Lafarge Corporation, the North American subsidiary of the Lafarge Group, has acquired 100% of the stock of Corn Construction Co. from a group of private shareholders. Corn Construction is a leader in the aggregates and asphalt paving business in New Mexico and Colorado.
The company has nine portable plants that produce both construction and asphalt aggregates. With 1.2 million tons of annual aggregates sales, this acquisition will bring the total annual volume of Lafarge Group aggregates sales in New Mexico and Southern Colorado to 4.8 million tons. The operation also gives Lafarge a network of leases on 33 aggregate quarries in the two states.
The American construction materials market is now upwardly poised. Following last year's passage of the Transportation Equity Act of the 21st Century (TEA-21), annual federal spending for transportation projects in New Mexico is expected to grow 45% on average, through the year 2003.
In 1998, North American share of Lafarge sales rose to FRF 16 billion (2.45 billion euros), which is 25% of total Group sales. World leader in construction materials, LAFARGE employs 66,000 people throughout 65 countries and generates total sales of FRF 64.3 billion (9.8 billion euros).
So the world builds better