©Reuters Wolfgant Reitzle LafargeHolcim on Monday announced that its chairman was stepping down in May, less than a year after the Swiss-French cement group was formed through a contentious €41bn merger. Wolfgang Reitzle’s decision not to stand for re-election at May’s annual meeting is the latest upset for LafargeHolcim, which has seen its shares fall 48 per cent since last July, when the transaction was completed. More On this topic IN Construction LafargeHolcim’s results so far have disappointed amid weak economic conditions and overcapacity in its key markets. Before the group announced Mr Reitzle’s departure late on Monday, shares in LafargeHolcim had fallen 7 per cent from last week’s close after news he would stand for election to become chairman of the supervisory board of Linde, the German industrial and medical gases company where he was previously chief executive. Although a newcomer to the cement business, Mr Reitzle was closely involved in the protracted negotiations that led to Switzerland’s Holcim combining with Lafarge of France. The talks were punctuated by management culture clashes and regulatory hurdles. Mr Reitzle was instrumental in saving the deal when it nearly collapsed in March last year. Changes to the transaction meant Lafarge agreed that Bruno Lafont, its chief executive, would not lead the combined group but instead become co-chairman with Mr Reitzle. Eric Olsen, from Lafarge, was appointed the group’s chief executive. LafargeHolcim said on Monday it regretted Mr Reitzle’s departure but offered no explanation beyond saying he wished “to pursue other business activities that will require his fullest attention”. Mr Reitzle said in the same statement: “I am satisfied that LafargeHolcim is now fully on track with realising the benefits of the combined businesses.” The company’s shares closed down 8 per cent on Monday at SFr35.9. Mr Reitzle is due to be replaced as LafargeHolcim chairman by Beat Hess, currently vice-chairman, who joined Holcim in 2010. Mr Reitzle, 66, is among Germany’s best known businessmen, and some LafargeHolcim insiders suggested he was keen to return to Linde after two years of “gardening leave”. He was credited with Linde’s turnround when he became chief executive in 2003 after stints at Ford and BMW. He is chairman of the supervisory board at Continental, the German tyremaker. Mr Reitzle’s resignation comes after the Financial Times reported on Friday that a collateral call had resulted in Filaret Galchev, LafargeHolcim’s third largest shareholder, liquidating his stake in the company after its share price fall. Additional reporting by Michael Stothard in Paris Copyright The Financial Times Limited 2016. You may share using our article tools. Please don’t cut articles from FT.com and redistribute by email or post to the web. Source link

CITB and Build UK are joining forces for a week of exclusive, behind-the-scenes events at some of the UK’s best building sites.  Open Doors gives access to dozens of construction projects to inspire people to choose a career in construction and take the next steps to progress into the industry. From future architects, bricklayers and civil engineers to potential front-of-house sales managers, visitors of all ages and skill sets can get on site at Open Doors events between Monday 13 and Saturday 18 June. Projects that will be opening their doors include London’s Design Museum, a Proton Beam Therapy Centre in Manchester, a children’s hospital in Edinburgh and a state-of-the-art school and sports facility in south Wales. People interested in getting on site can book at opendoors.construction.    Once on site, visitors will find out exactly what it takes to create the iconic buildings of the future. They will then be encouraged to find out more about construction at the industry’s careers website – Go Construct. Suzannah Nichol, Build UK Chief Executive, said: “The construction industry is in a war for talent so we are delighted to be running Open Doors in partnership with CITB.  It’s an exciting chance for anyone seeking a future career, a new challenge, or a change of direction to see first-hand what construction has to offer.  We look forward to welcoming people of all ages onto our member sites in June.” Lorraine Gregory, CITB Partnerships Manager, said: “Open Doors is an excellent way of inspiring people to consider a career in construction. And it’s a key part of how CITB is supporting the construction industry through Go Construct.  “Over 230,000 new construction jobs will be created across Britain by 2020 and this is a great way to showcase some of them. Potential new entrants will get an exclusive opportunity to see first-hand what it’s like to work in the industry and what a rewarding career construction can be.” To find out more about Open Doors 2016 and book a visit a site, please go to: www.opendoors.construction. Source link

