Holcim to Sell Majority Stake in Lafarge Africa to Huaxin Cement for $1 Billion
Switzerland-based building materials giant, Holcim, has announced plans to divest its 83% majority stake in Lafarge Africa to China’s Huaxin Cement for a valuation of $1 billion. The deal, which is subject to regulatory approvals, is set to be finalized in 2025.
Lafarge Africa, a subsidiary of Holcim, operates four integrated cement plants in Nigeria. These facilities are located in Sagamu and Ewekoro in Ogun State, Mfamosing in Cross River State, and Ashaka Cement in Gombe State. Combined, these plants have a total production capacity of 10.5 million tons per year, making Lafarge Africa a key player in the Nigerian cement industry.
In addition to its cement production capabilities, Lafarge Africa also has a ready-mixed concrete production capacity of 0.4 million cubic meters per year. The company’s local recycling arm, Geocycle, has been successful in achieving a thermal substitution rate of 37% for alternative fuels in 2022, showcasing its commitment to sustainability and environmental responsibility.
