LH says its Australian and New Zealand operations are not up for sale

LafargeHolcim said its Australian and New Zealand operations are not currently on the sale block, according to Bloomberg reports following press speculation at the end of last week.

Media reports on Friday suggested that the world's largest cement producer was considering exiting the region with the disposal of its operations in Australia and New Zealand for a potential amount of AUD3bn (CHF2.2bn)

However, Bloomberg this morning reported that LafargeHolcim has said that the operations are not for sale. According to the article, Holcim Australia chief executive Mark Campbell said the company was “not currently being sold”, but could not rule out an exit in the long term.

Further details on LafargeHolcim's divestment strategy to be revealed during the group's Capital Markets Day in London tomorrow.