Building bridges: the Route des Tamarins – 34km of expressway, 23 bridges, nine intersections and three tunnels – one of the largest construction sites in Europe is nearing completion, with materials from Lafarge.

Lafarge 'cautious' about cement sales

Published:  06 July, 2009

AIX-EN-PROVENCE, France: Lafarge’s chief executive Bruno Lafont said his company remained cautious about future cement sales.

"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. We will issue a new estimate if needed at the end of July,” he said.

The company is sticking to a forecast made in May for a drop of between 2% and 5% in global cement sales this year.

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

Lafarge will use the proceeds of a recent 750m euro bond to refinance its debt which surged 94% year-on-year to nearly 17bn euros at the end of 2008 following the 8.8bn euro acquisition of Orascom Cement.

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