The current economic environment continues to be tough for the cement industry, which has been heavily impacted since the beginning of the financial crisis.
In their Q3 results, both giant cement manufacturers Lafarge and Holcim Ltd, the world leading cement producers before Cemex, HeidelbergCement and Italcementi, reported lower sales and net earnings. However, while Lafarge seems to be the more affected, Holcim profits were stronger than expected.
“Results continue to be impacted by the economic slowdown,” declared French group Lafarge which said that its sales were down 15% to €12,243m ($18,330m.) on a year-to-year basis and net earnings down 38% to €404m. in Q3 2009....