Cementir benefits from 2016 acquisitions
Published by Jonathan Rowland,
Editor
World Cement,
Cementir Holdings has announced sales of 10.1 million t of grey and white cement in 2016, a 7.9% increase on the previous year, driven by strong performance in Denmark and China. Ready-mixed concrete and aggregates sales were also up by 17.9% and 17.0%, respectively.
Sales were boosted by the acquisition of Compagnie des Ciments Belge (CCB) by Cementir subsidiary, Aalborg Portland, from HeidelbergCement, and the cement and ready-mixed concrete business of Sacci SpA in Italy by CementirSacci, a subsidiary of Cementir Italia.
CCB owns cement, aggregates and ready-mixed concrete operations, including the largest cement plant in France and the Benelux. The acquisition was finalised in October 2016 for an enterprise value of €312 million.
The Sacci assets include five cement production plants in central and northern Italy, three distribution terminals, and 28 ready-mixed concrete mixing plants. The acquisition was finalised in July 2016 for a total amount of €125 million.
Excluding the impact of the acquisitions, like-for-like sales of cement increase by 1.3% in 2016, while sales of ready-mixed concrete were up 13.7%. Sales of aggregates were down, however, by 5.6%.
Read the article online at: https://www.worldcement.com/europe-cis/08032017/cementir-benefits-from-2016-acquisitions/
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