LafargeHolcim to sell China cement assets to Huaxin
Published by Joseph Green,
Editor
World Cement,
Reuters has reported that LafargeHolcim has agreed to sell most of the non-listed Chinese cement assets of Lafarge China Cement to Huaxin Cement Co Ltd for an estimated 208 million Swiss francs (US$215 million).
"Following our announcement earlier this week to divest our listed entity Shuangma, this transaction is a further important step towards streamlining our operations in China," Chief Executive Eric Olsen announced in a statement.
The sale of 13 cement plants and four grinding stations with an annual cement capacity of 18 million t, which requires regulatory and other approvals, would reduce net debt by 376 million francs.
Edited from source by Joseph Green. Source: Reuters
Read the article online at: https://www.worldcement.com/asia-pacific-rim/17082016/lafargeholcim-sell-china-cement-assets-huaxin-101/
You might also like
The World Cement Podcast
In this special joint episode of the World Cement Podcast, and Cementing Europe’s future, the podcast of CEMBUREAU, David Bizley and Koen Coppenholle take a deep dive into the Clean Industrial Deal and a discussion of what it means for the European cement industry.
Listen for free today at www.worldcement.com/podcasts or subscribe and review on your favourite podcast app.
Heidelberg Materials unveils CCS facility in Norway
Festive opening of Brevik CCS in Norway, the world’s first industrial-scale carbon, capture, and storage (CCS) facility in the cement industry.
