HeidelbergCement to sell stake in Lehigh White Cement Company in the USA

HeidelbergCement announces that its subsidiary Lehigh Cement Company LLC has signed an agreement to sell its 51% position in Lehigh White Cement Company to the minority shareholders Aalborg Cement Company, Inc. and Cemex, Inc. The enterprise value of the transaction amounts to about USD 140 million. Closing of the transaction is subject to customary conditions and is expected during the first quarter 2018.

“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 optimization 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 plants in Waco, Texas, and York, Pennsylvania, with a combined annual production capacity of approximately 255,000 tonnes.

About HeidelbergCement

HeidelbergCement is one of the world’s largest integrated manufacturers of building materials with leading market positions in aggregates, cement, and ready-mixed concrete. The company employs some 60,000 people at more than 3,000 locations in around 60 countries.

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