With the horrific news in recent weeks of the Grenfell fire in London, fire safety is the main focus of those involved in construction, property management and those working in local and national government. One week after the tragedy took place FIREX International took place at London’s Excel. The event takes place for professionals in all areas of the industry to come together and discuss where the sector is and what needs to happen in order to make sure that people and property are better protected against fire. As part of the event, GGF exhibited in order to increase their profile and concepts such as fire resistant glazing. The exhibition also showed the work that has been undertaken by the Fire Resistant Glazing Group of GGF that looked to educate, guide and showcase the importance of fire resistant glazed systems for those in attendance for the broader safety sector. Across the three day FIREX International event, GGF showed their online video, “Fire Resistant Glazing – Getting it Right vs. Getting It Wrong”. The video is still available to access online and features a visual depiction of Fire Resistant Glazing, demonstrating why they should be used as well as why it should be installed correctly. The event took place from the 19th to the 21st of June, and Richard Kells, the Technical Officer for GGF and the Secretary of the Fire Resistant Glazing Group was available throughout the event in order to answer any questions about the performance of their fire resistant glazing systems. With the events at Grenfell, it is even more important to hold the FIREX International took place, especially for the GGF, as their presence at the event helped further raise the profile of fire resistant glazing options for the main figures in the fire safety sector. GGF also had information about their Beft Practice in the Specification and Use of Fire Resistant Glazed Systems at the enet which is also available online.

If you’re considering overseas expansion, you’re doubtless wondering how you’re going to pay for it. Securing investment from Venture Capitalists (VCs) will certainly support your business from a financial perspective, but with so much rejection and endless rounds of ‘grillings’ from potential investors, is it worth it? Well, it entirely depends on your business, the level of control you want to share or retain, the market you currently operate in (and hope to operate in), and the nuances of the location you want to expand to. So, it’s impossible to say with any confidence whether or not you should pursue investment to support your expansion. But, the short and generalised answer is yes – securing capital is a giant leap in the right direction for a business that’s serious about international growth. Investment will mitigate against the risk your business faces from a financial perspective: by having the support of investors as you expand, you’ll have access to capital, resources and contacts to make the process smoother, decreasing the likelihood that your expansion will be a failure. However, from the outset, it’s worth mentioning that it’s probably a good idea to seek investment overseas from the country you’re expanding your business into. For example, if you’re considering expansion to the US (an example we’ll use from this point onwards), it makes sense to seek investment from US investors. This is because you’ll have an easier time to convincing an investor to reach into their pocket if you’re going to be operating on their turf. And, you’ll also find you’ll increase your likelihood of securing investment if you present your plan in a way that correlates with the businesses practices and regulations your US investor is already familiar with. However, if you’re operating in a global market, you could operate a ‘shotgun fundraising approach’ instead. This involves contacting investors from all over the world, potentially ‘opening up’ opportunities for international expansion elsewhere beyond the location you may have initially set your sights on. But, whether you resolve to secure investment from a VC in the country you’re expanding to, or investment from elsewhere in the world, it will pay to know a few tips for making the process a little easier. Get boots on the ground: Investors are going to be more receptive to your proposition if you’ve started making significant inroads to exploring their market, so demonstrate you’re doing your research by getting employees in your chosen location. You won’t necessarily need to do anything as risky as setting up a subsidiary to do this, as you can instead work with companies that specialise in hiring US employees in your chosen state on your business’s behalf. Hiring employees is likely to get traction with US investors as they’ll see that you have ‘boots on the ground’. Look for venture capitalists with a proven track record: There are a number of investors you might want to approach, but only a handful of them will have a proven track record of investment in your industry or market. Similarly, an even smaller number will have a proven track record of transatlantic investments, so continue narrowing your search on this basis (bearing in mind that this small pool of investors is likely to make only a handful of investments over a period of time) before delivering your best pitch. Seek investment from VCs you share commonalities with: A UK business may have luck attracting foreign investment from a US VC due to the fact they share similar languages, business cultures and corporate structures, so don’t under-utilise the power of drawing on commonalities. Pitch your company’s best assets: Are you a mature company and therefore require a less hands-on approach insofar as involvement is concerned from a VC? If so, you might be suitable for a long-distance financial relationship, and make yourself a better option from an investment perspective.