Ecuador: Lafarge has announced the sale of its cement operations in Ecuador for an enterprise value of US$553m to Union Andina de Cementos (UNACEM). Lafarge Cementos SA operates an integrated cement plant with a production capacity of 1.4Mt/yr in Otavalo.
The divestment will contribute to Lafarge's objective to reduce its net debt below Euro9bn in 2014. The transaction is subject to customary closing conditions.