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.
Having announced acquisitions in Eastern Canada this week, Lafarge has announced it will expand capacity at its precast operations in northern Alberta.
Lafarge Republic, Inc. has established a Cement School at its Teresa plant and announced the inauguration of a refuse-derived fuel facility to generate energy from municipal solid waste.
Lafarge has announced that it is to continue slashing its debt in 2012, with plans to sell assets worth over €1 billion, following a decline in full year operating income.