Company’s portfolio optimization continues with divestment of Leocem to Diamond Cement Group
HEIDELBERGCEMENT have signed an agreement to sell their subsidiary Sierra Leone Cement Corporation Ltd (Leocem) to the Diamond Cement Group.
The Leocem plant is located in Sierra Leone’s capital Freetown and has a capacity of approximately 500,000 tonnes per year. The sale includes a cement grinding plant with two grinding mills.
HeidelbergCement, who hold 50% of the shares in the company and have full management responsibility, say the divestment is part of their ongoing portfolio optimization and margin improvement programme within their ‘Beyond 2020’ strategy.
Following the sale, HeidelbergCement will continue to focus on their core West African markets in Ghana, Liberia, Togo, Burkina Faso, Benin, and Gambia.