Huaxin Cement bought Lafarge cement

Swiss multinational Holcim has announced its decision to exit Nigeria after more than six decades of operations giving it to Huaxin cement company from china to take the lead

Huaxin Cement Bought Lafarge cement company in Nigeria.

The company plans to sell its 83.8% stake in Lafarge Africa Plc to China’s Huaxin Cement in a deal valued at $1 billion.

This transaction, expected to close by 2025 pending regulatory approval, aligns with Holcim’s global strategy to streamline its portfolio and focus on high-growth markets and sustainable innovations.

Which company was in charge of Lafarge cement company?

Holcim has been divesting assets in less strategic regions, including its 2021 sale of a majority stake in Zambia to china Cement company

 

Which state is Huaxin Company located ?

Since the existence of Huaxin Cement in Nigeria its operations states include plants in Ogun, Cross River, and Gombe states, with a combined annual production capacity of 10.5 million tons. Lafarge Africa, formerly known as West African Portland Cement Company (WAPCO), has been a major player in Nigeria’s construction industry since 1959. The company is known for its popular cement brands such as Elephant Cement and Supaset.

How old is China Cement Company From china

For Huaxin Cement, a 116-year-old industry leader in China, this acquisition strengthens its foothold in Africa by leveraging Lafarge Africa’s established operations in one of the continent’s largest markets.

Meanwhile, Holcim plans to refocus on high-margin products and innovations in sustainable construction, including low-carbon cement.

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