Lafarge has reached an agreement with Elementia to combine their cement assets in Mexico. Lafarge will bring its two plants of Vito and Tula for a total capacity close to 1 million tonnes while Elementia will contribute the new 1 million tonneplant it is currently building in central Mexico. Lafarge says this combination will significantly strengthen its position in Mexico. The transaction, which involves no cash and is subject to regulatory approvals, is expected to close in H2, 2013, pursuant to the star
Lafarge has reached an agreement with Elementia to combine their cement assets in Mexico.
Lafarge will bring its two plants of Vito and Tula for a total capacity close to 1 million tonnes while Elementia will contribute the new 1 million tonneplant it is currently building in central Mexico.
Lafarge says this combination will significantly strengthen its position in Mexico. The transaction, which involves no cash and is subject to regulatory approvals, is expected to close in H2, 2013, pursuant to the start-up of the new plant of Elementia.
The new joint venture formed will be 47% held by Lafarge and 53% by Elementia, which will consolidate the jv’s financial results fully, and it will therefore be incorporated by Lafarge as an equity affiliate.
