A Middle East sister operation of New Jersey-based aggregate, asphalt and ready mixed producer Colas USA has agreed to resolve allegations that it violated the False Claims Act by delivering substandard concrete to U.S. Navy airfields in the Republic of Djibouti, nestled between Ethiopia and the strait linking the Red Sea and Gulf of Aden. Settlements with the Department of Justice will sunset a seven-year-old case that commenced after Colas Djibouti SARL informed the Department of Defense that materials supplied to U.S. Navy Facilities Engineering projects did not meet contract specifications.
The $3.9 million civil settlement resolves allegations that Colas Djibouti knowingly provided contractually noncompliant concrete that did not meet gradation requirements, contained excessive alkali-silica reactive material, and exhibited elevated chloride content. Such conditions have the potential to promote early-age cracking, surface defects, and embedded steel corrosion, Justice official
Vicat: Summary of Combined General Meeting of 9 April 2021
VCT) announces today that the Group s Combined Annual General Meeting was held today.
All the resolutions presented to the Annual General Meeting were adopted, including the resolution to maintain the dividend at €1.50 per share, in accordance with the recommendations of the Board of Directors.
In order to respect the measures taken by the government to limit the risk of COVID-19 contamination, this meeting has been held behind closed doors. In this context, and in order to allow shareholders to follow the Meeting remotely, it has been broadcasted live. A replay is available on the Company s website (www.vicat.fr).
Vicat: 2020 Universal Registration Document Release
Regulatory News:
The Vicat group (Paris:VCT) (Euronext Paris: FR0000031775 VCT) today announced that it has filed its 2020 universal registration document with the Autorité des Marchés Financiers (AMF) on March 10
th, 2021 (under number D.21-0106).
This document is available under the terms and conditions stipulated by the applicable regulations. It may be viewed on Vicat s website (www.vicat.fr) and will be sent free of charge to any person who requests a copy from the company s head office (Les Trois Vallons 4 rue Aristide Bergès, F-38080 l Isle d Abeau, France).
About Vicat
The Vicat Group has over 9,000 employees working in three core divisions, Cement, Concrete Aggregates and Other Products Services, which generated consolidated sales of €2.805 billion in 2020. The Group operates in twelve countries: France, Switzerland, Italy, the United States, Turkey, Egypt, Senegal, Mali, Mauritania, Kazakhstan, India and Braz
Hamlet ‘holding tight’
Cowdrey Hamlet have not been able to rid himself of the nightmares that have haunted him since he discovered his colleague dead body.
By: William Kojah Anthony•
Cowdrey Hamlet, a former watch man from the Central Leeward Town of Layou, is taking life one day at a time, in the hope that his problems will be over one day soon.
In any event, he has to wait until the COVID-19 eases so as to allow settlement in an industrial matter he has before the Labour Department.
Hamlet worked with Concrete Aggregates Ltd. from August 17, 2008. He provided watchman services at the Company’s operation located in the interior area of the Mt. Wynne estate referred to as ‘Jill Bay’. He has since been relieved of his position.
Vicat: 2020 Results
Sales growth of +5.5% at constant scope and exchange rates
Increase in operational profitability: EBITDA up +10.1% and EBIT up +17.5% at constant scope and exchange rates
Decrease in net financial debt of -€88 million to €1,202 million and leverage ratio at 2.16x vs. 2.45x at 31 December 2019
Audited condensed consolidated income statement:
(€ million) EBIT: EBITDA less net depreciation, amortisation and provisions on ongoing business. Leverage ratio: net debt/consolidated EBITDA
Commenting on these figures,
Guy Sidos, the Group s Chairman and CEO said: Thanks to our employees tremendous efforts and commitment, the Vicat group strengthened its position amid the unprecedented current pandemic situation. Our resilience and flexibility allowed us to make organizational changes in order to reconcile our competing imperatives of keeping everyone safe and healthy, unlocking savings and making rapid adjustments, such as relocating our Par