Simcor negotiates takeover of Etermed Medgidia

Contacted by Business Standard, Simcor Var’s representatives confirmed their intention to buy Etermed, but they offer any further details.

Etermed was Lafarge’s asbestos cement division until 1999, when the French group decided to externalize this activity. The company ceased production of asbestos cement on 1 January 2007, because asbestos-based products are illegal in the European Union. The company currently produces cement plates, concrete and other products, with net sales last year at €3.5 million.

This could be the second takeover of one of Lafarge’s companies by Simcor, following the acquisition of the lime business in 2003.

Simcor Group, controlled by German businessman Stache Luz, has nine companies specializing in construction materials, fireplaces, lime, chimneys and other materials.