Lafarge Nigeria takes control of United Cement

An affiliate of Lafarge Africa has bought Nigeria’s third-largest cement manufacturer, United Cement Company of Nigeria.

Lafarge did not disclose the purchase price. It said its affiliate Nigerian Cement Holdings, owned a 70 percent equity in United Cement Company before agreeing a deal last November to buy the remaining 30 percent stake from Flour Mills.

United Cement Company’s plant, located in Cross Rivers, southeast Nigeria, has a production capacity of 2.5 million tonnes and is undergoing expansion to 5 million tonnes to be completed next year, it said in a filing with Nigeria’s bourse.

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