Displaying items by tag: Holcim Azerbaijan

Azerbaijan: An unidentified sender has threatened executive board members of Switzerland-based LafargeHolcim subsidiary Holcim Azerbaijan and their families. Turan Information Agency has reported that an alleged assault was perpetrated against a non-Azerbaijani manager of the company. Holcim Azerbaijan said, “Apparently the transparent activity of our company interferes with the interest of criminal forces.” Law enforcement authorities have launched a full investigation.

Azerbaijan: Holcim Azerbaijan has launched Unkial, a cement product offering water resistant properties in the concrete it makes. The product is being targeted for general usage, according to the Turan Information Agency. Production of the new product will meet local demand.

Azerbaijan: LafargeHolcim has increased its stake in Holcim Azerbaijan to 76% from 66%. The move followed the decision by the European Bank for Reconstruction and Development (EBRD) to sell its 10% equity stake in the cement producer, according to ABZ News. Remaining shares in company are held by individual shareholders.

Azerbaijan: Holcim Azerbaijan has launched its Spesial 400 Cement product. The general-purpose cement product is intended for mid-strength concrete applications. It follows the launch of the Optimal 300 product in 2017.

Azerbaijan: Frederic Guimbal was appointed director general of Holcim Azerbaijan OJSC. Guimbal took up his duties in October, replaced Rossen Papazov in this post. Prior to this role, Guimbal served as CEO of Holcim India.

Azerbaijan: The Board of Directors of the European Bank for Reconstruction and Development (EBRD) has declined to increase its participation share in the capital of Holcim Azerbaijan to 20%. No reason for the refusal has been disclosed. The bank currently holds a 10% share in the cement producer, according to Trend News Agency. The EBRD has been considering increasing its share in the cement producer since mid-2016. It said that it would continue its support in the development of Azerbaijan’s non-oil sector. Holcim Azerbaijan’s main shareholder is LafargeHolcim. It owns a 66% of the company. The bank expects government infrastructure projects to pick up the sector in the medium to long term.

Azerbaijan: The board of directors of the European Bank for Reconstruction & Development's (EBRD) has decided to raise its stake in Holcim Azerbaijan to 20%. The move is intended to support the company’s energy efficiency through the use of alternative fuels.

“The bank will continue to support a major company in Azerbaijan, demonstrating continued support for the country's non-oil sector,” said the bank in a statement. “In addition, the company is committed to sustainability standards and will pursue the use of alternative fuels in its operations.”

LafargeHolcim acquired a controlling stake in Holcim Azerbaijan, formerly Garadagh OJSC, during a privatization process in 1999. The EBRD currently owns a 10% share in the cement producer.

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%).

Azerbaijan: The Azerbaijan Investment Company (AIC) sold its 10% stake in Holcim Azerbaijan to Holcim on 18 November 2015, according to a government source quoted by Azer-Press. AIC and Holcim signed a memorandum of understanding in December 2007 allowing AIC to gain 10% of shares in local Holcim cement plant following the completion of certain conditions. These included increasing the plants cement production capacity from 1.3Mt/yr to 1.7Mt/yr of cement and its clinker production capacity from 0.8Mt/yr to 1.2Mt/yr of clinker.