Lafarge has concluded the sale of a majority stake in its Specialty Products Division to the investment funds CVC Capital Partners and Advent International, after receiving approval from the European Commission.
The agreement confirms the sale of all the Specialty Products Division's Businesses with the exception of the Road Marking Business, the European operations of which were sold to the Burelle group in November 2000, and the Lime Business, of which the largest part is in joint venture with Carmeuse in the United States.
Under the terms of the agreement, Lafarge retains a 33.34% interest in MATERIS, the name of the newly created company. Continuity will be assured by the management team of the former Specialty Products Division.
MATERIS employs 4,500 people and operates in nearly 50 countries. The company generated sales of Euros 1.1 billion in 2000 through its businesses in admixtures, aluminates, mortars, paints and refractories.
Lafarge is world leader in building materials, and employs 66,000 people in more 70 countries. The Group recorded sales of more than Euros 12.2 billion in 2000.
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