Items filtered by date: Friday, 05 April 2024

Romania: IBB Holding inaugurated a new €1.5m ready-mix concrete batching plant in Mogoșoaia, Bucharest. Money News has reported that the plant is the company’s fourth.

CEO Ion Crăciunescu said "Through this new concrete plant located in the north of Bucharest, we are in a favourable position to participate in tenders for infrastructure projects in this area and establish strategic partnerships with real estate developers. Moreover, we can ensure the quality of the materials used, faster and more efficient services. Our strategy is to offer services integrated with production, with responsibility towards the environment and towards future generations, adapted to each type of project in which we are involved: infrastructure, residential, commercial or industrial construction. The real need that Romania has both in terms of investments in infrastructure and in the housing fund, as well as the projects already started, leads us to look optimistically at the development of our businesses in the medium and long term."

Bulgaria: The government has licensed concrete and aggregates producer Balastrieri to conduct aggregates exploration on land in Yakoviya Chiflik, Plovdiv. SeeNews has reported that the licence will last until April 2025. Balastrieri plans to invest €13,800 in exploration at the site.

Argentina: Holcim Argentina has paid US$28.5m to acquire Tensolite, a producer and supplier of precast and prestressed concrete products such as concrete blocks, fences, tiles and paving stones. This move aims to diversify its domestic product portfolio in response to the ‘significant’ decline in local cement dispatches.

The acquisition is valued at US$28.5m, according to The National Securities Commission has reported that Holcim will pay US$19m upon closure of the transaction and another US$6.65m 12 months thereafter. The remaining US$2.85m will be due in five equal annual instalments.

Christian Dedeu, CEO of Holcim Argentina, said “In March, we recorded a 40% year-on-year drop in dispatches, according to the Portland Cement Manufacturers Association. The decision to expand our product range is key to mitigating the sharp drop in sales.”

The deal includes integrating two precast and prestressed concrete plants located in Los Pocitos (Tucuman) and Río Segundo (Córdoba), and adding over 150 employees to Holcim Argentina's workforce. The acquired plants have a total production capacity of 12m concrete blocks per year and 14Mm/yr of concrete beams. Holcim aims for 30% of its revenue to come from non-cement construction services by 2025.