12/01/2021 | Press release | Distributed by Public on 12/01/2021 02:05
HeidelbergCement has signed an agreement to sell its subsidiary Sierra Leone Cement Corporation Ltd. (Leocem) to the Diamond Cement Group. HeidelbergCement holds 50% of the shares in the company and has full management responsibility.
The sale includes a cement grinding plant with two grinding mills. The plant is located in Sierra Leone's capital Freetown and has a capacity of approximately 500,000 tonnes per year.
The divestment is part of HeidelbergCement's ongoing portfolio optimisation and margin improvement programme within its 'Beyond 2020' strategy. In West Africa, HeidelbergCement will continue to focus on its core markets in Ghana, Liberia, Togo, Burkina Faso, Benin, and Gambia.
HeidelbergCement is one of the world's largest integrated manufacturers of building materials and solutions, with leading market positions in aggregates, cement, and ready-mixed concrete. Around 53,000 employees at more than 3,000 locations in over 50 countries deliver long-term financial performance through operational excellence and openness for change. At the center of actions lies the responsibility for the environment. As forerunner on the path to carbon neutrality, HeidelbergCement crafts material solutions for the future.