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News Huaxin Cement to buy Lafarge Africa for US$1bn

Huaxin Cement to buy Lafarge Africa for US$1bn

Written by Global Cement staff 02 December 2024
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Nigeria: Holcim plans to sell Lafarge Africa to China-based Huaxin Cement for an equity value of US$1bn. The Switzerland-based building materials producer owns an 83% share of the subsidiary. The transaction is expected to close in 2025 subject to regulatory approvals.

Lafarge Africa operates four integrated cement plants in Nigeria at Sagamu and Ewekoro in Ogun State, at Mfamosing in Cross River State and the Ashaka Cement plant in Gombe State. It has a combined production capacity of 10.5Mt/yr. The company also holds a ready-mixed concrete production capacity of 0.4Mm3/yr. Its local recycling subsidiary, Geocycle, reported an alternative fuels thermal substitution rate of 37% in 2022.

Last modified on 04 December 2024
Published in Global Cement News
Tagged under
  • Nigeria
  • Huaxin Cement
  • Acquisition
  • Lafarge Africa
  • Holcim
  • Huaxin
  • Plant
  • GCW688
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