Holcim divests business in Brazil
Published by Emily Thomas,
Holcim has signed an agreement with CSN for the divestment of its business in Brazil for an enterprise value of US$1.025 billion. This divestment includes Holcim’s five integrated cement plants, four grinding stations, six aggregates sites and 19 ready-mix concrete facilities.
This divestment strengthens the company’s balance sheet, significantly reducing its debt ratio. Advancing its portfolio optimisation, Holcim will use the proceeds to invest in its Solutions & Products business, building on the Firestone acquisition.
Jan Jenisch, CEO: “This divestment is another step in our transformation to become the global leader in innovative and sustainable building solutions giving us the flexibility to continue investing in attractive growth opportunities. We are pleased to have found a responsible buyer with CSN that will develop the Brazilian business over the long term.”
While Holcim divests its activities in Brazil, Latin America is a core strategic growth region for the company. Building on strong positions in all its markets, Holcim recently invested in an additional clinker line in Malagueno, Argentina, a new grinding station in Yucatan, Mexico, and in the continuous growth of its Disensa retail network. Holcim also introduced its Firestone GacoFlex line in Mexico as the first step in developing its roofing systems business across Latin America.
Read the article online at: https://www.worldcement.com/the-americas/10092021/holcim-divests-business-in-brazil/
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