Holcim sells equity stakes for US$ 412 million

27 December 2012

Holcim

Holcim

Cement producer Holcim has reduced its shareholding in Siam City Cement Company (SCCC) in Thailand and sold its minority shareholding Cementos Progreso in Guatemala – deals worth a combined total of CHF 375 million (US$ 412 million).

Holcim now owns a 27.5% stake in materials producer SCCC, reduced from 26.8%. The shares have been bought by Bangkok Broadcasting and Television, which itself is owned by the Ratanarak Group.

Holcim said it would remain a strategic partner of SCCC, which has a cement production capacity of 16.5 million tonnes at its Saraburi plant and reported net sales of US$ 755 million in 2011.

Meanwhile in Guatemala, Cementos Progreso’s majority shareholder, Grupo Cemcal Progreso, bought Holcim’s 20% stake in the company.

The news comes after Holcim said it expected to book CHF 510 (US$ 560 million) in fourth quarter charges and write-downs related to the restructuring of its European business.

Latest News
Aggreko report shows engineers willing to pay more for ‘green’ equipment
Willingness to pay more is driven by need to fulfil company sustainability strategies
Haulotte announces Thailand distributor
New partnership to aid OEM’s growth in the region 
UK competition watchdog to investigate 8 major UK housebuilders
The UK’s competition watchdog is to investigate eight of the country’s biggest housebuilders following evidence that suggests they may have been sharing commercially sensitive information.