Buzzi Unicem has entered into a strategic agreement with Austrian building materials group, Wietersdorfer, for the transfer of one – and potentially two – cement plants in exchange for share capital amounting to a 25% interest of both w&p Cementi SpA and Salonit Anhovo Gradbeni Materiali d.d. (Slovenia).
Buzzi Unicem’s 0.3 million tpa Cadola (Belluno) cement plant will be transferred to w&p Cementi SpA, a subsidiary of Wietersdorfer. The Austrian company will also have the right, to be exercised within five years, to acquire the 0.4 million tpa Travesio (Pordenone) cement plant without additional payment. The shares are worth about €22 million.
Currently, w&p Cementi SpA owns a 0.3 million tpa grinding facility in San Vito al Tagliamento (Pordenone), while Salonit Anhovo Gradbeni Materiali d.d operates a recently refurbished 1.3 million t cement plant in Slovenia.
Buzzi Unicem has stated that the arrangement, which is due to come into force in June 2014, should offer important benefits, such as:
- Improved procurement logistics thanks to a larger presence in the area.
- Technological integration between the two groups aimed at the improvement and development of new products intended for a market in constant evolution.
- Strengthened and more widespread assistance and services.
Adapted from press release by Katherine Guenioui
Read the article online at: https://www.worldcement.com/europe-cis/19022014/buzzi_unicem_enters_strategic_agreement_with_austrian_cement_producer_767/