The transaction is already approved by the Australian authorities. The parties have agreed not to disclose the cash purchase price. In future, Holcim and HeidelbergCement should be equally represented on the board of directors and the chairmanship should rotate.
This transaction is part of the Holcim Leadership Journey and the new joint venture will be proportionately consolidated by Holcim upon conclusion of the contract.
Cement Australia operates two cement plants and a grinding station in the East and Southeast of Australia and in Tasmania with a total annual capacity of 4.2 million t of cement.
Furthermore, a new grinding station in Port Kembla with an annual capacity of 1.1 million t of cement will go on stream in 2013. The company has more than 1000 employees and recorded a turnover of approximately 1 billion AUD in 2012.