Holcim to sell its operations in New Caledonia

Holcim to sell its operations in New Caledonia
18 June 2013

Holcim will sell its operations in New Caledonia (Holcim Nouvelle Calédonie SA) to Tokuyama Corporation of Japan for an undisclosed amount.

Holcim Nouvelle Calédonie SA, which runs a 200,000tpa grinding plant, has always been “slightly isolated from the rest of the group’s assets,” the company said in statement, making this divestment a strategically viable solution.

Tokuyama will acquire 74.1 per cent of issued ordinary shares owned by Holcim (Outre-Mer) SAS. The transaction is scheduled to close on 27 June 2013.

After the acquisition, the name of the company will change to 'Tokuyama Nouvelle Calédonie S.A.' Local management will remain in charge and there are no plans to reduce staff numbers.

This transaction has to be viewed in the light of the Holcim Leadership Journey. “Selective divestments if and when they make strategic sense are an integral part of the Groups’ drive to increase operating profit by CHF 1.5bn until 2014 compared to 2011,” Holcim highlighted.

Published under Cement News