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Holcim divests cement business in Northern Ireland

Published by , Deputy Editor
World Cement,

Holcim has sold its cement business in Northern Ireland to Cookstown Cement Ltd for an Enterprise Value of CHF 70 million, covering a production capacity of 450 000 t. Cookstown Cement Ltd is a newly founded local construction company, established by a longstanding business partner of Holcim.

Miljan Gutovic, Holcim Region Head EMEA: “This divestment advances our ‘Strategy 2025 – Accelerating Green Growth’ with a focus on consolidating our leadership in core markets to become the global leader in innovative and sustainable building solutions. With Cookstown Cement Ltd, we are pleased to have found a strategic and trusted owner for the business, better positioned to continue investing in its long-term growth. We are delighted about Cookstown Cement Ltd’s vision, offering a solid platform for the team to continue to thrive.”

David Millar, Managing Director of Cookstown Cement Ltd: “We have acquired a great company with a strong team and excellent products and the investment we are making will allow us to expand further in the years to come. This is a fantastic opportunity to bring new investment and a new, local approach to this established business.”

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European cement news