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Sun June 13 2021

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Cemex and Holcim swap European assets

28 Aug 13 Cemex and Holcim have reached agreement to conduct a series of transactions that Cemex believes will improve its strategic footprint in Europe.

Cemex will acquire all of Holcim’s assets in the Czech Republic, which include one cement plant, four aggregates quarries and 17 ready-mix plants. “The Czech Republic is a market with a strong economy and solid prospects and we expect that acquiring these assets should improve Cemex’s operations in the country and in Central Europe,” said Cemex.

Cemex will divest its assets in the western part of Germany to Holcim. The deal covers one cement plant and two grinding mills, a slag granulator, 22 aggregates quarries and 79 ready-mix plants. Cemex will still be present in the eastern, northern and southern part of the country.

In Spain, Cemex and Holcim will combine all their cement, ready-mix and aggregates operations. Cemex will have a 75% controlling interest over the combined operational assets in this country.

As part of these transactions, Holcim will pay Cemex €70m (£60.2m) in cash.

"When finalised, this will be an important strategic step that should allow Cemex to improve its footprint in Europe, and it will consolidate our portfolio in the continent,” said Cemex chairman and CEO Lorenzo Zambrano.

The transactions are not final as they are subject to the fulfillment of various conditions. They are expected to be finalised during the fourth quarter of 2013.

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