Lafarge announce European disposals
Aggregates and concrete assets in Portugal, France and Switzerland sold for EUR 120 million
LAFARGE have announced two significant European disposals totalling around €120 million, as part of their 2010 divestment plan.
The company has disposed of its entire Aggregates & Concrete business in Portugal, which comprises 29 ready-mixed concrete plants and four aggregates quarries, to the Portuguese construction group Secil. This transaction is subject to approval by the Portuguese competition authorities.
In addition, Lafarge have sold their Aggregates & Concrete (A&C) businesses in Alsace (eastern France) and Switzerland, which include eight ready-mixed concrete plants (four in Alsace and four in the Basle area of Switzerland) and eight aggregates pits and quarries in Alsace.
The Swiss-based concrete operations have been sold to Holcim Switzerland, while the French-based A&C activities have been sold to Eiffage Travaux Publics and Holcim France. Both disposals became effective on 31 December 2010.
Lafarge say these moves are part of the Group’s divestment plan, exceeding the target of €500 million of divestments during the year.