Lafarge Africa completes consolidation of Nigerian and South African assets

According to local press reports, Lafarge Africa Plc has completed its consolidation exercise, which involved the merging of its Nigerian and South African assets. Guillaume Roux, Chief Executive Officer of Lafarge Group Africa, told press in Lagos that, after receiving all shareholder and regulatory approvals, the company has acquired Lafarge group’s shareholdings in Lafarge South Africa Holdings (Pty) Limited, United Cement Company of Nigeria Limited, through Egyptian Cement Holding BV, AshakaCem Plc and Atlas Cement Company Limited.

The consolidated business will be better positioned to serve its customers more widely and to provide new goods and services, Roux noted. The transaction is also expected to drive the company’s growth and development plans throughout the continent. Lafarge Africa has a current installed cement production capacity of around 12 million tpa, comprising: Lafarge Africa (4.5 million t), Lafarge South Africa Holdings (3.6 million t), United Cement Company of Nigeria (2.5 million t), Ashaka Cement (1 million t) and Atlas Cement Company (bagging capacity of 500 000 t). With a number of expansion projects underway, installed capacity is expected to increase to some 18 million t by 2017.

Edited from various sources by Rosalie Starling

Sources

• The Guardian
• This Day Live

Read the article online at: https://www.worldcement.com/africa-middle-east/16092014/lafarge-africa-completes-consolidation-of-nigerian-and-south-african-assets-485/