No need for layoffs after sale of Lafarge's assets in Romania to CRH

The sale of French cement producer Lafarge’s assets in Romania to Irish cement producer CRH will not result in layoffs, said Costin Borc, CEO Lafarge Romania. “The management, staff and suppliers of Lafarge Romania are subject to the transaction, due in the second part of the year. Employment contracts are part of the deal,” he said, cited by local Capital.ro. In February this year, Irish company CRH agreed to pay EUR 6.5 billion for assets from rivals Lafarge and Holcim, in a deal that will turn the Irish company into the world's third-biggest building materials supplier. The two had to sell assets to get regulatory approval for their planned merger estimated at EUR 40 billion. In Romania, CRH will take over Lafarge’s two cement plants in Medgidia and Hoghiz, and a grinding station at Targu Jiu. editor@romania-insider.com