Euronext: LG, NYSE: LR
Lafarge announces the renewal of its partnership with the European Bank for Reconstruction and Development (EBRD). The new partnership extends the multi-project framework agreement signed between Lafarge and EBRD in 1996, which resulted in joint investments by the EBRD and Lafarge in development projects in Poland, Romania and Slovenia.
EBRD has committed up to 70 million euros for the development of Lafarge's activities in Russia, initially to modernise and develop two cement plants located in the Moscow and Tcheliabinsk (Urals) regions, with a total production capacity of 4 million tonnes. This is the first time the EBRD has invested in Russia alongside an international manufacturer in the cement sector.
With the renewal of this framework agreement, the geographic scope has been extended to include the countries of Central Asia, and the EBRD's maximum budget for investment in Lafarge projects in the region has been increased to a total of 300 million euros through year-end 2009.
Lafarge is the world leader in building materials, with top-ranking positions in all four of its businesses: Cement, Aggregates & Concrete, Roofing and Gypsum. With 80,000 employees in 76 countries, Lafarge posted sales of Euros 16 billion in 2005.
Lafarge has been committed to sustainable development for many years, pursuing a strategy that combines industrial know-how with performance, value creation, respect for employees and local cultures, environmental protection and the conservation of natural resources and energy. Lafarge is the only company in the construction materials sector to be listed in the 2006 ‘100 Global Most Sustainable Corporations in the World'. To make advances in building materials, Lafarge places the customer at the heart of its concerns. It offers the construction industry and the general public innovative solutions bringing greater safety, comfort and quality to their everyday surroundings.
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Statements made in this press release that are not historical facts are forward-looking statements made pursuant to the safe harbor provisions of the Private Securities Litigation Reform Act of 1995. These statements are not guarantees of future performance and involve risks, uncertainties and assumptions ("Factors"), which are difficult to predict. Some of the Factors that could cause actual results to differ materially from those expressed in the forward-looking statements include, but are not limited to: the cyclical nature of the Company's business; national and regional economic conditions in the countries in which the Group does business; currency fluctuations; seasonal nature of the Company's operations; levels of construction spending in major markets; supply/demand structure of the industry; competition from new or existing competitors; unfavorable weather conditions during peak construction periods; changes in and implementation of environmental and other governmental regulations; our ability to successfully identify, complete and efficiently integrate acquisitions; our ability to successfully penetrate new markets; and other Factors disclosed in the Company's public filings with the French Autorité des Marchés Financiers and the US Securities and Exchange Commission including its Reference Document and annual report on Form 20-F. In general, the Company is subject to the risks and uncertainties of the construction industry and of doing business throughout the world. The forward-looking statements are made as of this date and the Company undertakes no obligation to update them, whether as a result of new information, future events or otherwise.