LafargeHolcim announce further Chinese sales

LafargeHolcim has, for the second time in a week, announced that it is to sell some of its Chinese assets. Reuters reports that the company is to sell 13 integrated plants and four grinding stations for CHF208m (US$215m).

The assets – currently operated by Lafarge China Cement – are to be purchased by Huaxin Cement, in which LafargeHolcim itself has a 41.8 per cent shareholding.

Commenting on the sale, LafargeHolcim CEO Eric Olsen said: "Following our announcement earlier this week to divest our listed entity Shuangma, this transaction is a further important step towards streamlining our operations in China".