Disposal
04 July 2003 - 1:54AM
UK Regulatory
RNS Number:1400N
Lafarge
3 July 2003
Sale of Florida Cement operations by Lafarge North America
Lafarge North America Inc. (NYSE & TSE: LAF), a subsidiary of Lafarge, today
announced that it has signed a definitive agreement for the sale of its
wholly-owned subsidiary Lafarge Florida Inc. to Florida Rock Industries,Inc.
The sales price is approximately $122 million. The transaction is subject to
regulatory approval and is expected to close by the end of the third quarter,
2003.
Lafarge Florida Inc. is a profitable business that has performed well for many
years. However, as a stand-alone import operation, its long-term strategic fit
in Lafarge overall portfolio is limited. The operations of Lafarge Florida Inc.
consist primarily of two cement grinding and import facilities, one located in
Tampa and the other in Port Manatee, Florida. Net sales in 2002 associated with
these operations were approximately $89 million.
This transaction announced today by Lafarge North America contributes to
the Euro400 to Euro600 million asset disposal programme of Lafarge Group for 2003.
Lafarge is the world leader in building materials, and employs 77,000 people in
75 countries. The Group holds top-ranking positions in all four of its Divisions:
Cement, Aggregates & Concrete, Roofing and Gypsum. Lafarge posted sales of
Euro14.6 billion in 2002. More information is available on: www.lafarge.com
PRESS CONTACTS: INVESTOR RELATIONS:
Philippe Hardouin 33-1 44-34-12-68 James Palmer. 33-1 44-34-11-26
philippe.hardouin@lafarge.com james.palmer@lafarge.com
Veronique Doux 33-1-44-34-19-47 Daniele Daouphars: 33-1 44-34-11-51
veronique.doux@lafarge.com daniele.daouphars@lafarge.com
This information is provided by RNS
The company news service from the London Stock Exchange
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