Holcim, the world's biggest building materials company, has signed an agreement with Chinese industry major Huaxin Cement to sell its entire 83.81% shareholding in Lagos, Nigeria-headquartered Lafarge Africa at an equity value of US$1 billion on a 100% basis.
The transaction is expected to close in 2025, subject to customary and regulatory approvals.
With four plants in Nigeria spread across Sagamu and Ewekoro, Ogun State (South-West), Ashaka, Gombe State (North-East) and Mfamosing, Cross River State (South-South), Lafarge Africa currently has an installed cement production capacity of 10.5 million tonnes per annum.
Lafarge Africa’s full range of high-quality mortar products includes TectorPlast I (ready-to-use plastering mortar) and Tector Plast II (waterproof mortar ready to use). The business’s mortar division has products for floor screed, floor tiling, wall screed, and wall tiling. The wall tiling products can support heavy wall tiles, including marble tiles.
A global leader in innovative and sustainable building solutions, Holcim posted net sales of CHF 27 billion ($30.61bn) in 2023. The company says its 63,448 employees are driven by “our purpose to build progress for people and the planet across our regions to improve living standards for all.”
Holcim partners with its customers to offer the broadest range of advanced solutions, from sustainable building materials ECOPact and ECOPlanet, to our circular technology ECOCycle, all the way to Elevate’s advanced roofing and insulation systems.
Headquartered in Wuhan, Huaxin Cement operates across over 300 branches and subsidiaries within China and overseas, working across multiple sectors, such as cement, concrete and environmental protection.
