Displaying items by tag: LafargeHolcim
Investigators question Lafarge Syria workers
21 September 2017France: French investigators have interviewed three former Lafarge Syria workers as part of an inquiry in to the company’s conduct in Syria. A computer worker, an engineer and packing line worker at one of the company’s cement plants travelled from Syria to be questioned, according to the Agence France Presse. The trio are the first witnesses to be called by the judicial inquiry that started in June 2017. It is investigating whether the subsidiary of Lafarge indirectly paid armed groups, including the ‘Islamic State’ group, to keep its plant during the Syrian Civil War.
Four bidders shortlisted for purchase of Halla Cement
19 September 2017South Korea: Four companies have been shortlisted to buy a full stake in Halla Cement. Asia Cement, Sungshin Cement, Aju Corporation and LK Investment Partners are all contenders for the sale, according to sources quoted by the Maeil Business Newspaper. Six investors submitted preliminary bids for the cement producer and Halla Cement’s largest shareholder Baring Private Equity Asia and its sales advisor Citigroup Global Market Securities Korea chose the final selection.
The shortlisted companies will have up to six weeks to conduct due diligence procedures before submitting final bids in early November 2017. The seller intends to pick a final bidder by mid-November 2017.
Baring Private Equity Asia and Glenwood Private Equity bought Lafarge Halla Cement from LafargeHolcim in mid-2016 for Euro427m.
LafargeHolcim deal boosts freight rates for Zambia Railways
19 September 2017Zambia: A contract with LafageHolcim has boosted Zambia Railways freight rate by 28% year-on-year to 318,000t in the first half of 2017 from 247,000t in the same period of 2016. The railway company attributed the increase to a new contract with LafargeHolcim, according to the Zambia Daily Mail newspaper. It also cited rising coal imports from Zimbabwe for ‘booming’ cement production in Zambia, as well as more business in the Democratic Republic of Congo.
Two workers killed at Ambuja Cement’s Bhatapara plant
18 September 2017India: Two workers have died in an accident at Ambuja Cement’s Bhatapara plant in Baloda Bazar Tehsil, Chhattisgarh. Five labourers were inside a crushing mill at the site making repairs when it suddenly started operating, according to the Press Trust of India. Two of the workers, identified as Dhirendra Verma and Dilip Kumar Verma, came in contact with the machine leaving them with critical injuries. They subsequently died in hospital. A police investigation is underway.
Rossen Papazov appointed as country chief for Lafarge South Africa
13 September 2017South Africa: Lafarge South Africa has appointed Rossen Papazov as its country chief executive officer (CEO). Papazov will join the company with effect from 1 October 2017, according to Business Report. He has been the country head for Holcim in Azerbaijan for the last four years. Prior to this he originally joined Holcim in 2000 as its Business Development Manager for Bulgaria. He has also held roles in Belgium and Romania.
Holcim US proposes solar unit for Hagerstown cement plant
11 September 2017US: Holcim US has proposed a 10MW solar unit for its Hagerstown cement plant in Maryland. NRG Solar Hagerstown, a subsidiary of NRG Energy, will build the array and lease the site for 35 years, according to Herald-Mail Media. The solar unit could meet up to 20% of the plant’s annual power requirements and the project is expected to last for at least 20 years. Construction is scheduled to start in the second quarter of 2018 and it is planned to last up to five months. No value for the project has been disclosed.
Huaxin Cement’s half year results bounce off higher prices
01 September 2017China: Huaxin Cement’s sales revenue rose by 63% year-on-year to US$1.43bn in the first half of 2017 from US$874m in the same period of 2016. It attributed the growth to an increase in the price of cement. The cement producer also benefited from its acquisition of Lafarge China Cement’s plants in Yunan, Guizhou and Chongqing. During the reporting period its cement and clinker sales rose by 33% to 31.8Mt.
European Bank for Reconstruction and Development declines to increase share in Holcim Azerbaijan
24 August 2017Azerbaijan: The Board of Directors of the European Bank for Reconstruction and Development (EBRD) has declined to increase its participation share in the capital of Holcim Azerbaijan to 20%. No reason for the refusal has been disclosed. The bank currently holds a 10% share in the cement producer, according to Trend News Agency. The EBRD has been considering increasing its share in the cement producer since mid-2016. It said that it would continue its support in the development of Azerbaijan’s non-oil sector. Holcim Azerbaijan’s main shareholder is LafargeHolcim. It owns a 66% of the company. The bank expects government infrastructure projects to pick up the sector in the medium to long term.
Residents oppose Brookfield tyre plan
17 August 2017Canada: A group of residents close to the Lafarge Canada Brookfield plant has launched a court challenge arguing the Nova Scotia government's approval of a plan to burn tyres as an alternative fuel at the plant violated the Environment Act.
In his application for a judicial review, lawyer William Mahody wrote that Environment Minister Iain Rankin didn't properly assess the impact of emissions from the Lafarge plant in Brookfield on surrounding areas, stating that was a ‘strong potential for adverse effects’ on surface water, human health and wildlife from the project. The plan has run into criticism from environmental groups, municipal councils and area residents, who prevented a similar proposal a decade ago.
Nova Scotia’s waste diversion agency has shifted a supply of at least 280,000 tyres per year to Lafarge and recently approved the company's environmental application for a one-year pilot project to incinerate the tyres as fuel.
Lafarge says it can't comment on the judicial review. However, Robert Cumming, the environmental director at Lafarge, says research conducted off-site by a Dalhousie University engineer suggests the use of scrap tyres will lower the plant's CO2 emissions. "Our pilot project seeks to validate this evidence gathered from scientific reports and in Dalhousie University laboratories. The research team and Lafarge have committed to sharing the results with the community."
LafargeHolcim sells up in North Korea
17 August 2017North Korea: LafargeHolcim has sold its 36% stake in Sangwon Cement Company. The company had held the stake in the plant since 2008, having entered the North Korean market via its Euro8.8bn acquisition of Egypt’s Orascom. Orascom acquired the stake a year earlier. LafargeHolcim did not have managerial control or significant influence over Sangwon Cement.