Romania/Switzerland: Romania’s anti-trust authority has completed its review of LafargeHolcim’s takeover of the precast concrete manufacturer Someco for an undisclosed sum. SeeNews has reported that the body found that “no significant obstacles to effective competition” were raised by the deal.
Somaco’s five precast concrete and one aerated concrete block production plants, which employ 750 people, made sales of Euro56m in 2018.
US: A court in South Carolina has ruled against a dismissal motion submitted by Lafarge North America, Argos USA and six other manufacturers of ready-mix concrete which stand accused of fixing prices, rigging project bids and allocating territories and customers amongst themselves. Class Action Reporter has stated that the defendants asserted that the complainants, who claim to have suffered injury by the alleged conspiracy, have failed to provide actionable facts pertaining to the role of each accused party, the duration of the purported anti-competitive behaviour and its geographic scope including the court’s jurisdiction. Lafarge further contested that the Statute of Limitations precludes its prosecution, because it ceased concrete trading in the region in 2011. The court concluded that the claim contained sufficient fact for further examination to be reasonably expected to reveal evidence of an illegal agreement. It will hear the case against all defendants.
Nigeria: Lafarge Africa CEO Michael Puchercos re-introduced the company’s fast-setting and early-strengthening Supaset cement at a product launch in Lagos on 2 October 2019. The Guardian Nigeria has reported that the new and improved Supaset has been specially refined to suit climate conditions across the country. In line with the ‘Building for Growth’ pillar of its Strategy 2022, the cement is packaged in horizontal bags for ease of block making.
India: UltraTech Cement has declared the scheme of arrangement between itself and Century Textiles and Industries as part of its merger process. It will issue one equity share worth US$0.14 each for every eight equity shares of the same value held by the shareholders of Century Textiles and Industries. UltraTech Cement received approval from the Competition Commission of India (CCI) for the acquisition of the cement business of Century Textiles and Industries in late August 2018 but it faced legal challenges subsequently.
The acquisition further strengthens UltraTech Cement’s lead in the Indian market. It says it is now the only company outside of China to have a production capacity of more than 100Mt/yr in a single country. It also claims that it is the third largest cement company in the world excluding those based in China.
