Holcim has announced the sale of its 83.8% stake in Lafarge Africa to China’s Huaxin Cement for $1 billion, marking its exit from the Nigerian market after 65 years. This move aligns with Holcim’s strategy to streamline operations and focus on high-growth regions and sustainable investments.
The transaction, expected to close in 2025 pending regulatory approvals, reflects Holcim’s ongoing portfolio adjustments, including the planned spin-off of its North American business. Lafarge Africa has operated in Nigeria since 1959, with key plants in Ogun, Gombe, and Cross River states, and a production capacity of 10.5 million tons per year.
The sale follows Holcim’s focus on sustainable growth, innovation, and environmental impact, including investments in low-carbon cement technology. Huaxin Cement, an established player in China and globally, has also acquired Holcim’s Zambian operations in 2021.
Holcim continues to position itself as a leader in sustainable building solutions while strengthening its presence in core markets.
