Lafarge Braas Roofing, a division of the Lafarge Group and world leader in roofing materials and chimney systems, has acquired the remaining capital of the South African company, Coverland Roof Tiles Ltd.
Created in 1976 from a merger of the roofing operations of Vereeniging Refractories (Amcoal Group), Coronation Industrials and Redland in South Africa, Coverland recorded sales last year of roughly 100 million rands (almost FRF 95 million). With six production sites and a workforce of 490 people, Coverland manufactured 5 million m2 of roof tiles in 1997.
As a result of the acquisition of the Redland Group in 1997, Lafarge already owned a 33.3% stake in Coverland's capital.
The world leader in construction materials, Lafarge employs 65,000 people in 65 countries. The Group has operated businesses in South Africa since 1971. Earlier this year, it acquired Blue Circle South Africa, the country's third largest cement producer. These investments form part of the Group's strategy of development in emerging countries.