A report from the Financial Times suggests that HeidelbergCement may be considering selling off some of its building products assets. The reports claims that the company has been meeting with banks to discuss the divestment, which would align with HeidelbergCement’s strategy of focusing on its core business of cement and heavy aggregates.
The building products business includes bricks, roof tiles and various limestone products and is expected to be priced at between US$1.5 billion and US$2 billion, although the exact assets on sale and their total value is not known.
In March, HeidelbergCement reported its results for 2013, saying it had been the best year since the start of the financial crisis. It attributed the success to its cost-efficiency programme, FOX 2013, which contributed cash-relevant savings of €391 million.
Edited from various sources by Katherine Guenioui
Read the article online at: https://www.worldcement.com/europe-cis/17062014/heidelbergcement_to_divest_building_products_367/