Ciments Francais was selected by the board of directors of Suez Cement to become the strategic partner of the leading cement company in Egypt. Suez Cement has a capacity of 8.5 million tons on three sites and its market share is about 30%.

Following an extraordinary general meeting of Suez Cement to approve a capital increase of 10.1 million shares and a public offer of 5.9 million shares, and after conditions precedent have been satisfied, Ciments Francais would become the largest shareholder in the company, with a 25% stake. The total investment would be about US$224.43 million.