Cement News tagged under: Lafarge
High court halts Lafarge plans to close Frangey site, France13 March 2012, Published under Cement NewsThe French High Court has blocked Lafarge’s plan to close its plant in Frangey, northern France until 25 November 2012. SeeNews France reports that the court has also annulled the group’s restructuring plan, but said the economic reasons for halting activity at the site were valid. Lafarge management will propose to staff representatives to resume negotiations for a new restructuring plan starting from November 2012. The Frangey facility employs 74. The Lafarge group had said its decisio... |
Competition Commission settles with Lafarge, South Africa09 March 2012, Published under Cement NewsSouth Africa’s Competition Commission has reached a settlement with Lafarge for being part of cement cartel. Lafarge is to pay an administrative penalty of ZAR149m, or six per cent of its 2010 turnover in the South African Customs Union (South Africa, Botswana, Lesotho, Swaziland and Nambia). The agreement follows a settlement reached by the Commission with AfriSam which will pay a fine of ZAR125m, or three per cent of its turnover in the same period. The commission has now vowed to purs... |
Natixis reiterates Lafarge “buy” recommendation28 February 2012, Published under Cement NewsNatixis has confirmed its “buy” recommendation and EUR40 share price target on Lafarge. The broker said it is confident of the company’s ability to achieve its 2012 goals and reduce debt through increased cash flow and asset sales, SeeNews France reported. Earlier this year Lafarge said it plans to cut 460 jobs worldwide as part of its reorganisation strategy. Under the project, it will replace its current product-line based organisation with country-based structure. During the relea... |
Lafarge-Tarmac tie-up challenged on competition grounds, UK21 February 2012, Published under Cement NewsThe planned merger between Lafarge and Tarmac has been called into question by the UK’s Competition Commission (CC) on grounds that the tie-up could damage competition in both the bulk cement and other construction materials markets. In February 2011, Lafarge and Tarmac announced their agreement to combine their cement, aggregates, ready-mixed concrete, asphalt and contracting businesses in the United Kingdom, comprising Tarmac Limited and Lafarge Cement UK, Lafarge Aggregates and Concret... |
Lafarge meets debt reduction target, net profit falls17 February 2012, Published under Cement NewsLafarge reported a 28 per cent decline in net profit in 2011 reflecting write-offs mainly in Greece, while sales rose three per cent. For 2012, the group sees cement demand edging higher and has pledged to continue slashing debt. Current operating income grew three per cent in the fourth quarter to €538m from higher sales volumes, higher pricing, and cost cutting measures. For the year, higher cost inflation and the negative impact of foreign exchange lowered overall results. Net prof... |
Lafarge Jordan appoints New CEO16 February 2012, Published under Cement NewsLafarge Group announced the appointment of Toufic Ahmed Tabbara as CEO for Lafarge Jordan, both Cement and Concrete. Tabbara will take on his new position in February 2012, after having assumed a number of positions across Lafarge Group in several countries. “I am very pleased with my new responsibilities as CEO and I hope to carry forward Lafarge Jordan’s longstanding history in contributing to the economy, community and society at large. I am very eager to support the Company in leverag... |
Babcock to manage Lafarge fleet, North America10 February 2012, Published under Cement NewsLafarge has awarded Babcock International a UK£100m fleet management contract across its cement and aggregates sites in North America. The 10-year deal sees Babock providing a fleet managed serviced for Lafarge’s heavy mobile equipment. It follows the UK£50m fleet management contract that Babcock was awarded by Lafarge covering the UK aggregate and cement sites last July. Babcock is delivering the whole lifecycle of fleet management in the contract, from procuring and supporting the equipm... |
Morgan Stanley lifts Lafarge price target08 February 2012, Published under Cement NewsMorgan Stanley has lifted the share price target of Lafarge from EUR36 to EUR42 and assigned an ‘equal-weight’ recommendations. Analysts at Morgan Stanley see optimistic prospects for the sector, reports SeeNews France, which increases its attractiveness. Last week Lafarge said it planned to cut 460 jobs worldwide as part of its reorganization plan presented on 21 November. Under the plan, the company will replace its current produt line-based organisation with a country-based structure. |
Lafarge to cut 460 jobs globally03 February 2012, Published under Cement NewsLafarge, said it would cut 460 jobs globally as part of a corporate restructure. The French company said 90 roles would go in France, with the others stripped out of worldwide corporate functions, according to reports in the Daily Telegraph. |
New Lafarge Romania CEO02 February 2012, Published under Cement NewsLafarge’s Romania unit has announced that Sonia Artinian has been appointed its country CEO as of 1 January 2012. Ms Artinian is responsible for Lafarge’s cement, aggregates and concrete business in Romania, Lafarge Romania said in a press release on Tuesday. Ms Artinian has worked for Lafarge since 2008. She replaces Philippe Questiaux, who had managed Lafarge’s cement activity in Romania for 10 years, the company added. |