Lafarge achieves USD 583Mn turnover in 2007

The Moroccan affiliate of French building materials group Lafarge achieved a USD 583Mn turnover in 2007 compared to USD 501 million, that is a 16.7%, revealed, here Tuesday, Jean-Marie Schmitz, CEO of "Lafarge-Maroc."

The positive result is thanks mainly to the investments directed to satisfy growing demand, and the enhancement of the industries performance, Mr. Schmitz told the press. "It is also due to the opening of a new production line," he added.

According to Lafarge CEO, the current operating result moved to USD 255 million in 2007 against USD 190 million in 2006, marking a 33% rise.

Net income recorded also a sudden surge of over 40% with USD 152 million compared to USD 134 million last year.

Mr. Schmitz noticed that growth in demand of Morocco property will continue at a sustained rate, as Lafarge Maroc starts new major construction works, adding that the company has decided to consolidate leadership in the Moroccan property market through intensive investments predicted to reach 3 million tons of cement.

Lafarge international achieved a turnover of USD 26.2 billion in 2007.

With a workforce of 80,000 people, Lafarge Group is present in 76 countries. The company’s international development began in early 20th century with the opening up of North African markets.

Lafarge, which had operated in Algeria ever since 1866, became the leading Portland cement producer in Algeria, and set up operations in Morocco property and Tunisia.