FD to build credentials for Lafarge

French building materials group Lafarge has appointed Financial Dynamics as its first UK financial PR agency. The agency was appointed last weekend in preparation for this week’s announcement of Lafarge’s hostile bid for UK tile and aggregates company Redland.

French building materials group Lafarge has appointed Financial

Dynamics as its first UK financial PR agency. The agency was appointed

last weekend in preparation for this week’s announcement of Lafarge’s

hostile bid for UK tile and aggregates company Redland.



Financial Dynamics was brought in without a pitch following a

recommendation from French drinks group LVMH. It has handled LVMH’s PR

throughout its opposition to the proposed Guinness and GrandMet

merger.



Financial Dynamics will focus on merger and acquisition work. Nick

Miles, chief executive of Financial Dynamics, said: ’We’re working on

establishing Lafarge’s credentials and demonstrating that mergers and

acquisitions are another string to our bow.’



The agency’s first task is to handle media relations for Lafarge in its

bid for Redland. Rival bids are likely from UK groups Hanson and RMC and

Australian building group Pioneer. Redland is resisting Lafarge’s

initial pounds 1.67 billion bid in the hope of a higher offer from rival

bidders or Lafarge itself.



Lafarge is the world’s second-largest cement supplier and also supplies

speciality building products. Its estimated turnover last year was

pounds 4.4 billion. It already has UK concerns following its purchase of

Redland’s plaster board business in 1992 and has a significant presence

in the US.



Have you registered with us yet?

Register now to enjoy more articles and free email bulletins

Register
Already registered?
Sign in