Holcim to sell operations in New Caledonia

Isolated outpost to be acquired by Tokuyama Corporation of Japan as part of Holcim Leadership Journey

HOLCIM are selling their operations in New Caledonia to Tokuyama Corporation of Japan for an undisclosed sum.

The company says the transaction has to be viewed in the light of the Holcim Leadership Journey, whereby selective divestments, if and when they make strategic sense, are an integral part of the Groups’ drive to increase operating profits by CHF1.5 billion (€1.2 billion) until 2014, compared with 2011.

Holcim Nouvelle Calédonie SA, who run a grinding plant with an annual capacity of 200,000 tonnes of cement, have always been slightly isolated from the rest of the Group’s assets, making this divestment a strategically viable solution.

Tokuyama, who were founded in 1918 and have been present in the cement market since 1938, will acquire 74.1% of issued ordinary shares owned by Holcim (Outre-Mer) SAS. The transaction is scheduled to be completed on 27 June 2013.

After the acquisition, the name of the company will be changed to Tokuyama Nouvelle Calédonie SA and Hideyoshi Koya, general manager of Tokuyama Corporation’s Cement Division, will be nominated as its president. In the market, the brand will be gradually adapted to reflect the name change by the end of the year.

According to Holcim, local management will remain in place and there are no plans for any reduction in headcount.