HeidelbergCement, a building materials company, has announced that its subsidiary, US company Lehigh White Cement LLC, has signed an agreement to sell its 51% position in Lehigh White Cement Co. to the minority shareholders Aalborg Cement Co. Inc. and Cemex Inc.
The closing of the transaction is expected around 1Q18 at the amount of US$140 million.
“As a niche product with small volumes, the standalone production of white cement does not fit to the strategic focus on efficiency of HeidelbergCement,” said Dr. Bernd Scheifele, Chairman of the Managing Board of HeidelbergCement. “The disposal is part of our global portfolio review and optimisation with the goal to generate additional cash flow in order to support our disciplined growth and increase shareholder returns.”
Read the article online at: https://www.worldcement.com/product-news/15022018/heidelbergcement-to-sell-stake-in-lehigh-white-cement-co/