Holcim has reached a deal with Brazilian steelmaker CSN (Companhia Siderúrgica Nacional) for the divestment of its business in Brazil for an enterprise value of $1.025 billion. The sale includes five integrated cement plants, four grinding stations, six aggregates sites and 19 ready-mix concrete facilities.
“This divestment is another step in our transformation to become the global leader in innovative and sustainable building solutions giving us the flexibility to continue investing in attractive growth opportunities. We are pleased to have found a responsible buyer with CSN that will develop the Brazilian business over the long term,” said Holcim CEO Jan Jenisch.
Advancing its portfolio optimization, Holcim will use the proceeds from the Brazilian divestment to invest in its Solutions & Products business, building on the Firestone Building Products acquisition earlier this year.
While Holcim divests its activities in Brazil, Latin America is a core strategic growth region for the company. Building on strong positions in all its markets, Holcim recently invested in an additional clinker line in Malagueno, Argentina; a new grinding station in Yucatan, Mexico; and in the continuous growth of its Disensa retail network. Holcim also introduced its Firestone GacoFlex line in Mexico as the first step in developing its roofing systems business across Latin America.
