Lafarge Seeks Cost Cuts of $1.1B Euros

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Nov. 6 (Bloomberg) –- Bloomberg’s Caroline Hyde reports on earnings for French cement maker Lafarge which sees sales down 4%. She speaks to Anna Edwards and Jonathan Ferro on Bloomberg Television’s “Countdown.” (Source: Bloomberg)

Coming.

Just getting the earnings from the french cement maker.

Down six percent, about one million euros.

The estimate was or 1.46. sales also down four percent, coming in just shy of 4.20 5 billion euros.

This is what we are seeing a cross entire market when it comes to cement makers.

Lafarge promised so much, they said second-half volumes, sales and earnings would be better.

These results are confirming that.

Sales are still deteriorating.

This is the way the companies are going, all about self help.

As the market deteriorates, they have all been impacted by southern europe and the middle east and concerns about rising energy prices.

They have said they will cut another 1.1 billion euros in terms of cost reduction from 2015-2016. it is all about self help now for this company.

The priority is to cut debt.

This company is no longer investment-grade.

The focus has been sell assets, cut costs, and innovate.

Try to make yourself more innovative.

They have been selling quarries in selling their gypsum in the united states.

They are introducing new plants in russia and india, just trying to be more efficient.

When you want to build a new home or plant him a weathered the infrastructure or residential, they want to help builders keep it cheap.

They have been offering targets and say overall they want to have an additional 650 million euros through innovations in cost cuts.

Overall they are trying to cut their debt.

We will talk about the construction sector a little later.

Hsbc are said to have dropped

This text has been automatically generated. It may not be 100% accurate.

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