After completion of the due diligence and the approval of the Australian authorities, Holcim has successfully completed the acquisition of Cemex Australia as per October 1, 2009, the company said in a statement.
The new Group company, which now trades under the name Holcim (Australia) Pty Ltd, is being fully consolidated as of that date. It continues to operate under the leadership of its proven management team.
Holcim said i that this acquisition enables it to include Australia in its mature market strategy of being active in the cement as well as in the aggregates and ready-mix concrete business.
Holcim Australia’s most important market positions are located in the continent’s more densely populated eastern and southeastern states and in the mining belt of Western Australia – all of which are markets amongst the fastest growing regions in Australia. The purchase price of AUD 2.02bn (CHF 1.77 billion) is entirely financed with the proceeds from the capital increase of July this year.
It includes 100 per cent of the share capital of Holcim Australia and a 25 per cent interest in Cement Australia, in which Holcim already held a 50 per cent shareholding.