Swiss construction giant Holcim AG announces the sale of its Nigerian operations to Huaxin Cement of China in a $1 billion deal. The agreement involves Holcim’s 83.81% stake in Lafarge Africa PLC, with completion expected in 2025, pending regulatory approval.
This divestment aligns with Holcim’s strategy to streamline operations and focus on core markets, particularly in North America. The company plans to list its North American business next year to tap into rising demand for sustainable construction materials amid a housing shortage.
In a statement, Holcim emphasizes its commitment to optimizing operations:
“This transaction with Huaxin Cement reflects our focus on sustainable growth and strategic portfolio management. We aim to invest in markets with the highest potential for long-term value.”
This isn’t Holcim’s first exit in Africa. In 2021, the company sells its 75% stake in its Zambian business to Huaxin Cement for $150 million. Holcim’s CEO, Jan Jenisch, highlights these moves as part of a broader transformation into a leader in sustainable building solutions.
“Divesting non-core assets gives us the flexibility to invest in high-growth opportunities globally. Huaxin has proven to be a reliable partner,” Jenisch states during the Zambian sale announcement.
Holcim now shifts focus toward regions with strong growth in sustainable construction, such as North America. The company’s ongoing portfolio reshaping generates over $3 billion in asset sales since 2019.
Holcim AG, headquartered in Switzerland, is a global leader in building materials, specializing in cement, concrete, aggregates, and sustainable construction solutions. With over 70,000 employees, the company emphasizes innovation and sustainability in its global operations.
