge and Holcim assets19 September 2014, Published under Cement NewsIrish building materials manufacturer CRH plc is considering making an offer to purchase the assets that might stand in the way of the merger of Lafarge and Holcim, industry sources told Reuters. It was not reported which assets that the Irish firm might be keen to purchase. Following the announcement of their giant merger and in an effort to avoid regulatory problems, Lafarge and Holcm will have to shed some of their assets, which in turn could be of interest to competitor CRH, Reuters exp... |
Seychelles: Lafarge to open 4000t cement silo19 September 2014, Published under Cement NewsLafarge is developing a 4000t cement silo in the Seychelles in partnership with Sri Lankan engineering company Dynamic Technologies. The structure will be built in Sri Lanka and shipped to the Indian Ocean island. The France-based cement producer and the engineering company developed a similar facility in Mayotte earlier this year. |
Lafarge to sell Russian plant to Buzzi Unicem16 September 2014, Published under Cement NewsBuzzi Unicem, through its fully-owned subsidiary Dyckerhoff GmbH, has reached an agreement to acquire a 100 per cent interest in Lafarge's UralCement plant in Russia for an enterprise value of EUR104m. The 1.1Mta wet-process plant is located in the town of Korkino, some 40km south of Chelyabinks. The transaction is subject to authorisation from relevant authorities. The divestment will contribute to Lafarge's objective to reduce net debt, the French cement major said in statement release... |
Morocco: Lafarge turnover slips 2.1% in 1H1416 September 2014, Published under Cement NewsLafarge’s Moroccan subsidiary, Lafarge Ciments, saw turnover in 1H14 slip by 2.1 per cent to MAD2.56bn (US$298m) as prices and a favourable product mix only partially offset by 3.6 per cent a 4.4 per cent decline in sales. Consolidated net income was down 5.1 per cent to MAD725m. For the second part of the year, cement demand is expected to remain weak and Lafarge is forecast to see its turnover down 1.5 per cent. |
Ashaka Cement stake changes hands11 September 2014, Published under Cement NewsLafarge Group has sold 58.61 per cent of its stakes in Ashaka Cement Plc to Lafarge Africa Plc in a deal valued at NGN41bn (US$252m). Lafarge sold 1.3bn ordinary shares of its Ashaka Cement at NGN30.95 each. The sale follows the company's decision to merge its Nigerian and South African assets into a single unit, Lafarge Africa Plc. In creating Lafarge Africa, the group will sell the entirety of its 72.4 per cent stake in South African unit while relinquishing control of equity stake in... |
Unacem plans to invest US$58m in 201509 September 2014, Published under Cement NewsPeru's Unacem intends to invest US$58m in its Atocongo and Condorcocho works next year. The projects focus on the development of the Carpapata III hydropower plant, the cement mill and packing area (Condorcocha) as well as capacity expansions and other investments in fixed assets. This year, investments in its subsidiaries total US$545m as it signed a deal with Lafarge to acquire the latter's Ecuadorian cement subsidiary in June. Lafarge sales in the country are expected to reach US$190m.... |