January 8, 2013 / 10:21 PM / 5 years ago

France's Lafarge in cement venture in Mexico

PARIS, Jan 8 (Reuters) - French cement maker Lafarge said on Tuesday it had agreed with Mexican consortium Elementia to combine their cement assets in Mexico.

Lafarge will bring its two plants of Vito and Tula for a total capacity close to 1 million tonnes while Elementia will contribute the new 1 million tonnes plant it is currently building in central Mexico, the statement said.

The transaction, which involves no cash and is subject to regulatory approvals, is expected to close in the second-half 2013, pursuant to the start up of the new plant of Elementia.

The new joint-venture will be 47 percent held by Lafarge and 53 percent by Elementia.

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