Holcim's core businesses include the manufacture and distribution of cement, and the production, processing and distribution of aggregates (crushed stone, gravel and sand), ready-mix concrete and asphalt. The company also offers consulting, research, trading, engineering and other services. More
Wednesday, Aug 289:34 AMCemex, Holcim to exchange European assets
Wednesday, Aug 289:34 AM| Comment!
- Cemex (CX) has agreed to swap European assets with Swiss cement company Holcim (HCMLF.PK).
- The Mexican firm will acquire Holcim's operations in the Czech Republic.
- Cemex will sell its assets in the western part of Germany to Holcim.
- The companies will combine their businesses in Spain, with Cemex retaining 75% of the new entity.
- Holcim will pay Cemex €70M in cash.
- The transactions are expected to generate synergies that will add $20-30M to Cemex's EBITDA. (PR)