Displaying items by tag: Middle East
LafargeHolcim considering options in Middle East and Africa
07 February 2019Switzerland: LafargeHolcim is considering options, including divestments, for its businesses in the Middle East and Africa. Unnamed sources quoted by Bloomberg say that the company has held early talks with advisors about selling assets and it is also looking at an initial public offering (IPO). If it decides to sell its entire business in this region it may seek up to US$8bn. However, the sources thought that finding a buyer at this scale might prove difficult given market conditions. In 2018 the building materials producer operated 44 integrated and cement grinding plants in the region, 30 aggregates plants and 212 ready-mix concrete plants. LafargeHolcim has declined to comment on the report.
LafargeHolcim expands retail network for construction materials in Middle East and Africa
15 June 2017Middle East/Africa: LafargeHolcim is expanding its specialised Binastore retail network for construction materials in Middle East and Africa. The construction materials producer already operates 500 stores in the region that serves end-consumers, self-builders, masons and smaller contractors. The newly-branded network will sell a broad range of LafargeHolcim’s own products and solutions as well as a variety of other construction materials from partner suppliers.
The first stores operating under the Binastore brand have begun to serve customers in Algeria, Cameroon, Iraq and Lebanon. The format of the stores will vary with sizes from 50m2 to 2000m2 and it will also include mobile stores in some rural locations. Existing stores in the region will gradually be rebranded as Binastore, while new stores will also open under this brand.
“Our vision is to build the largest retail network for construction materials in the Middle East Africa region so the Binastore brand becomes a household name for small and medium-size builders. Building on our success in Algeria, our goal is to deliver a range of building products, including our own, through multiple channels to meet the needs and lifestyle of our customers who are becoming more and more sophisticated,” said Saâd Sebbar, Region Head Middle East Africa.
The Binastore network is part of LafargeHolcim’s long-term strategy of expanding its retail business in emerging markets. In April 2017, the group announced the rollout of Disensa, a similar concept, in Latin America, where the goal is to have a network of around 1000 stores operating by the end of 2017.