HeidelbergCement signs deal with Istra Cement, Croatia

HeidelbergCement signs deal with Istra Cement, Croatia
Published: 09 June 2006

HeidelbergCement AG signed a contract with Mid Europa Partners on the sale of their 92,4% stake in Istra cement, ’CT’ reports.

Ownership stake transfer should be completed by the end June, when Mid Europa Partners should become majority owner of this company.

HeidelbergCement AG decided to sell a part of the group related to production of Calcium-Aluminate Cement, which includes Istra cement, in accordance with HeidelbergCement strategy which is to focus on production of Portland cement.

Mid Europa Partners will maintain the present management of Istra cement, and plans to enforce a new development strategy.