Lafarge Braas Roofing, the roofing division of the Lafarge Group and world leader in roofing materials, has made a new acquisition in Malaysia. This transaction comes one week after its acquisition of Coverland Roof Tiles Ltd in South Africa.
Under an agreement with Hume Redland Industries, Lafarge Braas Roofing will acquire all of the outstanding shares of Hume Redland Industries' tiles and pavers activities, in which Lafarge already holds a 29% interest. At the same time, Lafarge will sell its 29% interest in the quarries, ready-mix concrete and asphalt businesses to CI Holding.
Hume Redland Industries' tiles and pavers activities, based in Kuala Lumpur, operates eleven plants, employs 450 people and generates sales of MYR 80 million (around US$ 21 million).
Concrete tiles are the most widely used material in Malaysia for pitched roofs. In 1997, demand corresponded to 0.8 square meters per capita, which is similar to the level in Western Europe.
This agreement, which has been submitted for approval to local officials and the shareholders of CI Holding, fits in with Lafarge's development strategy in emerging markets.
World leader in construction materials, Lafarge employs nearly 65,000 people in 65 countries and generates annual sales of FRF 65 billion (around US$ 11 billion).