The sale is for an enterprise value of CHF70m (€67.46m) and covers a production capacity of 450,000 tons. Cookstown Cement is a newly-founded local construction company, established by a longstanding business partner of Holcim.
Miljan Gutovic, Holcim EMEA region head, commented: “This divestment advances our ‘Strategy 2025 – Accelerating Green Growth’ with a focus on consolidating our leadership in core markets to become the global leader in innovative and sustainable building solutions.
"With Cookstown Cement, we are pleased to have found a strategic and trusted owner for the business, better positioned to continue investing in its long term growth."
David Millar, managing director of Cookstown Cement, said: “We have acquired a great company with a strong team and excellent products and the investment we are making will allow us to expand further in the years to come. This is a fantastic opportunity to bring new investment and a new, local approach to this established business.”
