Lafarge announces the sale of its cement operations in Ecuador for an enterprise value of $553 million (equivalent to 405 million euros) to Union Andina de Cementos S.A.A. (UNACEM).
Lafarge Cementos SA operates an integrated cement plant of 1.4 million tons capacity, located in Otavalo, in the North of the country.
This divestment will contribute to Lafarge's objective to reduce net debt below 9 billion euros in 2014.
This transaction is subject to customary closing conditions.
NOTES TO EDITORS
A world leader in building materials, Lafarge employs 64,000 people in 62 countries, and posted sales of €15.2 billion in 2013. As a top-ranking player in its Cement, Aggregates and Concrete businesses, it contributes to the construction of cities around the world, through its innovative solutions providing them with more housing and making them more compact, more durable, more beautiful, and better connected. With the world's leading building materials research facility, Lafarge places innovation at the heart of its priorities in order to contribute to more sustainable construction and to better serve architectural creativity.