HeidelbergCement sells Sierra Leone business to Diamond Cement Group
Global integrated manufacturer of building materials and solutions HeidelbergCement has signed an agreement to sell its subsidiary Sierra Leone Cement Corporation Ltd. (Leocem) to the Diamond Cement Group.
HeidelbergCement holds 50% of the shares in the company and has full management responsibility. The sale includes a cement grinding plant with two grinding mills.
The plant is located in Sierra Leone’s capital Freetown and has a capacity of approximately 500,000 tonnes per year.
The divestment is part of HeidelbergCement’s ongoing portfolio optimisation and margin improvement programme within its ‘Beyond 2020’ strategy. In West Africa, HeidelbergCement will continue to focus on its core markets in Ghana, Liberia, Togo, Burkina Faso, Benin, and Gambia.
HeidelbergCement has an estimated 53,000 employees at more than 3,000 locations in over 50 countries.