Companies outline details of asset sales ahead of planned merger
Construction materials giants Lafarge and Holcim have announced details of asset disposals in the US ahead of their planned merger.
In a joint statement Lafarge said it would sell its Davenport cement plant in Iowa as well as seven cement terminals along the Misissippi river to Summit Materials for $450m in cash plus Summit’s Bettendorf, Iowa cement terminal.
Holcim plans to sell three terminals in Michigan and Illinois as well as theHolcim Skyway 600kt slag grinding station in Illinois, a 700kt slag grinding station in New Jersey, along with a terminal in Massachusetts.
The divestments form part of the merger to create LafargeHolcim group, which is expected to complete in July. The new company would operate in 90 countries worldwide.