Lafarge looks to sell bag-maker subsidiary

Lafarge appears to be looking to offload one of its bag-making subsidiaries, sources tell Al Borsa. Lafarge owns majority stake in two bagging companies, EGY SAK and the National Bag Company, and has recently courted Mondi as a potential buyer for one of its bag units.Last week, Mondi made the news by bidding for Suez Bags, a subsidiary of Suez Cement. The newspaper is claiming that the company is in talks with some unnamed Libyan investor to sell one of the companies. Plans for the sale come as the firm looks to shed rising costs and low margins from the business unit, while focusing on its cement and alternative energy lines of business.