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News SOCAM Development to sell stake in Lafarge Shui On Cement

SOCAM Development to sell stake in Lafarge Shui On Cement

Written by Global Cement staff 03 March 2015
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China: SOCAM Development Ltd has agreed to sell its entire 45% stake in Lafarge Shui On Cement Ltd, its cement joint venture project, to its partner Lafarge for US$329m. Lafarge Shui On Cement has 32Mt/yr of cement production capacity in southwest China, in Yunnan, Sichuan, Guizhou and Chongqing Provinces. The sale would make Lafarge Shui On Cement a wholly-owned subsidiary of Lafarge.

SOCAM Development, which has been seeking to sell its cement operations since 2013, said that the disposal would allow it to focus on its construction business and to capture opportunities arising from a massive public housing programme recently announced by the Hong Kong government.

Last modified on 04 March 2015
Published in Global Cement News
Tagged under
  • China
  • SOCAM Development
  • Lafarge
  • Lafarge Shui On cement
  • Acquisition
  • GCW190

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