Holcim Agrees To Buy Germany's Heinrich Teufel For Undisclosed Financial Terms

Swiss building material company Holcim AG (HCMLY.PK,HCMLF.PK), formerly known as LafargeHolcim, Tuesday said it has reached an agreement to acquire Heinrich Teufel GmbH & Co.KG, a German aggregates and ready-mix concrete company. The company did not reveal the financial terms of the transaction.

The deal is subject to approval by the antitrust authorities.

Following the acquisition, Heinrich Teufel will continue to operate under its present name for the time being.

Heinrich Teufel operates a limestone quarry with an asphalt mixing plant and a ready-mix concrete plant, as well as a recycling park and a demolition company. The company employs around 160 people, most of them at the plant in Strassberg.

Miljan Gutovic, Region Head EMEA, said, "The acquisition of Heinrich Teufel will strengthen our footprint in southern Germany in aggregates and ready-mixed concrete. We were especially impressed by their shared commitment to advancing the circular economy."

In Switzerland, Holcim shares were trading at 54.54 Swiss francs, down 0.6 percent.

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