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LAFARGE IMPROVES FIRST QUARTER RESULTS

 RESTON, Va., April 22 /PRNewswire/ -- Lafarge Corporation (NYSE: LAF; TSE, ME), one of the leading construction materials companies in the United States and Canada, today announced an improvement in financial results for the first quarter of 1993.
 Lafarge posted a net loss for the quarter ended March 31, 1993, of $72.8 million ($1.23 per share), compared with a loss of $143.3 million ($2.48 per share) in 1992. The company took an after-tax charge of $63.5 million in the first quarter of 1992 when it adopted new accounting rules for postretirement benefits and income taxes. Excluding this charge, the company's net loss in the first three months of 1993 would have been $7.0 million (15 cents per share) better than last year.
 Historically Lafarge reports a first quarter loss because most major maintenance projects for plants and equipment are undertaken and expensed during the winter months when shipments are at their lowest level.
 Michel Rose, Lafarge Corporation's president and chief executive officer, said the improved first quarter results were "encouraging" given that construction activity in many markets was affected by severe weather.
 Rose noted that Lafarge's net sales price for cement was 3 percent higher than in the first quarter of 1993, with further gains anticipated in the company's U.S. markets.
 "Price increases are being implemented in most areas of the United States, and we are optimistic these increases will hold," Rose said. "However, U.S. cement prices are still lower than in any other country with a free market economy. Poor pricing remains a problem in our industry."
 Lafarge's net sales for the first quarter of 1993 were $191.8 million, compared with $211.1 million in 1992. After adjusting for volumes lost due to the Feb. 1, 1993, sale of a cement plant in Alabama, cement shipments decreased 2 percent in the first quarter. Sales volumes of ready-mixed concrete rose 2 percent from the previous year while aggregate shipments fell 13 percent.
 Lafarge operates 15 full-production cement plants, two grinding facilities and more than 90 distribution facilities throughout the United States and Canada, with an annual production capacity of more than 14 million tons of cement. The company also has approximately 450 construction materials operations and is one of the largest suppliers of ready-mixed concrete and aggregates in North America. Systech Environmental Corporation, a Lafarge subsidiary, is a leader in co-processing, or recycling industrial waste into fuel for cement kilns.
 Based in Reston, Lafarge Corporation is a Fortune 500 company with more than 7,600 employees and 1992 sales of $1.5 billion. Its majority shareholder, Lafarge Coppee of Paris, is one of the world's largest producers of building materials with operations in 35 countries and 1992 sales of $5.8 billion.
 LAFARGE CORPORATION
 Financial Highlights
 (Unaudited and in thousands, except per share amounts)
 Quarter Ended March 31, 1993 1992
 Net Sales $ 191,823 $ 211,127
 Net Loss Before Cumulative
 Effect of Accounting Changes $ (72,849) $ (79,779)
 Cumulative Effect
 of Accounting Changes -- (63,531)
 Net Loss $ (72,849) $ (143,310)
 Net Loss Per Common Equity Share
 Before Cumulative Effect
 of Accounting Changes
 Primary N/A $ (1.38)
 Fully Diluted N/A $ (1.38)
 Net Loss Per Common Equity Share
 Primary $ (1.23) $ (2.48)
 Fully Diluted $ (1.23) $ (2.48)
 Average Number of Common Equity
 Shares Outstanding 59,405 57,736
 Note: Because of seasonal, weather-related conditions in several of the company's marketing areas, earnings of any one quarter should not be considered as indicative of results for a full year.
 -0- 4/22/93
 /CONTACT: Jean-Pierre Cloiseau of Lafarge Corporation, 703-264-3670/
 (LAF)


CO: Lafarge Corporation ST: Virginia IN: CST SU: ERN

DC-MH -- DC009 -- 9457 04/22/93 12:33 EDT
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Publication:PR Newswire
Date:Apr 22, 1993
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