Lafarge sells Ukrainian cement business to CRH

Mykolaiv Cement in Ukraine has changed hands, having been acquired from Lafarge by CRH plc. The company, comprising a single wet process cement plant in the Lviv region, represents the entirety of Lafarge’s cement operations in the country, though the Group remains present in the market through three aggregates quarries serving Ukraine, Russia and Poland. The agreed price, including debt assumed, was €96 million. The transaction is subject to regulatory approval, but it is expected to be complete by the end of the year.

With this acquisition, CRH becomes the market leader in Ukraine, having entered the country in 1999 with the acquisition of Podilsky Cement. In 2011, CRH upgraded that facility to the dry process and a clinker capacity of 2.3 million tpa. In the same year, CRH acquired a majority stake in Odessa Cement.

Edited from various sources by Katherine Guenioui.

Read the article online at: https://www.worldcement.com/europe-cis/26042013/lafarge_sells_ukrainian_operations_to_crh_167/