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Lafarge SA Announces Creation Of Joint Venture With Elementia To Combine Their Cement Assets In Mexico

Tuesday, 8 Jan 2013 04:51pm EST 

Lafarge SA announced that it has reached an agreement with Elementia to combine their cement assets in Mexico. Lafarge will bring its two plants of Vito and Tula for a total capacity close to 1mT, while Elementia will contribute the new 1mT plant it is building in central Mexico. This combination will significantly strengthen Lafarge's position in Mexico. The transaction, which involves no cash and is subject to regulatory approvals, is expected to close in H2 2013, pursuant to the start up of the new plant of Elementia. The new joint venture formed will be 47% held by Lafarge and 53% by Elementia, which will consolidate the JV's financial results fully. The JV will therefore be incorporated by Lafarge as an equity affiliate. 

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-0.26 -0.49%
24 Oct 2014