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| Holcim to sell its operations in New Caledonia Swiss cement maker Holcim will sell its operations in New Caledonia (Holcim Nouvelle Calédonie S.A.) to Tokuyama Corporation of Japan for an undisclosed amount. This transaction has to be viewed in the light of the Holcim Leadership Journey. Selective divestments if and when they make strategic sense are an integral part of the Groups' drive to increase operating profit by CHF 1.5 billion until 2014 compared to 2011. Holcim Nouvelle Calédonie S.A., which runs a grinding plant with an annual capacity of 200,000 tonnes of cement, has always been slightly isolated from the rest of the Group's assets, making this divestment a strategically viable solution. Tokuyma was founded in 1918 and has been present in the cement market since 1938. Tokuyama will acquire 74.1% of issued ordinary shares owned by Holcim (Outre-Mer) S.A.S. The transaction is scheduled to be closed on June 27, 2013. After the acquisition, the name of the company will change to 'Tokuyama Nouvelle Calédonie S.A'. In the market, the brand will be gradually adapted to reflect this by the end of the year. This change in brand will be the most visible impact for customers and employees. Local management will remain in charge and there are no plans for reducing headcount. write your comments about the article :: © 2013 Construction News :: home page |