Holcim and Cemex to swap assets in Europe
ZURICH Aug 28 (Reuters) - Holcim, the world's largest cement maker by market value, said on Wednesday it would swap some assets with Mexican peer Cemex in Europe, with the aim of boosting operating profit by at least 20 million euros ($26.8 million).
As part of a reorganisation, Holcim will acquire Cemex's operations in Western Germany, while Cemex will take over Holcim's operations in the Czech Republic.
The two companies will also combine their operations in Spain, with Holcim taking a 25 percent stake in the combined entity. Holcim said it will pay Cemex 70 million euros in cash for the interlinked transactions.