Holcim Buys Teko Mining Serbia For Undisclosed Sum

Holcim Limited or LafargeHolcim (HCMLY.PK,HCMLF.PK), a Swiss building materials maker, said on Tuesday that it has acquired Teko Mining Serbia, a producer of aggregates.

The financial terms of the transaction, the fourth bolt-on acquisition in southeastern Europe this year, were not disclosed.

Miljan Gutovic, Region Head Europe Middle East Africa, said: "Teko complements our existing cement and concrete operations perfectly, allowing us to add aggregates and asphalt as part of our integrated offer in this highly dynamic market…"

Teko is also expected to support the Swiss firm to expand its business in Serbia and develop circular solutions to recycle construction & demolition waste in the future.

Teko Mining Serbia, with projected sales of 20 million euros for 2022, sells 2.4 million tons of aggregates a year.

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