Holcim divest cement business in Northern Ireland
Northern Ireland cement business sold to newly founded Cookstown Cement for CHF70 million
HOLCIM have sold their Lafarge cement business in Northern Ireland to Cookstown Cement Ltd for an enterprise value of CHF70 million (c.£56.5 million), covering a production capacity of 450,000 tonnes. Cookstown Cement Ltd is a newly founded local construction company, established by a longstanding business partner of Holcim.
Miljan Gutovic, region head EMEA at Holcim, said: ‘This divestment advances our ‘Strategy 2025 – Accelerating Green Growth’ with a focus on consolidating our leadership in core markets to become the global leader in innovative and sustainable building solutions.
‘With Cookstown Cement Ltd, we are pleased to have found a strategic and trusted owner for the business, better positioned to continue investing in its long-term growth. We are delighted about Cookstown Cement Ltd’s vision, offering a solid platform for the team to continue to thrive.’
David Millar, managing director of Cookstown Cement Ltd, commented: ‘We have acquired a great company with a strong team and excellent products, and the investment we are making will allow us to expand further in the years to come. This is a fantastic opportunity to bring new investment and a new, local approach to this established business.’
