Displaying items by tag: France
Vicat’s nine months results benefit from French market improvement
07 November 2018France: Vicat’s cement sales rose by 1.8% year-on-year to Euro948m in the first nine months of 2018 from Euro932m in the same period in 2017. At constant scope and exchange rates it rose by 10.2%. Overall sales grew by 1.4% to Euro1.95bn from Euro1.92bn. The group’s sales volumes of cement rose by 3.1% to 17.4Mt from 16.9Mt.
“The group achieved healthy increases over the period in all our territories, except Switzerland and Egypt,” said the group’s chairman and chief executive officer (CEO) Guy Sidos. “In the third quarter, business trends held up well, despite a downturn in the economic and industry environment in Turkey, which was hit by the sharp depreciation in its currency. The acquisition of Ciplan in Brazil, a country with tremendous potential, reinforces Vicat’s strategy of sustainable growth, leveraging its high-quality assets and strong regional positions to generate cash flow.”
Titan Cement to list shares in Brussels and Paris
19 October 2018Greece: Titan Group has submitted a share exchange offer to help list its shares at exchanges in Brussels and Paris. Following the completion of the process, Belgium-based Titan Cement International will become Titan's ultimate parent company managed from Cyprus, according to Reuters. The group intends to list its shares at Euronext Brussels with secondary listings on the Athens Exchange and Euronext Paris. Titan says it wants to broaden its funding sources by improving access to international finance.
France/Syria: A judicial investigation has seized Euro4m from former Lafarge executives, including former chief executive officer (CEO) Bruno Lafont, as part of a probe into the company’s conduct in Syria. Sources quoted by the Agence France Presse said that Euro2.5m was confiscated from Lafont’s leaving package of Euro8.4m as Lafarge merged with Holcim to form LafargeHolcim. Funds were also taken from Bruno Pescheux and Frédéric Jolibois, the former directors of Lafarge Cement Syria, and from Christian Herrault, a dormer deputy general regional manager with overview of Syria.
Lafarge SA, a subsidiary of LafargeHolcim, has been placed under judicial investigation over its actions in Syria between 2011 and 2014. It has been accused of complicity in crimes against humanity and financing terrorism. A panel of three judges in Paris has ordered Lafarge to pay over Euro30m as a security deposit ahead of the trial. Eight former executives, including Lafont, have been charged in connection to the investigation.
Denis Mercier appointed Deputy General Manager of Fives
03 October 2018France: Fives has appointed Denis Mercier in the newly created role of Deputy General Manager. He will start working for Fives on 15 October 2018. Directly reporting to Frédéric Sanchez, chairman of the executive board, he will join the Group’s Executive Committee.
Mercier’s main duties will be supervising all Fives functional departments involved in group transformation: operational performance, human resources, communication, innovation, strategy and marketing, international development and information technology.
Between 2012 and 2015, Mercier was Chief of Staff of the French Air Force. Since 2015, he has been North Atlantic Treaty Organization (NATO) Supreme Allied Commander Transformation, a role that ended in September 2018. Born in 1959, Denis Mercier has received the awards of Grand Officier de la Légion d’honneur and Officier de l’Ordre national du Mérite.
Hoffmann Green Cement Technologies pilot plant to start commercial production in 2019
03 October 2018France: Hoffmann Green Cement Technologies’ pilot plant at Bournezeau, Vendée is set to start commercial production of low-carbon cement products in January 2019. Construction of the 50,000t/yr unit is due to be completed in October 2018 with its inauguration scheduled for late November 2018, according to Batiactu. The plant will employ 10 workers initially and this will rise to 15 – 20 as production ramps up.
The producer intends to make cement products using metakaolin and blast-furnace slag. If the pilot plant is a success it then intends to raise funds to build a 0.5Mt/yr plant.
LafargeHolcim Dunkirk plant receives Euro3.5m
16 August 2018France: LafargeHolcim has announced a Euro3.5m investment in a new mixer for its clinker and slag mill located on the port of Dunkirk. The new equipment is intended to further increase the site's production, which has been steadily increasing since it was commissioned in 2012. The mill will manufacture of cement with 40% clinker and 60% ground iron slag. Commissioning is scheduled for January 2019.
France: Vicat’s earnings rose in the first half of 2018 due to good performance in the US, Turkey, France and Kazakhstan. Its earnings before interest and taxation (EBIT) increased by 21.3% year-on-year to Euro104m from Euro86m. Its sales revenue rose by 2.7% to Euro1.28bn from Euro1.25bn. The company’s cement production increased by 5.3% to 11.4Mt from 10.8Mt.
“Excluding currency movements, which have a particularly large negative impact this year, the croup achieved notable progress in Turkey, the US, France and Kazakhstan,” said the group’s chairman and chief executive officer (CEO) Guy Sidos. He added that the group also benefitted from the start of work on new infrastructure projects in India.
However, the group reported a 21.9% fall in earnings before interest, taxation, depreciation and amortisation (EBITDA) to Euro22.7m in India due to falling prices and mounting energy costs. In West Africa EBITDA declined by 14.5% to Euro22.2m due to falling prices and rising production costs. In Europe EBITDA fell by 16.9% to Euro35m due to contacting sales in Switzerland as well as issues Italy. Finally, EBITDA fell to a loss of Euro3.9m in Egypt due to falling sales in the wake of military intervention in the Sinai region.
Syria: Declassified notes from the French secret service reported upon by the Libération newspaper have revealed that the Islamic State of Iraq and Syria (ISIS) terrorist group made at least US$11.5m in 2014 from cement it plundered from Lafarge Syria’s Jalabiya cement plant.
In December 2014 the Directorate of Military Intelligence (DRM) reported that ISIS had taken control of an estimated US$25m worth of cement at the site. Subsequently in late December 2014 the DRM monitored a meeting between Turkish businessmen and IS representatives from the cement plant that took place at the Turkish-Syrian border. 65,000t of cement from the plant had already been sold for US$6.5m and another 50,000t was contracted to be sold for US$5m.
France: LafargeHolcim France is spending Euro3.5m on upgrades to its Dunkirk grinding plant. Construction started in late May 2018 on the project and commissioning is scheduled for early 2019. The new equipment is intended to increase the unit’s production capacity. The upgrade at the site is part of the company’s Euro300m investment plan that was announced in 2016.
France: LafargeHolcim France has inaugurated a new clinker loader at its Martres-Tolosane cement plant. The Euro4.4m project consists of a 1000t silo fed by a belt conveyor and a loading area for trains and trucks. It is intended to supply the grinding mill at LafargeHolcim’s La Couronne plant with raw materials. The loader was built by DB2i, a subsidiary of engineering company Demathieu & Bard with the assistance of Comminges Bâtiment and Alibert & Fils. The project is part of a wider Euro100m investment initiative at the site.