The sale of Holcim Indonesia is part of LafargeHolcim’s ongoing portfolio review. The assets sold to Semen Indonesia include the entirety of LafargeHolcim’s operations in Indonesia, which consists of four cement plants, 33 ready-mix plants and two aggregate quarries.
Speaking in late 2018 after the announcement of the sale agreement, Jan Jenisch, CEO of LafargeHolcim, said: “As part of our Strategy 2022 – ‘Building for Growth’ we have committed to divestments of at least CHF 2 billion. Today’s announcement is an important milestone in reaching our target and to increase our financial strength. The proceeds from this transaction will significantly improve our debt ratios with the target of 2 times Net Debt to Recurring EBITDA to be achieved by the end of 2019.”
