Holcim divests Northern Ireland cement business

Holcim has sold its Northern Ireland cement business to Cookstown Cement Ltd for more than GBP55m, reports the BBC. Cookstown Cement Ltd is a new local business that has acquired all of the business of Lafarge from Aggregate Industries (Holcim group). 

The deal includes a cement plant and limestone quarry in Cookstown, a shale quarry in Dungannon and a facility at Belfast Harbour. The new owners have committed to invest GBP12m in the facilities to upgrade environmental capabilities and processes, and improve efficiency. Cookstown Cement has about 100 employees, and its two shareholders are David Millar and the LCC Group. 

Miljan Gutovic, Holcim region head EMEA, said: "This divestment advances our ‘Strategy 2025 – Accelerating Green Growth’ with a focus on consolidating our leadership in core markets to become the global leader in innovative and sustainable building solutions. With Cookstown Cement Ltd, we are pleased to have found a strategic and trusted owner for the business, better positioned to continue investing in its long term growth. We are delighted about Cookstown Cement Ltd’s vision, offering a solid platform for the team to continue to thrive."

Cookstown Cement Ltd’s Managing Director, David Millar, said: "We have acquired a great company with a strong team and excellent products, and the investment we are making will allow us to expand further in the years to come. 

"The staff were informed of the acquisition on Friday past and in the coming days I will be meeting the team and our customers and suppliers and telling them more about the investment in the business and processes we are going to make. 

"While some change is inevitable and environmental improvements are essential, my aim is to very quickly create a solid foundation for the business to grow as the construction industry evolves."