CRH is to sell one cement plant and a grinding plant in Germany to an undisclosed buyer, according to a company update on its 2017 acquisitions and divestments. The deal forms part of a total of €400 million in divestments made from the company’s Europe Heavyside Division this year so far.
The assets sold are the Karsdorf integrated cement plant and Sötenich cement grinding plant, a company spokesperson told World Cement.
The Karsdorf and Sötenich plants were acquired by the Ireland-based company in the 2015 €2.6 billion acquisition of assets sold by Lafarge and Holcim. It is the largest disposal by CRH this year and remains is subject to approval by the German Competition Authority (Bundeskartellamt).
In addition, the company said it had also divested the majority of its clay products businesses in Europe, a non-core civil prefabricated concrete business in the Benelux, and three unspecified “smaller divestments” in France, Germany and Switzerland.
Update: adds names of the two plants to be sold.
Read the article online at: https://www.worldcement.com/europe-cis/10032017/crh-sells-german-cement-assets/