HeidelbergCement and H+H sell joint venture

HeidelbergCement and H+H sell joint venture
Published: 08 March 2004

HeidelbergCement and the Danish-based aerated concrete producer H+H International are selling their joint venture H+H Fiboment to its management backed by private equity firm Procuritas Capital Investors for an undisclosed amount.  H+H Fiboment was formed in 2000 through the joint sellers merging their pre-cast lightweight concrete panels and the disposal forms part of both HeidelbergCement and H+H International concentrating on their core activities.  H+H Fiboment, which will have to change its name after an initial period, is based at Vejle in Denmark and its activities covers Denmark, where it is market leader in its field, and Germany.