Holcim, the world’s largest building materials company, has entered into an agreement with Chinese industry giant Huaxin Cement to sell its 83.81% stake in Lafarge Africa, based in Lagos, Nigeria, for an equity value of $1 billion on a 100% basis. The transaction, subject to customary and regulatory approvals, is expected to close in 2025.
Lafarge Africa operates four plants across Nigeria, located in Sagamu and Ewekoro in Ogun State, Ashaka in Gombe State, and Mfamosing in Cross River State, with a combined cement production capacity of 10.5 million tonnes annually. The company also offers a comprehensive range of high-quality mortar products, including TectorPlast I (ready-to-use plastering mortar) and Tector Plast II (waterproof mortar), alongside solutions for floor screed, floor tiling, wall screed, and wall tiling, including support for heavy materials like marble tiles.
Holcim, recognized for its innovative and sustainable building solutions, reported net sales of CHF 27 billion ($30.61 billion) in 2023. Its 63,448 employees are committed to advancing global living standards through sustainable progress. Holcim’s offerings include advanced solutions such as ECOPact and ECOPlanet for sustainable building materials, ECOCycle for circular technology, and Elevate’s cutting-edge roofing and insulation systems.
Headquartered in Wuhan, China, Huaxin Cement operates over 300 branches and subsidiaries domestically and internationally, specializing in sectors such as cement, concrete, and environmental protection.
