Do More With Reuters
Partner Services

Lafarge may unveil new cement sales goal July 31-CEO

Sat Jul 4, 2009 6:49pm IST
 
Email | Print | | Single Page
[-] Text [+]

* Will change cement drop target if needed at H1 results

* Using 750 mln euro bond issue to refinance debt

* Says energy costs still down yr/yr despite oil rebound

AIX-EN-PROVENCE, France, July 4 (Reuters) - France's Lafarge (LAFP.PA: Quote, Profile, Research) may revise its forecast for global cement sales in 2009 when it publishes interim results later this month, the head of the building materials giant said on Saturday.

Speaking on the sidelines of an economic forum in southern France, Bruno Lafont told reporters Lafarge was, for the time being, sticking to a forecast made in May for a drop of between 2 percent and 5 percent in global cement sales this year.

Lafarge had to lower an initial forecast for a full-year fall of as much of 3 percent as economic conditions continued to deteriorate, hitting construction activity worlwide.

"We will issue a new estimate if needed at the end of July. For the time being this is what I can say," Lafont said in English. The company publishes its results on July 31.

"Our forecast is a mix of developed countries, which are in a recession, and emerging markets that are overall slightly positive -- still negative in Central Europe but very positive in Asia, the Middle East and Africa," Lafont said.  Continued...

India Investment Summit 2009
India Investment Summit 2009

Top executives and bankers discuss their own plans and the broader opportunities and challenges for India during the Reuters India Investment Summit in Mumbai and Bangalore.  Full Coverage | Blog 

Hugh Hefner
PLAYBOY SALE
An icon bows to changing times

With his Playboy Enterprises in talks to be sold for about $300 million, the 83 year-old Hugh Hefner will be giving up control over the iconic adult entertainment empire he founded that was instrumental in shaping society's opinions on nudity, sex and free speech.  Full Article 

Market Update

  • IndiaIndia
  • USUS
  • UKUK
  • Asia
  • Most Actives

SPECIAL REPORT

Himangshu Watts
India's food dilemma

Indian farms are failing to attract capital or talent, either from rich landlords or the students who graduate from agricultural universities.  Full Article | Related Story 

showcase

U.S. Recession
U.S. Recession

A trip through the epicenters of the American recession.  Full Coverage 

 
Central Banks Cautious
Central Banks Cautious

Reuters tracks the policies of the world's top central banks as the debate over global economic recovery rages on.   Full Coverage 

 
T P Raman
Column - RBI leads the world

Reserve Bank of India's approach ring-fenced the banking system.   Full Article 

 
Funding Blues
Funding Blues

A popular tactic used by Indian brokerages to raise money for rich clients is likely to be banned.  Full Article 

 
Not Enough Jobs
Not Enough Jobs

Venture capital creates jobs, but not enough.  Full Article 

 
Column - A Sweet Dream
Column - A Sweet Dream

There are good reasons for Ferrero to consider a combination with Cadbury.  Full Article