Lafarge announces the sale of its subsidiary's North American Gypsum assets at an enterprise value of 700 million US dollars (533 million euros) to an affiliate of Lone Star Funds.
Lafarge North America's Gypsum division manufactures gypsum wallboards and joint compounds throughout a network of plants in the United States and Canada. In 2012, these operations generated sales of 310 million US dollars. As a reminder, these operations were classified as assets held for sale in the Lafarge's consolidated balance sheet since 2011.
This operation completes the group focus on its core businesses: Cement, Aggregates and Ready-mix Concrete. Lafarge maintains notably a 20% participation in the JV created with Etex which combined the assets of both groups in Europe and South America.
This transaction, which is expected to close very soon, is subject to the satisfaction of customary closing conditions.
NOTES TO EDITORS
A world leader in building materials, Lafarge employs 65,000 people in 64 countries, and posted sales of €15.8 billion in 2012. 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. Since 2010, the Lafarge Group has been part of the Dow Jones Sustainability World Index, the first global sustainability benchmark in recognition of its sustainable development actions.