LafargeHolcim sells cement assets in China for Huaxin

Zurich-LafargeHolcim hit deal to sell most of its cement assets in China that are not listed on the stock exchange for the Cement to Huaxin Cement, for an amount of around 208,000,000 Swiss francs, said the Swiss group of cement production.
"Following our announcement held at the beginning of the week of disinvestment of our entity listed Shuangma, this transaction is a further important step towards the simplification of our operations in China," said the Chief Executive, Eric Olsen, in a statement on Wednesday.
The sale of 13 cement production plants and four grinding plants with annual capacity to 18 tons of cement, which requires regulatory approvals, and other endorsements, would reduce the net debt at 376,000,000 francs, he added. (By Michael Shields)