HeidelbergCement plans to start sale of building materials business in September

HeidelbergCement plans to start sale of building materials business in September
Published: 31 July 2014

Tagged Under: HeidelbergCement Germany 

HeidelbergCement plans to start the process to divest in its building materials unit in September and expects a quick conclusion of the sale, Reuters reported CEO, Bernd Scheifele, as saying.

The exact assets that HeidelbergCement is looking to dispose of has not been confirmed but is believed to include bricks, roof tiles and limestone products. The move will allow HeidelbergCement to refocus on its core construction products of cement and other heavy aggregates.

Potential buyers include private equity funds, not industrial enterprises, Scheifele said, as quoted by Reuters, without giving any financial details.

Scheifele also told the news agency that the German cement major would consider buying assets to be sold by Lafarge and Holcim ahead of their merger, with the exception of assets located in the UK and Germany.