14 May 2009
HeidelbergCement sells asphalt operating line in Australia
In the context of the announced divestment programme, HeidelbergCement has sold its asphalt operating line in Australia. The 50% stake in Pioneer Road Services (PRS) and the whole of Specialised Tanker Transport were acquired by Fulton Hogan, a civil contracting quarrying and asphalt producing company in Australia. Fulton Hogan has had a business association with PRS for many years. HeidelbergCement will continue to supply aggregates to PRS in the future.
The Australian competition authorities have approved the sale.
The sale took place in the context of the reorganisation of the financing structure of HeidelbergCement. The Group is planning to sell selected non-core business units over the next two to three years in order to further reduce its financial liabilities. These are businesses that fall outside the core activities of cement, aggregates (sand and gravel) and concrete. HeidelbergCement is also looking into the possible sale of activities in regions where it sees no possibility for vertical integration.