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Lafarge Jordan files for insolvency


Lafarge Jordan files for insolvency
Written by Global Cement staff
27 May 2021
Jordan: Lafarge Jordan has had its insolvency filing approved by a court in Jordan. The Jordan Times has reported that the company has capital of US$84.6m, while its accumulated losses are US$169m. It has blamed weak demand and an inability to cope with variable operating and administrative costs made worse by the coronavirus crisis.
The company said that it plans to continue its reform process so that it is able to meet its obligations under insolvency law. It added, “The company intends to adopt a well-thought-out and actionable financial plan to pay off its debts and meet its liabilities within reasonable legal periods and in agreement with creditors.”

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Nuvoco Vistas plans US$677m initial public offering


Nuvoco Vistas plans US$677m initial public offering
Written by Global Cement staff
06 May 2021
India: Nirma Group subsidiary Nuvoco Vistas plans to launch a US$677m initial public offering (IPO). The Economic Times newspaper has reported that the IPO consists of a US$190m – US$203m fresh issue and a US$474m offer for sale. The company’s targeted valuation after listing is US$4.74bn, in line with the value of Switzerland-based LafargeHolcim subsidiary ACC.
Nuvoco Vistas first acquired its cement assets from Lafarge India in 2017.
Last modified on 12 May 2021

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Holcim Argentina completes upgrade at Malagueño cement plant


Holcim Argentina completes upgrade at Malagueño cement plant
Written by Global Cement staff
04 May 2021
Argentina: Holcim Argentina, part of Switzerland-based LafargeHolcim, has completed a US$120m upgrade at its integrated Malagueño cement plant in Córdoba province. In a meeting with the Minister of Productive Development, Matías Kulfas, the cement producer said it was planning in inaugurate a newly refurbished 0.51Mt/yr production line at the site later in May 2021. The work also included adding a vertical roller mill and new bagging area with a capacity of 120,000bags/day. The project was originally announced in late 2017 and Germany-based KHD was awarded a related contract in early 2018.

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Holcim Argentina plans 1000 new Disensa retail chain locations


Holcim Argentina plans 1000 new Disensa retail chain locations
Written by Global Cement staff
29 April 2021
Argentina: Holcim Argentina, part of Switzerland-based LafargeHolcim, has announced plans to open 1000 new branches of its Disense retail chain by 2024. The Diario Financiero newspaper has reported that the chain opened 40 new locations during 2020.
General manager Natalia Soler said, "Being considered an essential sector, builders merchants continued to operate during quarantine. This scenario benefited us, coupled with the number of customers who took advantage of the context and their savings to make repairs to their homes."

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