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/
You might also like
The World Cement Podcast
In this special joint episode of the World Cement Podcast, and Cementing Europe’s future, the podcast of CEMBUREAU, David Bizley and Koen Coppenholle take a deep dive into the Clean Industrial Deal and a discussion of what it means for the European cement industry.
Listen for free today at www.worldcement.com/podcasts or subscribe and review on your favourite podcast app.
Shaping The Future Through Shredding
Gary Moore, UNTHA Shredding Technology GmbH, highlights the global momentum behind alternative fuels and the role of advanced shredding in shaping cement’s low-carbon future.
