Lafarge sell gypsum operations in North America
Company’s US and Canadian gypsum assets sold for a total enterprise value of US$700 million
LAFARGE have announced the sale of their North American subsidiary’s gypsum assets at an enterprise value of US$700 million (€533 million) to an affiliate of Lone Star Funds.
Lafarge North America’s Gypsum division manufactures gypsum wallboards and joint compounds throughout a network of plants in the US and Canada.
In 2012, these operations – which have been classified as assets held for sale in Lafarge’s consolidated balance sheet since 2011 – generated sales of US$310 million.
Lafarge say this operation completes the Group’s focus on its core businesses: Cement, Aggregates and Ready-mix Concrete.
The transaction, which is expected to close soon, is subject to the satisfaction of customary closing conditions.
Lafarge maintain a 20% participation in the joint venture created with Etex, which combined the assets of both groups in Europe and South America.
