January 14, 2019 / 12:55 PM / 5 months ago

HeidelbergCement says it is on track to sell assets worth 1.5 billion euros

FILE PHOTO: A logo of HeidelbergCement is pictured in Heidelberg, Germany, June 21, 2016. REUTERS/Ralph Orlowski

FRANKFURT (Reuters) - Cement maker HeidelbergCement (HEIG.DE) on Monday said it would deliver proceeds of about 500 million euros ($573 million) in asset sales in 2018, putting it on track for 1.5 billion in planned disposals by the end of 2020.

“We remain committed to improving shareholder value and maintaining a solid investment grade rating,” Chief Executive Bernd Scheifele said in a statement.

He added that the company closed the divestment of a minority participation in Syria last month.

Reporting by Christoph Steitz, editing by Tassilo Hummel

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