Lafarge (1993-2004). Comment on devient firme mondiale

From 1993 the Lafarge group became a world firm. 1993 is indeed the starting point of a sustained growth which led the group to be the world leader for cement and aggregates. Thanks to an excellent control of production costs and to high rates of investment, the group was able to maintain a high level of profitability. Important operations of external growth, the acquisitions of Redland in 1997 and Blue Circle in 2001 compelled the group to a growing debt, and to an increasing appeal to an evermore international shareholding. Submitted to stock exchange prices tyranny, the group nevertheless conciliated increasing dividends and substantial self-financing. This success is due to an efficient market strategy: leader in Europe and North America, Lafarge compelled recognition in Africa, conquered good positions in Latin America, and made an outstanding breakthrough in the Far East, especially in China, South Korea and India. Its success is due to workforce policy, coherent strategy of sustained development and to an important effort of RD. It represents ultimate key for advance on competitors.