Lafarge sell gypsum operations in North America

Company’s US and Canadian gypsum assets sold for a total enterprise value of US$700 million

LAFARGE have announced the sale of their North American subsidiary’s gypsum assets at an enterprise value of US$700 million (€533 million) to an affiliate of Lone Star Funds.

Lafarge North America’s Gypsum division manufactures gypsum wallboards and joint compounds throughout a network of plants in the US and Canada.

In 2012, these operations – which have been classified as assets held for sale in Lafarge’s consolidated balance sheet since 2011 – generated sales of US$310 million.

Lafarge say this operation completes the Group’s focus on its core businesses: Cement, Aggregates and Ready-mix Concrete.

The transaction, which is expected to close soon, is subject to the satisfaction of customary closing conditions.

Lafarge maintain a 20% participation in the joint venture created with Etex, which combined the assets of both groups in Europe and South America.