Sale of business to Companhia Siderúrgica Nacional closed following approvals from Brazilian authorities
HOLCIM have closed the sale of their business in Brazil to CSN (Companhia Siderúrgica Nacional) for an enterprise value of U$1.025 billion, following approvals from Brazilian authorities. The transaction 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.’
Holcim say Latin America remains a core strategic growth region for the company. In the first half of 2022 Holcim completed a new cement production line in El Salvador and significantly expanded their aggregates operations in El Salvador, Ecuador, and Colombia. The company also continued to expand its Disensa retail network across the region with more than 2,000 stores in eight countries.