The takeover of Cementos de Hispania S.A. allows Holcim to enter the key Spanish cement market of Madrid and to complement the existing industrial set-up in Spain.
Subject to the approval of Spain's antitrust authorities, Holcim is to take over almost 100 percent of Cementos de Hispania S.A. (Hispania).
This major strategic step will give Holcim control over Dyckerhoff AG's Spanish operations, including the Yeles cement plant some 40 kilometers south of Madrid with an expandable annual capacity of 0.9 million tonnes of cement.
Part of the acquisition is also Hispania's subsidiary Preresa with its well positioned mortar business.
With an acquisition price of EUR 190 million, Holcim is paying EUR 210 per tonne of cement capacity.
Together with its other product lines, Hispania achieved total sales of EUR 62 million in 2002.The company and its subsidiary employ a workforce of around 200.
Hispania ideally rounds out Holcim's existing activities on the Iberian Peninsula.
Holcim (España) S.A. already operates 5 cement plants with a combined annual capacity of 4.5 million tonnes and 9 terminals at major centers in the south, southeast and northwest of Spain.
The company also has a dense network of concrete facilities, gravel plants and mortar processing facilities. Holcim has already built up a successful base in the Madrid area, supplying clients with concrete and aggregates (gravel and sand) since the nineties.
The acquisition of Hispania will allow Holcim to offer its entire product range in Madrid.
Holcim (España) S.A. achieved consolidated sales of EUR 431 million in Spain in 2002 with a workforce of just under 1500.With majority and minority interests in more than 70 countries on all continents, Holcim is one of the world's leading suppliers of cement, as well as aggregates (gravel and sand), concrete and construction-related services.