Lafarge.html |
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| Type | Public (Euronext: LG, NYSE: LR) |
|---|---|
| Founded | 1833 |
| Headquarters | Paris, France |
| Key people | Bruno Lafont (Chairman of the board and CEO)<\small> |
| Industry | Construction |
| Products | Cement, construction aggregates, concrete and gypsum wallboard |
| Revenue | €17.61 billion (2007)1 |
| Operating income | ▲ €3.242 billion (2007)1 |
| Profit | ▲ €1.909 billion (2007)1 |
| Employees | 77,720 (2007)1 |
| Website | www.lafarge.com |
Lafarge (Euronext: LG, NYSE: LR) is a French industrial company specialising in four major products: cement, construction aggregates, concrete and gypsum wallboard. It currently (2007) is the world's second-largest cement manufacturer by mass shipped behind Holcim.2 Lafarge is a major consumer of fossil fuels, particularly coal, which is essential to the cement making process.
The offices of Lafarge North America are in Herndon, VA.3
Contents |
History
Lafarge was founded in 18334 by Joseph-Auguste Pavin de Lafarge in Le Teil (Ardèche), to exploit the limestone quarry in Mont Saint-Victor between Le Teil and Viviers. The limestone is white and argillaceous, and yielded an eminently hydraulic lime.
In 1864 Lafarge signed its first international contract for the delivery of 110,000 tonnes of lime to the Suez Canal construction project4. It developed calcium aluminate cements. It was also an early pioneer in the production of white Portland cement, still made at the company's original Le Teil plant.
In 1919, a public company was formed, named "Société anonyme des chaux et ciments de Lafarge et du Teil."
In 1980, it joined with the cement company Coppée to become SA Lafarge Coppée.
In 2001, Lafarge, then the world's second largest cement manufacturer, acquired Blue Circle Industries (BCI), which at the time was the world's sixth largest cement manufacturer, to become the world leader in cement manufacturing4.
In 2006, Lafarge North America shareholders accepted a $3 billion tender offer from Lafarge Group which gave the parent company full control over the North American business, removing LNA from the New York Stock Exchange. Previously the Group had owned 53% of LNA shares5.
In 2007, divested its roofing division, selling it to a private equity group in a deal that resulted in Lafarge retaining a 35% equity stake4.
In December 2007, Lafarge announced the purchase of the Orascom Cement Group, an Egyptian based cement producer with operations across Africa and the Middle East, from Orascom Construction Industries (OCI)6.
On May 15,2008 Lafarge acquired Larsen&Turbo Ready Mix-Concrete (RMC) business in India for $349 million.7.
Environmental Concerns
On July 11, 2008, the Albany Times Union reported that Lafarge's Ravena, New York plant "was the greatest source of mercury emissions in New York from 2004 to 2006" 8 According to the story, plans have been made to upgrade the plant to reduce the mercury emissions. A second story, published the following day, stated that the factory had emitted 400 pounds of mercury annually from 2004 to 2006. 8
Financial Data
The following is a summary of data:91
| Year | 2001 | 2002 | 2003 | 2004 | 2005 | 2006 | 2007 |
|---|---|---|---|---|---|---|---|
| Sales | 13,698 | 14,610 | 13,658 | 14,436 | 15,969 | 16,909 | 17,614 |
| EBITDA | 2,862 | 3,101 | 2,820 | 3,028 | 2,920 | 3,610 | |
| Net results | 750 | 446 | 728 | 868 | 1,096 | 1,372 | 1,909 |
| Net debt | 9,332 | 8,544 | 6,734 | 7,017 | 7,221 | 9,845 | 8,685 |
| Staff | 82,892 | 77,547 | 75,733 | 77,075 | 80,146 | 82,734 | 77,720 |
References
- ^ a b c d e "Annual Report 2007". Lafarge. Retrieved on 2008-07-12.
- ^ Volumes shipped 2007 (2006 in brackets), million tonnes: Lafarge 136.4 (131.8); Holcim 149.6 (140.7). Source: 2007 company reports.
- ^ Lafarge North America website
- ^ a b c d Lafarge history
- ^ French parent targets huge but little-known Lafarge North America
- ^ Lafarge buys Orascom Cement for Euros 10bn
- ^ Lafarge Enters in Indian RMC Business with L&T Acquisition
- ^ a b "Update at Ravena Cement Plant to Clean Air". Albany Times Union. Retrieved on 2008-07-29.
- ^ OpesC
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