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1212.2.INFORMATION ON TRENDSTRENDS AND OBJECTIVEgic. A significant proportion of the cost reductionsgenerated under this complementary “Performance+” plan are structural. On the basis of these, a vastmajority should be maintained in 2010.12.2.2. Trends up to 2011The interruption in economic trends over thecourse of 2008 and continued in 2009 has notallowed the Group to confirm the previously reportedtrends. Nevertheless, on the basis of theplans "Performance 2010" and "Performance +",the Group is ready to take part in the economicupturn, as soon as it begins.The Group continues to pursue its cost reductionefforts following completion of the “Performance2010” plan initiated in 2006 and will continue withthe complementary efforts put in place in thecontext of the “Performance +” plan. The purposeof these plans is to allow the Group to take advantageof additional production capacities andof a reduction in production costs, subject to theimpact of future changes in energy costs. Due tothe changes in the macroeconomic climate, theGroup recalls that in 2008 the “Performance 2010”plan was adapted to conditions in some markets.Consequently, the investments initially planned inthe United States in 2010 were postponed to alater date, which remains to be fixed depending ondevelopments in the markets in which the Groupoperates in this geographical region.In the context of continuing the “Performance2010” plan and against the background of strongvolatility in energy costs, the Group will maintainits objective of increasing the share of alternativefuels in the total amount of thermal energy used.The Group is also continuing its policy of increasingsales prices, designed to offset the rise inenergy costs, within the limits of the commercialconstraints imposed by the situation in somemarkets.12.2.3. Industrial investmentsAs explained in Section 5.2. “Investments” of thisRegistration Document as well as in the previousparagraph, the Group has completed its industrialinvestment program under the “Performance 2010”plan, in particular by postponing to a later date thestart up of new production capacities in the UnitedStates. The additional capacity at the end of the programis, therefore, around 6 million tons.The majority of the capacity increases were in emergingcountries, bringing the capacity in these countriesto over 12 million tons out of a total of almost 21million tons. Consequently, between 2006 and 2009,the “Performance 2010” plan enabled the Group torefocus its center of gravity towards the emergingcountries, which now represent 59 % of the Group’sglobal capacity, compared with 44 % previously.This trend will continue with, as indicated in Section5.2.2. “Main investments in progress and planned” ofthis Registration Document, the conclusion by theGroup of two majority shareholder partnerships withlocal companies in Kazakhstan and in India, with aview to building two greenfield plants :• A 1.1 million tons capacity greenfield plant inKazakhstan that should be operational in 2010 fora total amount including land, infrastructure, railtransport facilities etc. of approximately 230 millionUS dollars.• A 5.5 million tons capacity cement plant in Indiacomprising two production lines for a total investmentin the area of 650 million US dollars.The Group will start during 2010 after organizingfinancing on the construction of the first line,which should be operational in mid 2012. (Alsosee Sections 5.2.2. “Main investments in progressand planned”, 6.3.1.7. (j) “Overview of the cementmarket” and 9.1.5. “Effect of modifications to theconsolidation scope and exchange rate variations”).After completion of the “Performance 2010” plan,the overall amount of industrial investment shoulddecrease noticeably, amounting in 2010 to approximately220 million euros, including around 80 millioneuros in India and Kazakhstan.In accordance with the financial policy implementedby the Group (see Section 10.3.1. “Financial Policy”,of this Registration Document), investments are financedfrom the Group’s own resources. The constructionof greenfield plants gives rise to dedicatedfinancing provided by local subsidiaries. The financingfor the Kazakhstan project was set up in 2008,and that for the project in India should be finalizedduring the 1st half of 2010.The objectives shown above should not be consideredas estimates or forecasts but merely as targetsincluded in the Group’s business plans, in particularthe investment program described above, and bearingin mind the expected short-term trends.96 VICAT - 2009 registration document
INFORMATION ON TRENDS12.2. TRENDS AND OBJECTIVE12It is impossible to provide profit forecasts from theinformation provided, due to the fact that the Groupoperates its business in different sectors.2009 registration document - VICAT 97
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INFORMATION ABOUT THE COMPANY5.2. I
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21ADDITIONAL INFORMATION21.1. SHARE
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ADDITIONAL INFORMATION2121.2. CONST
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22SIGNIFICANTCONTRACTSGiven its act
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24DOCUMENTSAVAILABLE TOTHE PUBLICOf
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appendix1Report by the president on
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1appendixReport by the president on
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appendix2Statutoryauditors'reportpr
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appendix3ANNUALINFORMATION(ARTICLE
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3appendixANNUAL INFORMATION5. Decla
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4appendixELEMENTS CONSTITUTING THE
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GLOSSARYAdditiveAggregateAuto-level
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GLOSSARYClinkerisationCoalCoatingCo
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GLOSSARYGranulometryGrindingGrindin
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GLOSSARYPrecalcinatorCombustion cha
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GLOSSARYType of cementVibrationWork
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