Holcim Divests East African Cement Businesses for $120 Million

17 Nov 2023 CW Team

Swiss building materials giant Holcim has agreed to sell its Ugandan subsidiary, Hima Cement, to the local conglomerate Sarrai Group for $120 million. Additionally, Holcim will divest its 65% stake in Tanzania's Mbeya Cement Company to Amsons Group for an undisclosed sum. These transactions are part of Holcim's strategy to focus on its core markets. Both deals are subject to regulatory approval.

Hima Cement, headquartered in Kasese, Uganda, is jointly owned by Holcim (70%) and Cem Holdings Ltd (30%). Holcim Group, with subsidiaries in over 80 countries, is a global leader in building materials manufacturing.

Operating two factories in Kasese, Western Uganda, Hima Cement is the country's second-largest cement producer, with an annual output of 2 million metric tonnes, accounting for 28% of national production. At least 20% of Hima's cement is exported to neighboring countries.

In 2018, Hima Cement expanded its operations by opening a new $40 million cement factory along the Tororo-Mbale Soroti Road, increasing its total production capacity to 1,900,000 tonnes annually. The company also owns a limestone quarry in Kamwenge district, ensuring a sustainable supply of raw materials until 2036.

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