Holcim divests Brazilian business

Holcim has signed an agreement with Companhia Siderúrgica Nacional (CSN) for the divestment of its business in Brazil for an enterprise value of US$1.025bn. The deal includes Holcim’s five integrated cement plants, four grinding works, six aggregates sites and 19 RMC facilities, according to a press release.

"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," said Jan Jenisch, CEO.

The group is expected to use the proceeds to invest in its Solutions & Products business, building on the Firestone acquisition. It also noted that Latin America remains a core strategic growth region for the company.