In in the middle of December 2017 HeidelbergCement announced that it has signed an agreement with H+H International A/S and its subsidiary H+H Deutschland GmbH to sell its German and Swiss calcium silicate unit business (“HDKS”). The enterprise value of the transaction amounts to about € 110 million. HeidelbergCement expects the transaction to close in the first quarter of 2018.
HDKS consists of the following indirect subsidiaries of HeidelbergCement: Heidelberger Kalksandstein GmbH, KS-Quadro Bausysteme GmbH and Hunziker Kalksandstein AG together with certain properties owned by subsidiaries of HeidelbergCement AG. The business operates eight factories, thereof seven in Germany and one in Switzerland bordering Germany and employs approximately 200 full-time employees. Estimated 2017 sales is about € 65 million with an EBITDA margin of about 20 %.