HeidelbergCement agrees sale of Sierra Leone subsidiary

HeidelbergCement has signed an agreement to sell its subsidiary Sierra Leone Cement Corp Ltd (Leocem) to the Diamond Cement Group. The sale includes a cement grinding plant with two grinding mills. 

The Freetown cement plant has a capacity of ~500,000tpa. HeidelbergCement holds 50 per cent of the shares in the company and has full management responsibility. 

The divestment is part of HeidelbergCement’s ongoing portfolio optimisation and margin improvement programme within its ‘Beyond 2020’ strategy. HeidelbergCement stated it will continue to focus on its core west African markets in Ghana, Liberia, Togo, Burkina Faso, Benin and Gambia.