HeidelbergCement divests Italian plants

Italcementi, a subsidiary of building materials company HeidelbergCement, has signed contracts with Buzzi Unicem and Colacem about the disposals of cement plants in the northern and central region of Italy. In a statement the companies involved said no details of the transactions would be disclosed for the time being. “These divestments are part of our action plan to accelerate our portfolio optimisation,” said Dr Bernd Scheifele, chairman of the managing board of HeidelbergCement. He added that th
April 16, 2019 Read time: 1 min

726 Italcementi, a subsidiary of building materials company 674 HeidelbergCement, has signed contracts with 1451 Buzzi Unicem and Colacem about the disposals of cement plants in the northern and central region of Italy.

In a statement the companies involved said no details of the transactions would be disclosed for the time being.

“These divestments are part of our action plan to accelerate our portfolio optimisation,” said Dr Bernd Scheifele, chairman of the managing board of HeidelbergCement.

He added that the company was on course to reach its target of €1.5bn in disposals by the end of 2020.

The sale of the Spoleto cement plant to Colacem was already closed at the beginning of April. Italcementi has also signed an agreement with Buzzi Unicem for the sale of the Testi cement plant in Tuscany, and two grinding plants in Piedmont. Closing of this transaction is expected by the end of July 2019.

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