FLSmidth has signed an agreement with a company in the Solix Group to sell all shares in Cembrit Holding, a leading distributor and manufacturer of fibre-cement products in Europe. The buyer is a consortium of investors headed by Solix Group, whose strategy is to retain and further develop Cembrit as the leading distributor and manufacturer of fibre-cement products in Europe. Cembrit has been part of the FLSmidth Group since 1927, and its sale concludes FLSmidth's divestment of building materials compan
FLSmidth has signed an agreement with a company in the Solix Group to sell all shares in Cembrit Holding, a leading distributor and manufacturer of fibre-cement products in Europe.
The buyer is a consortium of investors headed by Solix Group, whose strategy is to retain and further develop Cembrit as the leading distributor and manufacturer of fibre-cement products in Europe.
Cembrit has been part of the FLSmidth Group since 1927, and its sale concludes FLSmidth’s divestment of building materials companies, a process that started ten years ago by the divestment of Aalborg Portland and Unicon.
“It is my firm belief that we on all parameters have reached a satisfactory agreement by divesting Cembrit to a new owner who wants to further develop and grow the business to the benefit of both employees and customers”, says Bjarne Moltke Hansen, group executive vice president, FLSmidth.
The transaction is expected to close finally during the first quarter of 2015, and the sale of Cembrit is expected to have a positive impact on FLSmidth’s profit from discontinued activities in Q1 2015 subject to the closing balance.
