Lafarge Nigeria unit acquires United Cement

Lafarge Nigeria has completed a 100% acquisition of Nigeria's third-largest cement manufacturer United Cement Company of Nigeria (UNICEM).

Lafarge have not disclosed the purchase price. The company announced that its affiliate Nigerian Cement Holdings (NCH), owned a 70% equity in UNICEM before agreeing a deal last November to purchase the remaining 30% stake from Flour Mills.

UNICEM cement plant, located in Cross Rivers, southeast Nigeria, has a production capacity of 2.5 million t and is currently undergoing an expansion to 5 million t set to be completed next year.

Edited from source by Joseph Green. Source: Reuters Africa

Read the article online at: https://www.worldcement.com/africa-middle-east/06102015/lafarge-nigeria-unit-acquires-united-cement-720/