World leader in building materials, LAFARGE, in association with Philippine partners, has just signed agreements for the purpose of making major acquisitions in the Philippines. The total amount of the commitment reaches 460 million US dollars.
With four plants (three cement plants and one grinding plant), the two companies involved (CONTINENTAL and SEACEM) represent an overall production capacity of 4.6 million metric tons in 1999. These plants supply the country's largest markets since three of them are supplying that of the Manila region and the fourth plant supplies that of Cebu, the second largest city in the Philippines.
As a result of these acquisitions, LAFARGE, in association with its local partners, will become the second largest cement manufacturer in the Philippines, with a leading position in the capital's market.
The Philippine cement market has expanded considerably in recent years and in 1998 is expected to stabilize at around 14 million metric tons. Given the size of local requirements and the country's economic dynamism, the potential for growth is especially high.
LAFARGE also has a presence in the Philippines in the field of specialty products (admixtures and sealing products) as well as roofing products (a concrete roofing tile plant, currently under construction, is scheduled for start-up before the end of the year).
These investments form part of the Group's development program in emerging countries and particularly in the Asia-Pacific zone.
Yves Romestan (+33 1 44 34 11 02)
Nathalie Esseau-Carius (+33 1 44 34 19 47)
So the world builds better