JVs ended

25 April 2008

Portugal: Lafarge and Cemex have terminated their 50/50 joint venture in Iberia. Under the terms of an agreement announced in November, and which received regulatory approval in late December, Lafarge will buy-out the majority of the two companies involved - Readymix Asland S.A. (RMA) in Spain and Betecna Betao Pronto S.A. (BETECNA) in Portugal.

RMA consists of 122 concrete plants and 12 aggregates quarries, and is claimed to be the market leader in the Spanish concrete sector. BETECNA comprises 40 concrete plants and four quarries. Lafarge has taken over full ownership of both companies. However, 28 concrete plants and six quarries formerly owned by RMA have been transferred to Cemex. In addition, Lafarge has paid Cemex € 50 million (US$ 61.5 million) for to acquire its interests in the two businesses

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