Acquisition
13 Janeiro 2004 - 6:18AM
UK Regulatory
RNS Number:1508U
Lafarge
13 January 2004
Euronext: LG, NYSE: LR Paris, 13 January 2004
Lafarge becomes the majority shareholder of Lafarge Halla Cement in South Korea
Lafarge, which has held a 39.9% interest in the capital of Lafarge Halla Cement
in South Korea since 2000, now owns a 50.1% stake following the acquisition of
10.2% of the company's shares from the State of Wisconsin Investment Board for
USD71 million. The State of Wisconsin Investment Board remains a shareholder
with a 19.9%.
Lafarge Halla Cement, the fourth-largest cement producer in South Korea, owns
three industrial facilities and has an annual cement capacity of 7.5 million
tonnes.
"Since Lafarge took its first position in the South Korean gypsum market in
1997, we have pursued a dynamic expansion strategy in both cement and gypsum.
Our majority shareholding in the capital of Lafarge Halla Cement represents a
significant new milestone. Looking towards the future, it provides us with a
platform for further profitable growth in this expanding market commented
Bernard Kasriel, the Group's Chief Executive Officer.
The Lafarge group has been established in South Korea since 1997 with its gypsum
activity. With three plants at Yosu, Ulsan and Dangjin, Lafarge holds a leading
position in the country's wallboard market. Lafarge is present in cement since
2000 with its participation in Lafarge Halla Cement which employs around 900
persons in three industrial sites in Okke, Singi and kwangYang.
Lafarge, the world leader in building materials, holds top-ranking positions in
all four of its Divisions: Cement, Aggregates & Concrete, Roofing and Gypsum.
Lafarge employs 77,000 people in 75 countries and posted sales of Euro14.6 billion
in 2002. Additional information is available on the web site at www.lafarqe.com.
PRESS CONTACT; INVESTOR RELATIONS:
Veronique Doux: 33-1 44-34-19-47 James Palmer: 33-1 44-34-11-26
veronique.doux@lafarge.com james.palmer@lafarge.com
Brunswick Daniele Daouphars: 33-1 44-34-11-51
Stephanie Tessier 33-1 53-96-83-79 daniele.daouphars@lafarge.com
stessier@brunswickgroup.com
Statements made in this press release that are not historical facts are forward-
looking statements made pursuant to the safe harbor provisions of the Private
Securities Litigation Reform Act of 1995. These statements are not guarantees of
future performance and involve risks, uncertainties and assumptions ("Factors"),
which are difficult to predict. Some of the Factors that could cause actual
results to differ materially from those expressed in the forward-looking
statements include, but are not limited to: the cyclical nature of the Company's
business; national and regional economic conditions in the countries in which
the Group does business; currency fluctuations; seasonal nature of the Company's
operations; levels of construction spending in major markets; supply/demand
structure of the industry; competition from new or existing competitors;
unfavorable weather conditions during peak construction periods: changes in and
implementation of environmental and other governmental regulations; our ability
to successfully identify, complete and efficiently integrate acquisitions; our
ability to successfully penetrate new markets: and other Factors disclosed in
the Company's public filings with the French Commission des Operations de Bourse
and the US Securities and Exchange Commission including its Reference Document
COB number D03-0375 as updated on June 5, 2003 and November 17, 2003 and annual
report on Form 20-F. In general, the Company is subject to the risks and
uncertainties of the construction industry and of doing business throughout the
world. The forward-looking statements are made as of this date and the Company
undertakes no obligation to update them, whether as a result of new information,
future events or otherwise.
This information is provided by RNS
The company news service from the London Stock Exchange
END
ACQGUUUCGUPCUMW