BUSINESS

Ireland’s CRH buys Lafarge cement plants

Ireland’s CRH, a producer of construction materials, has announced that it has reached an agreement on buying assets worth EUR 6.5 bln (USD 7.3 bln) put up for sale by Lafarge and Holcim, Bloomberg and Reuters inform. The transaction includes all Lafarge operations in Romania, Agerpres informs.

This is CRH’s biggest transaction ever, the company being set to become the third-largest construction materials company in the world based on stock market capitalization.

The sale of assets in Europe, Canada and other regions is a precondition for France’s Lafarge and Switzerland’s Holcim to obtain the regulatory authorities’ approval for their merger, a merger that will generate the biggest world producer of cement, with a turnover of EUR 34 bln (USD 44 bln), Agerpres informs.

Lafarge will give up all its business operations in Germany and Romania, the EU announced. In Romania, Lafarge has been producing construction materials for over 15 years and is active in the cement, aggregates and concrete sector with over 40 industrial establishments that have over 1,000 employees or contractors.

 

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