Lafarge SA and Anglo American plc announce the appointments of their 50:50 UK joint-venture's Chairman, CEO and CFO.
Jamie Pike is appointed as Non-Executive Chairman, Cyrille Ragoucy as CEO and Guy Young as CFO of the joint-venture which will combine Tarmac's and Lafarge's cement, aggregates, ready-mixed concrete, asphalt and asphalt surfacing and maintenance services, and waste services businesses in the United Kingdom.
The appointments are subject to the completion of the joint-venture and it is anticipated that the joint-venture will commence operations in early 2013 once final clearance is received from the Competition Commission.
The joint-venture creates a leading UK construction materials company, with a portfolio of high quality assets drawing on the complementary geographical distribution of operations and assets, the skills of two experienced management teams and a portfolio of well-known and innovative brands. The joint-venture's complementary geographical and product portfolios are also expected to create a business optimally positioned to benefit from economic recovery.
Cynthia Carroll, Chief Executive of Anglo American, and Bruno Lafont, Chairman and Chief Executive of Lafarge said: "We welcome Jamie Pike as the Joint Venture's Chairman, Cyrille Ragoucy as CEO and Guy Young as CFO of the Joint Venture, a new business which brings together two high quality and complementary UK businesses to create a compelling new industry proposition through which we expect to unlock significant value. Jamie brings more than 20 years of experience from an array of industrial and manufacturing business, providing strong balance to the impressive management team drawn from both businesses."
Notes to editors
Jamie Pike (57) is Non-Executive Chairman of Lupus Capital plc, a leading international supplier of building products to the door and window industry, RPC Group PLC, a leading international supplier of rigid plastic packaging and MBA Polymers Inc, a private US plastics recycling business. He was Chief Executive of Foseco plc, an international business serving the foundry and steel making industries, until its acquisition by Cookson Group plc in April 2008. He led the buy-out of Foseco from Burmah Castrol in 2001, which culminated in flotation on the main market in 2005. He has previously been a Non-Executive Director of two FTSE 250 companies, RMC Group plc and Kelda Group plc and a Chairman of the Defence Support Group. His early career was as a consultant with Bain and Co and A T Kearney before joining Burmah Castrol in 1991. He rose to Chief Executive of Burmah Castrol Chemicals before leading the Foseco buy-out. Mr Pike was educated at Oxford, holds an MBA from INSEAD and is a Member of the Institute of Mechanical Engineers.
Cyrille Ragoucy (56) is Senior Vice President Health and Safety for Lafarge. From 2005 to 2009, he was CEO and Regional President for Lafarge's cement operations in China ("Lafarge Shui On Cement"), at the formation of this joint-venture, which he successfully led during its forming and expanding phases. During this period, he was responsible for 25 plants and 10,000 people. Prior to this, he was Regional President for Aggregates, Concrete, Asphalt and Paving for Lafarge in Eastern Canada (1999 to 2005). Cyrille Ragoucy joined the Lafarge group in 1998 as VP Cement Strategy for Lafarge North America.
Guy Young (43) has been CFO of Tarmac for the last two years, with responsibility for Tarmac's financial, IT and legal operations, as well as the pre-integration planning for the joint venture. Guy has been with Anglo American for 15 years in a variety of roles, including CFO of Scaw Metals, Group Procurement and within the CEO's Office. Guy was educated at The University of Cape Town and qualified as a chartered accountant after doing articles at Deloitte.
Located in 64 countries with 68,000 employees, Lafarge is a world leader in building materials, with top-ranking positions in its Cement, Aggregates & Concrete businesses. In 2011, Lafarge posted sales of 15.3 billion euros.
Since 2010, the Lafarge Group has been part of the Dow Jones Sustainability World Index, the first global sustainability benchmark, in recognition of its sustainable development actions. With the world's leading building materials research facility, Lafarge places innovation at the heart of its priorities, working for sustainable construction and architectural creativity.
Anglo American is one of the world's largest mining companies, is headquartered in the UK and listed on the London and Johannesburg stock exchanges. Anglo American's portfolio of mining businesses spans bulk commodities - iron ore and manganese, metallurgical coal and thermal coal; base metals - copper and nickel; and precious metals and minerals - in which it is a global leader in both platinum and diamonds. Anglo American is committed to the highest standards of safety and responsibility across all its businesses and geographies and to making a sustainable difference in the development of the communities around its operations. The company's mining operations, extensive pipeline of growth projects and exploration activities span southern Africa, South America, Australia, North America, Asia and Europe. www.angloamerican.com