Xannat eye up Holcim–Lafarge disposals
Sale of Russian operations frees cash to enhance group’s quarrying and construction materials arm
XANNAT international Ltd (Holdings), the investment arm of Xannat International Ltd, have announced that after the successful sale of the majority of their Russian operations and a rationalization of their holdings on the Moscow, Frankfurt and Toronto exchanges, they now have around $3.8 billion available for plans to expand their Construction Materials division.
Based in Seychelles, Xannat Group comprise a privately held collection of companies that operate across Eurasia and the Americas providing critical resources and services to customers worldwide.
Incorporated in 2011, Xannat International Ltd produce and distribute aggregates, concretes, softwoods, paper pulp and copper concentrates. Their aggregate and concrete products include sized construction stone for road, rail, marine and concrete applications, as well as specialist concretes for extreme low-temperature and marine applications.
Xannat’s chairman, Dr Paul Craggs, said: ‘With the current political and macroeconomic climate across Eurasia shifting, we have taken the decision that our future lies in a different direction and have moved to free cash to enable purchases that will significantly enhance our quarrying and construction materials arm.’
Responding to recent press speculation around the disposals brought about by the Holcim–Lafarge merger, Dr Craggs (pictured) said that with the realignment of Xannat’s business and the intention to list on the London exchange in 2016, any assets released for sale that would help to strengthen Xannat’s position as an integrated resource and construction materials group, would certainly be of interest, although he refused to be drawn further at this point.