HeidelbergCement has agreed to sell its 51% stake in U.S.-based Lehigh White Cement Company to CEMEX and Aalborg Cement Company, a U.S. subsidiary of Cementir Holdings. Closing of the deal said to be worth around US$140 million is subject to customary conditions and is expected during Q1 2018. It will see Cementir Holdings increase its stake in Lehigh White Cement Company to 63.25%, with CEMEX owning the remaining 36.75% of the firm.
“As a niche product with small volumes, the standalone production of w
February 15, 2018
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674 HeidelbergCement has agreed to sell its 51% stake in U.S.-based Lehigh White Cement Company to 643 CEMEX and Aalborg Cement Company, a U.S. subsidiary of 1909 Cementir Holdings. Closing of the deal said to be worth around US$140 million is subject to customary conditions and is expected during Q1 2018. It will see Cementir Holdings increase its stake in Lehigh White Cement Company to 63.25%, with CEMEX owning the remaining 36.75% of the firm.
“As a niche product with small volumes, the standalone production of white cement does not fit to the strategic focus on efficiency of HeidelbergCement,” said Dr. Bernd Scheifele, chairman of the managing board of HeidelbergCement. “The disposal is part of our global portfolio review and optimisation with the goal to generate additional cash flow in order to support our disciplined growth and increase shareholder returns.”
Lehigh White Cement Company operates two white cement plants in Waco, Texas, and York, Pennsylvania, with a combined annual production capacity of approximately 255,000tonnes.
