Insider Header
FocusOn Landscapers | FocusOn Equipment Rentals | FocusOn Mining, Aggregates & Construction | FocusOn Land Improvement Contractors
Spacer
ROTOTILT
Trending Industry Stories
Spacer
Caterpillar Wants to Sell You Chunky Sneakers Now
BigRentz Survey Reveals Inaccurate Views among Young Americans about Jobs and Pay
Goodyear Flies Into Geneva With Aero Tiltrotor Tire Concept
Increased Tiltrotator Sales And Predicted Growth Behind Rototilt Factory Expansion
TxDOT Joins Effort To End Human Trafficking
Coalition of over 200 groups push Congress to pass USMCA
Case Announces the 2019 Dire States Equipment Grant
Contractor that Built Miami Pedestrian Bridge that Collapsed Files for Bankruptcy
KOBELCO See What Sets Us Apart
Lift & Move Career Exploration Events Set for 2019
Kawasaki USA recalls utility vehicles
Video: Horse Buried In Blizzard Dug Out By An Excavator
Trump Plans To Eliminate The $10 Billion Boost For Infrastructure Provided By Congress
Remote-Controlled Wheel Loaders To Be Tested
Spacer

Spacer
Name*

Spacer
Email*

Spacer
City*

Spacer
State/Province*

Spacer

Spacer
U.K. Quarry Expansion Says a Lot About LafargeHolcim’s Ambitions

Original source: Bloomberg

Screen Shot 2018-12-01 at 1.45.18 PM.png An old English quarry on a wet and windy November day is an unlikely setting for a turnaround of Europe’s biggest cement maker. But for LafargeHolcim Ltd. Chief Executive Officer Jan Jenisch, all he hears is the “sound of money.”

The 52-year-old was leading dozens of visitors around Bardon Hill, in the Midlands, where volcanic rock has been extracted for four centuries. Now, the embattled Swiss cement maker he runs is investing 80 million pounds ($102 million) to further expand the site in an effort to turn the ear-splitting process of crushing stone into a future cash cow.

“We have a huge catch up to do,” Jenisch said, noting that the company is the least profitable among rivals in the aggregates market. “It’s a bit of a sad situation, but has fantastic potential

The plan to bolster this end of LafargeHolcim’s business, which churns out materials for pavement and home-building, is emblematic of the bigger remodeling at hand at Europe’s biggest cement producer. More than three years after a painful tie up between French and Swiss market leaders, investors have pinned their hopes on Jenisch to steady a ship rocked by executive departures, a loss of confidence in his predecessor’s financial goals and a French criminal probe into past operations in Syria.

But there are also challenges, including at Bardon Hill - which is Europe’s biggest quarry and supplies some 15 percent of the U.K.’s annual rock and stone needs. The new investment will come amid a local market slowdown in the lead up to Brexit, which Jenisch dismisses as a blip because “infrastructure investment will continue.”

For the revamp of the company as a whole, outside forces in the shape of higher energy prices and weaker growth in some regions like Latin America are also throwing up roadblocks. The shares are down nearly a......

... GO TO Says a Lot About LafargeHolcim TO READ MORE

Google Email Twitter Linkedin Facebook

Spacer
The FocusOn Group

FocusOn Landscapers
FocusOn Equipment Rentals & Retailers
FocusOn Mining, Aggregates & Construction
FocusOn Land Improvement Contractors
About

The FocusOn Industry Insider, bringing you breaking news and information relevant to your industry.
Contact

We hope you enjoy this no charge service for FocusOn subscribers. Suggestions for making the Insider better? editor@thefocusongroup.com.

Would you like to advertise with us?
Advertising Inquiry
Email to a friend Subscribe Advertise