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.”
Read the article online at: https://www.worldcement.com/europe-cis/25012022/holcim-divests-cement-business-in-northern-ireland/