Lafarge to invest in Korea

12 October 1998

Under the terms of agreements signed Saturday, October 10th, with two groups, DONGBU and BUKSAN, LAFARGE will acquire a position on the South Korean Gypsum wallboard market, in particular with the purchase of two plants located at Yosu and Ulsan, two towns in the southern part of South Korea close to the major port-city of Pusan. The price paid for of these two plants will amount to 95 million US dollars.
The South Korean wallboard market (115 million m² in 1997) is the second largest in the region behind Japan. In spite of the current economic climate, the prospects for recovery and growth are good.
This acquisition will be completed very shortly, once the necessary authorisations have been obtained.

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