Holcim sells stores in Brazil
Holcim sells its Brazilian business. The cement company is thus strengthening its balance sheet. He also plans to invest the proceeds of $ 1.025 billion in the Solutions & Products division. It builds on the recent acquisition of an American manufacturer of flat roof systems.
Holcim is selling its businesses in Brazil. As announced by the company, the company is valued at $ 1.025 billion. It comprises five cement plants, four grinding plants, six plants for aggregates and 19 ready-mixed concrete plants. The buyer is the Companhia Siderúrgica Nacional. "This sale is a further step in our transformation into the world's leading provider of innovative and sustainable building solutions," Holcim CEO Jan Jenisch is quoted as saying. "It gives us the flexibility to invest in attractive growth opportunities."
With this sale, the company's balance sheet will be strengthened and the level of indebtedness will be significantly reduced, according to Holcim. It took place as part of an optimization of the portfolio. The proceeds will be used for investments in the Solutions & Products division. This builds on the acquisition of Firestone Building Products , an American manufacturer of flat roof systems, at the beginning of January. This transaction was valued at $ 3.4 billion. As a first step, Holcim introduced the Firestone GacoFlex line for waterproofing roofs in Mexico.
Despite the sale of the Brazilian business, Latin America remains a key strategic growth region for Holcim. The group recently invested in an additional clinker plant in Malagueño, Argentina, and in a new grinding plant in Yucatán, Mexico. In addition, the expansion of the company's own retail network in Disensa is ongoing.
