HeidelbergCement to sell its calcium silicate unit business

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The FINANCIAL — HeidelbergCement announces that it has signed an agreement with H+H International A/S and its subsidiary H+H Deutschland GmbH to sell its German and Swiss calcium silicate unit business.

The enterprise value of the transaction amounts to about € 110 million. HeidelbergCement expects the transaction to close in the first quarter of 2018, according to HeidelbergCement.

“HDKS has a strong market position in the North-East and South-West of Germany as well as in Switzerland, but the focus of its product portfolio on calcium silicate units is outside the core businesses of HeidelbergCement,” said Dr. Bernd Scheifele, CEO of HeidelbergCement. “The disposal is part of our portfolio review and optimization with the goal to generate additional cash flow in order to support our disciplined growth and increase shareholder returns.”

HDKS consists of the following indirect subsidiaries of HeidelbergCement: Heidelberger Kalksandstein GmbH, KS-Quadro Bausysteme GmbH and Hunziker Kalksandstein AG together with certain properties owned by subsidiaries of HeidelbergCement AG. The business operates eight factories, thereof seven in Germany and one in Switzerland bordering Germany and employs approximately 200 full-time employees. Estimated 2017 sales is about € 65 million with an EBITDA margin of about 20 %.

 

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