Company sells Brazilian cement, concrete and aggregates business to CSN for US$1 billion
HOLCIM have signed an agreement with CSN (Companhia Siderúrgica Nacional) for the divestment of their business in Brazil for US$1.025 billion. The divestment includes Holcim’s five integrated cement plants, four grinding stations, six aggregates sites and 19 ready-mixed concrete facilities.
Jan Jenisch, chief executive officer of Holcim, said: ‘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 divesting their activities in Brazil, Holcim say Latin America remains a core strategic growth region for the company. Building on strong positions in all its markets, the company has recently invested in an additional clinker line in Malagueno, Argentina, and a new grinding station in Yucatan, Mexico.