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NewsGeneralLafarge plans to cut costs by $1300 million by 2015

Lafarge plans to cut costs by $1300 million by 2015
Lafarge plans to cut costs by $1300 million by 2015
 News added on 12-Jun-2012

Lafarge has announced its 2012 – 2015 plan to increase growth, drive sales and reduce debt. The plan aims to achieve cost savings of €1300 million by 2014, €400 million of which is expected to be saved this year. Energy savings will be made through the use of alternative fuels and costs reduced through the implementation of electricity management programmes.

The plan sets a debt reduction target of less than €10 billion in 2013. Instead of investing in major acquisitions, Lafarge will focus on brownfield projects and increase production capacities at existing plants. The company aims to increase EBITDA by €450 million between 2012 and 2015, by driving sales growth in existing markets and developing innovative services and products.

Bruno Lafont, Lafarge Chairman and CEO, said of the plan: “During the recent past we have built a balanced portfolio of high quality assets weighted to growth markets. We will penetrate these markets more deeply by addressing the changing needs of customers by introducing new innovative products, new construction solutions, and higher levels of service. Also, through productivity improvements and less intensive capital expenditures, we expect to generate higher returns from these existing positions.”

Adapted from press release by Louise Fordham.

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