Lafarge announces 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 currently 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.
Notes to editors
Located in 64 countries with 68,000 employees, Lafarge is a world leader in building materials, with top-ranking positions in its Cement, Aggregates & Concrete businesses. In 2011, Lafarge posted sales of 15.3 billion euro.
Since 2010, the Lafarge Group has been part of the Dow Jones Sustainability World Index, the first global sustainability benchmark, in recognition of its sustainable development actions. With the world's leading building materials research facility, Lafarge places innovation at the heart of its priorities, working for sustainable construction and architectural creativity.
A Mexican consortium that brings together leading companies in the construction and industrial sectors, to provide high-tech solutions in the fields of cement, concrete, polyethylene, styrene and copper. Elementia consists of four divisions: Metals, Construction systems, Plastic and Cement.
It has a commercial presence in over 40 countries in the Americas and Europe, with more than 5,000 distribution points.