Holcim to sell Brazil ops to CSN in $1bn divestment

Swiss construction giant Holcim said Friday it has agreed to sell its Brazil operations to the cement unit of Brazilian steelmaker Companhia Siderurgica Nacional (CSN) in a $1 billion divestment deal.

“This divestment is another step in our transformation to become the global leader in innovative and sustainable building solutions giving us the flexibility to continue investing in attractive growth opportunities,” said Holcim Chief Executive Jan Jenisch.

The deal, with an entreprise value of $1.025 billion (866 million euros), includes Holcim’s five integrated cement plants, four grinding stations, six aggregate sites as well as 19 ready-mix concrete facilities.