Lafarge

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For the New York City architectural firm, see Heins & LaFarge
Lafarge
Type Public (Euronext: LG, NYSE: LR)
Founded 1833
Headquarters Paris, France
Key people Bruno Lafont, Chairman and CEO
Industry Cement
Revenue € 16,909 million (2006)
Operating income € 2,772 million (2006)
Employees circa 71,000 (2006)
Website www.lafarge.com

Lafarge (Euronext: LG, NYSE: LR) is a French industrial company specialising in five major products: cement, construction aggregates, concrete and gypsum wallboard. It currently (2006) vies with Holcim to be the world's largest cement manufacturer.[1] 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.[2]

Contents

[edit] History

Lafarge was founded in 1833[3] 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 project[3]. 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 manufacturing[3].

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 shares[4].

In 2007, divested its roofing division, selling it to a private equity group in a deal that resulted in Lafarge retaining a 35% equity stake[3].

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)[5].

On May 15,2008 Lafarge acquired Larsen&Turbo Ready Mix-Concrete (RMC) business in India for $349 million.[6].

[edit] Financial Data

The following is a summary of data:[7]

Financial data in millions of euro
Year 2001 2002 2003 2004 2005 2006
Sales 13 698 14 610 13 658 14 436 15 969 16 909
EBITDA 2 862 3 101 2 820 3 028 2 920 3 610
Net Results 750 446 728 868 1 096 1 372


Net Debt 9 332 8 544 6 734 7 017 7 221 9 845
Staff 82 892 77 547 75 733 77 075 80 146 82 734

[edit] References

  1. ^ Volumes shipped 2006 (2005), million tonnes: Lafarge 131.8 (123.2): Holcim 140.7 (110.6): Cemex: (capacity end 2006) 93.2. Source: 2006 Company Reports
  2. ^ Lafarge North America website
  3. ^ a b c d Lafarge history
  4. ^ French parent targets huge but little-known Lafarge North America
  5. ^ Lafarge buys Orascom Cement for Euros 10bn
  6. ^ Lafarge Enters in Indian RMC Business with L&T Acquisition
  7. ^ OpesC

[edit] External links

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