Lafarge Shui On Cement is set to become a wholly-owned subsidiary of LafargeHolcim, with the announcement that Lafarge has signed an agreement to acquire the 45% stake in the Chinese JV held by SOCAM Development Limited. The HK$2553 million deal is subject to the completion of the merger with Holcim.
Lafarge Shui On Cement has a total cement production capacity of 32 million t in Southwest China – in the provinces of Yunnan, Sichuan, Guizhou and Chongqing. This transaction is subject to the approval of the shareholders of SOCAM.
Adapted from press release by Katherine Guenioui
Read the article online at: https://www.worldcement.com/asia-pacific-rim/03032015/lafargeholcim-to-acquire-lafarge-shui-on-cement-434/