FLSmidth completes sale of Cembrit

FLSmidth has announced that it has now successfully closed the divestment of Cembrit Holding A/S. This follows an agreement signed on 12 January 2015 for FLSmidth to sell all of its shares in Cembrit to a company in the Solix Group AB for DKK1.1 billion.

Cembrit is one of the leading distributors and manufacturers of fibre-cement products in Europe.

After initially commencing the sales process in August 2012, the decision was later taken to put the process on hold for 3 – 4 years. During this period, Cembrit introduced a new Board of Directors, new sales initiatives and productivity improvements. The purchase offer from the Solix Group AB was unsolicited.

Commenting on the agreement earlier this month, Bjarne Moltke Hansen, Group Executive Vice President at FLSmidth, said: “It’s my firm belief that we on all parameters have reached a satisfactory agreement by divesting Cembrit to a new owner who wants to further develop and grow the business to the benefit of both employees and customers.”

Adapted from press releases by Louise Fordham

Read the article online at: https://www.worldcement.com/europe-cis/30012015/flsmidth-completes-sale-of-cembrit-246/