LMC to Buy Granite Indah for US$10.4 mln




Kuala Lumpur (ANTARA News/Asia Pulse) -

Lafarge Malayan Cement Bhd (KLSE:3794) on Friday said its wholly-owned subsidiary, Lafarge Aggregates Sdn Bhd (LASB), has agreed to buy the entire stake of granite quarry operator Granite Indah Sdn Bhd (GISB) for RM34 million (US$10.4 million).


With the proposed acquisition, LASB will be acquiring two wholly-owned subsidiaries of GISB, Granite Indah Premix Sdn Bhd and Laksana Murni Sdn Bhd, Lafarge said in a statement to Bursa Malaysia on Jan 11.


Granite Indah currently operates a premix business and owns leasehold quarry land both in Kinta in the state of Perak. LASB is involved in quarrying and the supply of aggregates or crushed stones.