Lafarge buys Indian concrete giant for 226 million euros

< P > Business Wire, Paris, May 14, 2008-As part of its strategy to grow its aggregates and concrete business in emerging markets, Lafarge today announced the acquisition of L & & T for an enterprise value of 226 million euros. Concrete。 Lafarge will acquire 66 high-efficiency concrete plants in key markets across India, including Delhi, Kolkata, Mumbai and Bangalore, with an estimated total capacity of 4.1 million cubic meters in 2008 and a market share of about 25%. The acquisition will increase Lafarge's earnings per share from 2009. With this acquisition, Lafarge will become a leading player in the ready-mix concrete market in India.

< P > The ready-mixed concrete market in India is still at an early stage of development, but has great potential for growth and value creation. The Indian construction market is evolving to meet the huge demand for new homes, urbanisation and infrastructure.  

< P > The acquisition marks an important step in Lafarge's strategy to expand its aggregates and concrete business in emerging markets. This will provide an excellent platform for the group to further expand its aggregates and concrete business in the rapidly growing Indian market with a highly experienced team.  

< P > India has great potential to absorb innovative products. Lafarge is proud of its world-leading building materials research facility and, over the past decade, has developed innovative value-added concrete products that improve construction methods and working conditions on construction sites. One of Lafarge's strategic priorities today is concrete innovation, which has enabled the accelerated introduction of value-added concrete products in both developed and emerging markets. Lafarge's goal is to provide the Indian market with its most advanced and value-creating construction solutions.  

< P > Bruno, Chairman and CEO of Lafarge & nbsp; Lafont declares: "Lafarge was the first in the industry to make a big push into aggregates and concrete more than 10 years ago and has developed a unique skill set to create value in the concrete business.". With this acquisition, we are at the forefront of the emerging Indian market.  

< P > The acquisition follows the commissioning of Lafarge's first newly invested ready-mix concrete plant in Raipur, Chhattisgarh, and marks a decisive step in expanding Lafarge's presence in the Indian ready-mix concrete market.  

< P > Lafarge already has other operations in India and is investing to scale up its Indian operations to accommodate market growth. In terms of cement, Lafarge has become a major supplier in eastern India, with a cement production capacity of 5.5 million tons, and has a strategic plan to more than double its business scale in the next five years through new projects in various regions. In terms of gypsum, Lafarge has begun to supply products to the Indian market and is currently building a gypsum board plant with an annual capacity of about 10 million square meters near New Delhi, Rajasthan.  

< BR > (Please indicate the source for reprinting by China Cement Net)