Displaying items by tag: Lafarge Malaysia
Lafarge Malaysia confident for future despite subdued economy
26 October 2015Malaysia: Lafarge Malaysia Bhd has said that it will be able to achieve a targeted level of growth despite the overall subdued economic situation.
CEO Thierry Marie Robert Legrand said this was possible because of continued government spending in several key projects such as the Mass Rapid Transit (MRT) and Light Rail Transits (LRT) lines after the Budget 2016 was announced.
"We are cautiously optimistic of growth this time. The growth has been quite good in the past few years and this is expected to continue," said Legrand. He added that property projects were also continuing and would help it sustain its business.
Lafarge Malaysia to buy Holcim Malaysia for US$77.3m
21 September 2015Malaysia: Lafarge Malaysia plans to buy Holcim Malaysia, for US$77.3m according to a regulatory filing. The acquisition of the subsidiary of Holcim Indonesia, is expected to be completed the fourth quarter of 2015. It will be paid for using internal funds and borrowing. Holcim Indonesia originally bought the unit for US$37m in 2009.
"The acquisition is also expected to deliver synergies through operational efficiencies, including the increase in economies of scale and bargaining power and reduction or elimination of duplicative functions," said a Lafarge Malaysia spokesperson. The acquisition of Holcim Malaysia will increase the cement production capacity of Lafarge Malaysia from 12.95Mt/yr to 14.14Mt/yr.