Skip to main content

InterCement sells European assets

Published by
World Cement,


InterCement is to sell its operations in Portugal and Cape Verde to Turkey’s OYAK. The sale includes three integrated cement plants and two milling facilities. Total cement capacity included in the deal is 9.1 million t.

The value of the deal was not released but has been reported by Reuters to be around €700 million or US$795 million. InterCement acquired the assets with the purchase of Cimpor six years ago.

In addition, OYAK will acquire 46 concrete units, two dry mortar units, 17 quarries, and a cement bagging plant. The closing of the transaction is subject to the usual closing condition, including regulatory approvals.

Proceeds from the sale will be used to reduce InterCement’s debt and improve the strength of its capital structure. On completion of the deal, the company will operate 39 million tpy of cement capacity at 35 cement plants in South America and Africa.

Read the article online at: https://www.worldcement.com/europe-cis/30102018/intercement-sells-european-assets/

You might also like

 WCT2020

Optimisation 2020

Optimisation 2020 provides a unique online forum for cement industry professionals to hear first-hand from experts through a series of exclusive presentations from cement producers and industry experts.

Find out more and register for the series »

 

 Spotlight

World Cement Spotlight with Rockwell Automation

World Cement Editor, David Bizley, sat down with Michael Tay, Advanced Analytics Product Manager at Rockwell Automation to discuss his recent article in World Cement.

Entitled ‘Smooth Sailing’, this article explains how machine learning can help save energy, reduce downtime and predict equipment failures, thus enabling the smooth running of cement plant operations.

Watch the interview now »

 
 
 

Embed article link: (copy the HTML code below):


 

This article has been tagged under the following:

Cement news 2018