Lafarge has today announced the acquisition of a 35% stake in the Meftah cement plant, which is very well positioned in the Algiers market, together with a 10-year management contract. The cost of the investment amounts to €43.5 million.
An investment program will be put into place to modernize the Meftah cement plant, to increase its capacity from 0.8 million to 1.1 million tonnes by 2010 and improve the plant's environmental performance. This project will be accompanied by a major training program for the plant's employees.
This development will allow the Group to participate in the presidential housing and infrastructure program and to meet the very strong demand for cement arising from the country's development requirements.
With a leadership position in Algeria in each of its businesses - Cement, Aggregates & Concrete, and Gypsum, Lafarge continues to pursue its development in this fast-growing and high-potential market.
Notes to editors
Lafarge in Algeria
Lafarge holds a leadership position in Cement and Aggregates & Concrete in Algeria following its acquisition of Orascom Cement in January. With two plants boasting a cement capacity of 8 million tonnes, 6 concrete plants, 5 quarries and a plasterboard facility, Lafarge employs 2,100 staff in Algeria.
Lafarge is the world leader in building materials, with top-ranking positions in all of its businesses: Cement, Aggregates & Concrete and Gypsum. With 90,000 employees in 76 countries, Lafarge posted sales of Euros 17.6 billion and net income of Euros 1.9 billion in 2007.
Lafarge is the only company in the construction materials sector to be listed in the 2008 ‘100 Global Most Sustainable Corporations in the World'. 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. 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.