+
Holcim to Sell Lafarge Africa Stake to Huaxin Cement for $1 Billion
Cement

Holcim to Sell Lafarge Africa Stake to Huaxin Cement for $1 Billion

Swiss cement maker Holcim announced plans to exit its Nigerian business by selling its nearly 84 per cent stake in Lafarge Africa to China's Huaxin Cement in a $1 billion deal. The company stated that the move aligns with its strategy to streamline its portfolio and prioritize high-growth regions. This includes the upcoming spin-off of its North American operations, which is set for a US listing in the first half of 2025.

Holcim mentioned that the transaction, subject to regulatory approval, is expected to conclude in 2025, but did not specify the reasons behind the decision to sell its Nigerian operations. Last November, the company revealed it had signed agreements to divest its businesses in Uganda and Tanzania, emphasizing that these moves support its strategy to strengthen leadership in core markets and promote innovative, sustainable building solutions.

Huaxin Cement’s acquisition in Nigeria follows a series of African investments by the Chinese company. In 2021, Huaxin acquired a 75 per cent stake in Lafarge Zambia and the entirety of Lafarge Cement Malawi. Last year, it also announced the purchase of South Africa's Natal Portland Cement Company.

Holcim has been focusing on sustainable growth, higher-margin products, and infrastructure investments while enhancing its environmental initiatives. In September, the company took a stake in Sublime Systems, a US-based tech start-up developing low-carbon cement. In October, Holcim reported a recurring operating profit of 1.67 billion Swiss francs for the third quarter, slightly exceeding expectations.

Swiss cement maker Holcim announced plans to exit its Nigerian business by selling its nearly 84 per cent stake in Lafarge Africa to China's Huaxin Cement in a $1 billion deal. The company stated that the move aligns with its strategy to streamline its portfolio and prioritize high-growth regions. This includes the upcoming spin-off of its North American operations, which is set for a US listing in the first half of 2025. Holcim mentioned that the transaction, subject to regulatory approval, is expected to conclude in 2025, but did not specify the reasons behind the decision to sell its Nigerian operations. Last November, the company revealed it had signed agreements to divest its businesses in Uganda and Tanzania, emphasizing that these moves support its strategy to strengthen leadership in core markets and promote innovative, sustainable building solutions. Huaxin Cement’s acquisition in Nigeria follows a series of African investments by the Chinese company. In 2021, Huaxin acquired a 75 per cent stake in Lafarge Zambia and the entirety of Lafarge Cement Malawi. Last year, it also announced the purchase of South Africa's Natal Portland Cement Company. Holcim has been focusing on sustainable growth, higher-margin products, and infrastructure investments while enhancing its environmental initiatives. In September, the company took a stake in Sublime Systems, a US-based tech start-up developing low-carbon cement. In October, Holcim reported a recurring operating profit of 1.67 billion Swiss francs for the third quarter, slightly exceeding expectations.

Related Stories

Gold Stories

Next Story
Infrastructure Transport

97 Per Cent Of Rongjeng-Mangsang-Adokgre Road Nears Completion

Deputy Chief Minister in-charge of public works Prestone Tynsong said in Shillong on 26 August that 97 per cent physical progress had been achieved on the ongoing Rongjeng-Mangsang-Adokgre road being constructed under the Non-Lapsable Central Pool of Resources (NLCPR). He noted the project was sanctioned in 2017 and that the stipulated time for completion had been 24 months from issue of the final work order. The deputy chief minister informed the assembly that the government had decided to include the remaining work under a World Bank project. In reply to a query from Rongjeng MLA Jim M Sangm..

Next Story
Infrastructure Transport

First TBM Starts Digging Five Point Three Kilometre Tunnel Under SGNP

The Goregaon-Mulund Link Road (GMLR) Phase three (B) project has reached a key milestone as the first tunnel boring machine (TBM) began excavation of the first of two tunnels beneath the Sanjay Gandhi National Park (SGNP). The machine, named Tulsi, started cutting a five point three kilometre bore that will link Dadasaheb Phalke Chitranagari in Goregaon East with Amar Nagar in Mulund West. Officials issued a statement noting the commencement of tunnelling work under the protected green belt. The twin tunnels are being constructed using mechanised tunnelling methods that aim to limit surface di..

Next Story
Infrastructure Transport

UP Approves Two Expressways And Rs 240 bn Infrastructure Push

The Uttar Pradesh Cabinet approved a series of infrastructure and industrial investment proposals totalling Rs 240 billion (Rs 240 bn), including two major expressway projects, a manufacturing and logistics cluster in Sultanpur and incentives for 11 industrial projects across the state. The decisions, taken at a meeting chaired by Chief Minister Yogi Adityanath, underline the state government’s focus on expanding road connectivity around emerging industrial hubs while attracting manufacturing investment to districts beyond major urban centres. The approvals cover both greenfield expressway c..

Advertisement

Subscribe to Our Newsletter

Get daily newsletters around different themes from Construction world.

STAY CONNECTED

Advertisement

SPECIAL OFFER
QR Code