Lafarge sell cement operations in Ecuador

Union Andina de Cementos S.A.A. (UNACEM) acquires Otavalo cement operations for US$533 million

LAFARGE have sold their cement operations in Ecuador for an enterprise value of US$553 million (c.€405 million) to Union Andina de Cementos S.A.A. (UNACEM).

Lafarge Cementos SA operate an integrated cement plant of 1.4 million tons capacity, located in Otavalo, in the north of the country.

The divestment will contribute to Lafarge’s objective to reduce net debt to below €9 billion in 2014.

The transaction is subject to customary closing conditions.