With the sale of maxit HeidelbergCement pursues consequently its strategy of focusing on processing and refining of raw materials for its core products cement and aggregates and further downstream activities.
HeidelbergCement will use the transaction proceeds to help finance its acquisition of the British building materials producer Hanson PLC announced earlier this year.
Goldman Sachs acted as financial advisor to HeidelbergCement for the maxit transaction.
Dr. Bernd Scheifele, CEO of HeidelbergCement explained: “With the acquisition of Hanson, in particular, we have re-oriented our business strategy. maxit Group is a profitable and innovative company, but its broad spectrum of products and customers no longer fits with the new direction of HeidelbergCement. We are pleased to have found a buyer in Saint Gobain that will be better able to contribute to the continued growth of maxit.”
maxit Group is the leading producer of dry mortar in Europe and expanded clay products worldwide. In 2006, maxit achieved record earnings as a result of restructuring, especially in Germany, and a favourable market environment internationally. The company employs a staff of 5,130 and is present in 30 countries. In 2006 turnover totalled approximately EUR 1.2 billion and operating income before depreciation reached EUR 179 million.