Lafarge complete sale of Gypsum operations

European and South American Gypsum operations sold to Etex Group for €850 million

LAFARGE have announced the closing of the sale of their European and South American gypsum assets to Belgium-based Etex Group, specialists in dry building materials and systems.

Lafarge received net cash proceeds of €850 million for the sale and will also retain a 20% interest in the new joint-venture partnership, allowing them to participate in the future upside of the business with Etex Group.

Lafarge’s European and South American Gypsum business comprises 43 production facilities in 13 countries and in 2010 generated consolidated sales of €895 million.

Etex Group operate 121 production facilities in 44 countries and last year generated sales of €2.86 billion.