HeidelbergCement AG Exploring Sale of U.S. Assets?

Dec. 22, 2020 – According to reports, HeidelbergCement AG is exploring the sale of U.S. assets as Chief Executive Officer Dominik von Achten seeks to divest peripheral businesses. Germany’s largest cement maker is reportedly working with Morgan Stanley on the sale of the operations in California. The unit could fetch an estimated $1.5 billion. HeidelbergCement’s advisers recently sent initial marketing documents to potential buyers, according to sources. They have reportedly approached rivals including Martin Marietta Materials Inc., Cemex SAB, CRH Plc, Summit Materials Inc. and LafargeHolcim Ltd., as well as other cement makers in emerging markets like China and Latin America. More information will be forthcoming in the near future.