Holcim has acquired Teko Mining Serbia, one of the country's largest independent aggregates companies, with estimated 2022 net sales of over Є20 million.
A highly profitable company with substantial reserves, Teko Mining sells 2.4 million tonnes of aggregates yearly. The acquisition includes Teko’s four quarries and will strengthen Holcim’s footprint in the dynamic Serbian market, complementing its recent acquisition of another aggregates operation in the region.
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. I look forward to welcoming the employees of Teko Mining, whose expertise will be invaluable in accelerating our growth, especially in the highly dynamic Serbian market and enable us to develop circular solutions to recycle construction & demolition waste in the future.”
Teko Mining employs over 150 people and has quarries in Batocina, Ceramide, Ljubovija and Ladne Vode. Its high-quality aggregates are strategically located for asphalt production, railway construction and high-strength applications.
The acquisition of Teko Mining is Holcim’s fourth bolt-on acquisition in southeastern Europe in 2022 after the purchase of Heidelberg Cement’s aggregates and ready-mix concrete assets in Athens and the majority stake in independent ready-mix concrete operations in Sofia and Zagreb as well as the above-mentioned aggregates operation in Serbia. The acquisition will advance Holcim’s Strategy 2025 – Accelerating Green Growth by further fueling growth with bolt-on acquisitions in the aggregates and ready-mix concrete businesses.
