Lafarge has announced the closing of the sale to Votorantim of assets owned formerly by Blue Circle Industries PLC in the North American Great Lakes area for a total amount of about USD 725 million (approximately Euro 828 million). As already outlined in the Lafarge press release dated 23 May 2001, these assets include:
- 2 cement plants (Bowmanville and St Marys in the province of Ontario);
- a grinding station in Detroit, Michigan;
- 7 cement terminals on the US side of the Great Lakes;
- 39 ready-mix concrete plants in the province of Ontario;
- some of Blue Circle aggregates assets also in the province of Ontario, representing about 4 MT of annual sales.
Lafarge wishes to note with great appreciation the efficiency and speed with which the Federal Trade Commission reviewed the application for divestiture.
Headquarted in Sao Paulo, Votorantim is the market leader in Brazil for cement and one of the ten largest cement producers in the world. It has 16 cement plants with a production capacity of 25 MT per year. Votorantim, which had revenues of nearly USD 4 billion in 2000, is also involved in many other businesses including pulp and paper and metals.
Lafarge is world leader in building materials. It has 85.000 employees in 75 countries. Lafarge is world number one in Cement and holds top-ranking positions in its three other Divisions: Aggregates & Concrete, Roofing and Gypsum. In 2000, Lafarge recorded sales of Euro 12.2 billion.