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European Bank for Reconstruction and Development to increase stake in Holcim Azerbaijan cement factory to 20% 22 June 2016
Azerbaijan: The European Bank for Reconstruction and Development (EBRD) plans to increase its stake in Holcim Azerbaijan to 20% from 10%.
"The EBRD is considering an additional investment in Holcim OJSC to increase the bank's stake in the company, with a view to extend its participation in the business," the EBRD said in a statement. The bank intends to support the company’s energy efficiency through the use of alternative fuels. On 20 July 2016 the EBRD board of directors will start a preliminary review of the issue of increasing the stake in Holcim Azerbaijan.
Holcim Azerbaijan produces 35 - 40% of Azerbaijan's cement and clinker. The company's main shareholders are LafargeHolcim (66%), EBRD (10%) and Holcim Auslandbeteiligungs GmbH (10%).
Australia: Adelaide Brighton says it has prepared for an acquisition of the operations of LafargeHolcim in Australia and New Zealand. Chief executive Martin Brydon confirmed the plans to The Australian newspaper. He added that the plan includes measures to cope with competition issues that could arise from the takeover. However, Brydon admitted that LafargeHolcim has not declared if it is actually selling its assets in the region.
Syria: LafargeHolcim has dodged accusations by La Monde that Lafarge entered into deals with armed groups in Syria, including Islamic State (IS), to protect its business interests in the country. In a statement LafargeHolcim said that its first priority was the safety and security of its employees at its Jalabiyeh cement plant before it eventually closed the plant. It did not deny the accusations.
Le Monde reported it had seen letters sent by Lafarge managers in Syria revealing arrangements that Lafarge made with the jihadist group to continue production until 19 September 2014 and to arrange access for staff and supplies. The French newspaper also alleges that Lafarge bought licences from and paid taxes to IS middle-men and oil traders.
Lafarge operated the 3Mt/yr Jalabiyeh cement plant from 2010 to 2014. In September 2014, Lafarge stopped operating the plant. After that, all employees were evacuated, put on paid leave and were no longer allowed to access the plant. In December 2014 Lafarge decided to terminate all employee contracts, and where possible, transfer employees to other parts of the group.
US: HGH Infrared Systems, the American subsidiary of HGH Systemes Infrarouges (HGH), based in Boston, Massachusetts, has just acquired Electro Optical Industries (EOI), based in Santa Barbara, in California. The new entity will be named Electro Optical Industries Inc.
EOI, a pioneer of electro-optical test instruments, has been a provider of infrared, visible and ultra violet testing and calibration equipment since 1964.
Commenting on the transaction, Thierry Campos, President of the newly formed Electro Optical Industries Inc said, “This merger will greatly enhance our development and manufacturing capabilities in the USA. It will also significantly extend our product line and service offerings to the benefit of our customers worldwide. We are very excited by this historic move which will add to our rapid expansion and will position our group as a world leader in infrared instruments and wide area surveillance systems.”
FCT makes global appointments
Written by Global Cement staff
22 June 2016
US: Adriano Greco will become the CEO of FCT Inc from 1 August 2016. Greco became the company’s US-based sales director in early 2016. Greco has previously acted as managing director of Greco and as sales director for Gebr. Pfeiffer.
Other staff movements at FCT Inc include the appointment of Ricardo Costa as a technical director based in Brazil. The company will also open a new office in Florida to support its development in the Latin American market. Elsewhere in the group, Joel Maia has joined FCT as the technical director of its European subsidiary, FCT GmbH.