Holcim to buy Spain's Tarmac Iberia for CHF 238m

13th June 2008, Comments 0 comments

The Swiss cement maker is buying Spanish firm Tarmac Iberian for CHF 238 million (EUR 148 million).

13 June 2008

ZURICH - Swiss cement maker Holcim Ltd. said Friday it is buying Spanish firm Tarmac Iberia for CHF 238 million.

Holcim said it hopes to complete the takeover in September following regulatory approval.

Madrid-based Tarmac Iberia has 460 employees and an annual turnover of about EUR 200 million. It is currently owned by mining company Anglo American.

Shares in Holcim were down 0.6 percent at CHF 90.65 Swiss francs on the Zurich exchange.

[AP / Expatica]

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