The offer made by LAFARGE on November 7th 1998 for the entire capital of its Romanian subsidiary LAFARGE ROMCIM closed last Thursday 26th November.
The Group, the Worlds leading construction materials manufacturer, acquired nearly 6.3 million shares through the operation increasing its holding in the subsidiary substantially : LAFARGE now holds 40% of the capital itself and 51% through LAFARGE ROMANIA (62% controlled by LAFARGE).
The transaction reaches a total cost of approximately US$ 49 million.
In 1997, LAFARGE ROMCIM, Romania largest cement manufacturer, reached sales of US$ 150 million. The Company which operates four high capacity plants (Medgidia, Tirgu Jiu, Hoghiz and Alesd), each using modern technology, also has interests in lime and gypsum operations. Its national cement market share is about 40%.
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