Huaxin Cement to acquire a 83.81% stake in Lafarge Africa from Holcim Group.

Huaxin Cement, a cement manufacturing company, agreed to acquire a 83.81% stake in Lafarge Africa, a building solutions company, from Holcim Group, a company that manufactures building materials. Financial terms were not disclosed. "We look forward to welcoming Lafarge Africa into the Huaxin family of companies. We are excited to learn more about Nigeria and Lafarge Africa; its people, culture and the market for building materials. Leveraging the knowledge and experience of the management and staff of the company, combined with our experience gained from the operation of more than 60 cement plants, and other businesses, in 12 countries - including 7 in Africa - we will devise plans for the further growth of Lafarge Africa. Together, we will build on the proud and long history of Lafarge Africa and will honor its legacy by bringing it to the next level of development," Xu, Huaxin Cement Vice President.