Lafarge and Strabag create Central Europe joint venture
Lafarge, the world leader in building materials, and STRABAG, Central and Eastern Europe’s largest construction company, are combining their cement activities in several countries of Central Europe.
The two companies signed an agreement on May 25, 2010 creating the holding company Lafarge Cement CE Holding GmbH.
The new company will have its headquarters in Austria.
Lafarge will bring its cement plants at Mannersdorf and Retznei in Austria, Cížkovice in Czech Republic and Trbovlje in Slovenia into the holding, while STRABAG will contribute the plant it is currently building in Pécs in Hungary. Lafarge then will hold a 70% interest in the new company, while STRABAG will hold 30%. As a result of this transaction, Lafarge debt will be reduced by EUR77.5m.
Published under Cement News
