09 October 2017
Dangote Cement withdraws from PPC bid 09 October 2017
South Africa: Dangote Cement has formerly withdrawn from the bidding process for PPC. The Nigerian cement producer confirmed it was in talks with PPC in mid-September 2017 following an offer by Fairfax Financial Holdings.
Lafarge Syria alleged to have paid armed groups up to US$100,000/month to keep cement plant running 09 October 2017
France: Lafarge Cement Syria allegedly paid up to US$100,000/month to armed groups including US$20,000 to the Islamic State (IS) terrorist group. Former plant manager Bruno Pescheux told investigators that the money went via local businessman Firas Tlass, who was a former minority shareholder in the cement plant, according to the Agence France Presse. Witnesses in the French judicial inquiry have also described false accounting methods used to disguise oil purchases from IS, travel documents allowing Lafarge trucks to move in the region and a planned meeting between IS and a Lafarge Cement Syria security official. The inquiry continues.