HeidelbergCement announces that it has entered into an agreement with Compagnie de Saint Gobain on the sale of maxit Group. The purchase price amounts to EUR 2,125m. The closing is subject to regulatory approval and HeidelbergCement expects the transaction to close in late 2007.
With the sale of maxit HeidelbergCement pursues consequently its strategy of focusing on processing and refining of raw materials for its core products cement and aggregates and further downstream activities.
HeidelbergCement will use the transaction proceeds to help finance its acquisition of the British building materials producer Hanson PLC announced earlier this year.