Holcim sells Brazilian business for US$1 billion
By Andy Brown13 September 2021
Global building solutions company Holcim has signed an agreement with CSN (Companhia Siderúrgica Nacional) for the divestment of its business in Brazil for an enterprise value of US$1.025 billion.
This deal includes Holcim’s five integrated cement plants, four grinding stations, six aggregates sites and 19 ready-mix concrete facilities. Holcim has said that it will use the proceeds to invest in its Solutions & Products business, building on the Firestone acquisition.
Jan Jenisch, CEO, 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.”
Despite the sale of its assets in Brazil, the company reiterated that it sees Latin America as a strategic growth region.
Holcim employs approximately 70,000 people and operates in four business segments: cement, ready-mix concrete, aggregates and solutions and products.