Holcim sells cement business in Northern Ireland
By Leila Steed27 January 2022
Swiss multinational Holcim Group has sold its cement business in Northern Ireland to newly-established construction company Cookstown Cement, in deal worth CHF70 million (£56.4 million).
Known as Lafarge Cement Ireland and owned by Holcim subsidiary Aggregate Industries, the cement business has a production capacity of 450,000 tonnes a year.
Its sale is reported to include a limestone quarry and a production facility in Cookstown, County Tyrone, as well as a shale quarry in Dungannon and facilities at Belfast Harbour.
Miljan Gutovic, Holcim Region Head EMEA, said, “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 Ltd, we are pleased to have found a strategic and trusted owner for the business, better positioned to continue investing in its long term growth.”
Cookstown Cement, which was established by a “longstanding business partner of Holcim”, is to start its ownership of Lafarge Cement Ireland by investing around £12 million in upgrading its facilities and environmental capabilities.
David Millar, Managing Director of Cookstown Cement Ltd and a former executive at Lafarge, 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.”