CSN to buy Holcim Group’s Brazilian operations

The Swiss construction materials group Holcim announced on September 10th that it will sell its activities in Brazil, valued at US$ 1.025 billion (the equivalent of R$ 5.35 billion), to Companhia Siderúrgica Nacional (CSN).

According to a statement, the company signed an agreement to sell the complex, which includes five cement plants, four crushing stations, six centers specializing in granules, and 19 concrete centers, which reaches a business value of US$ 1.025 billion.

The transaction will significantly reduce its debt ratio and give it “flexibility to continue investing in attractive growth opportunities,” said the Swiss company’s CEO, Jan Jenisch.

In April, Holcim acquired Firestone Building Products, an American subsidiary of the Japanese group Bridgestone Corporation, for US$ 3.4 billion, which allowed it to start diversifying into waterproofing products for roofs.

The deal was the first major acquisition since Jenisch took charge of the group in 2017.

Source: G1

To read the full original article, visit the link:

https://g1.globo.com/economia/noticia/2021/09/10/grupo-holcim-vendera-tividades-no-brasil-para-csn.ghtml