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Lafarge to divest 50% stake in Lafarge Titan Joint Venture in Egypt
Lafarge to divest 50% stake in Lafarge Titan Joint Venture in Egypt
- 19th May 2008
- Materials Handling
Lafarge announced today the sale of its 50% stake in Lafarge Titan in Egypt to its joint venture partner Titan, for 330 million euros (including debt of around 20 million euros).
Lafarge Titan Egypt was created in 1999 as a 50/50 joint venture between Lafarge and the Greek group Titan, and owns two cement plants in Egypt - in Alexandria and Beni Suef - with a total capacity of 3.1 million tonnes.
Following this transaction, Lafarge remains a leading player in the fast-growing Egyptian building materials sector. Since the acquisition of Orascom Cement, Lafarge is present in Egypt through the control of Egyptian Cement Company, which has a plant with a capacity of 10 million tons. Lafarge also operates 11 readymix concrete plants and 3 aggregates quarries in the country.
Other news articles from Lafarge Aggregate (UK) Ltd (Bungay)
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Lafarge places a 350 million pound sterling bond and privately a 250 million euro bond- Lafarge announces the divestment of its Cement, Concrete and Aggregates activities in Marmara & West Black Sea regions in Turkey for € 163 million
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Lafarge acquires a 35% stake in the Meftah Cement Plant in Algeria, as part of the privatization process
LAFARGE ACQUIRES L&T CONCRETE TO BECOME THE LEADER
Lafarge signs binding agreement with CBMI, a Chinese Equipment Supplier, for the construction of Six Cement Plants- Lafarge acquires Orascom Cement, the leading cement group in the Middle East and Mediterranean Basin.
- Lafarge Signs Strategic Cooperation Agreement with Government of Yunnan Province, China, to boost its expansion in a fast growing market
- Accelerating innovation in concrete: Lafarge inaugurates a unique new research facility
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- Lafarge and Paris Plages renew their partnership
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