21 Jun 2023 11:08

Italy's Buzzi selling business in Ukraine, Slovakia to CRH

MOSCOW. June 21 (Interfax) - Italian cement producer Buzzi Unicem is selling part of its business in Eastern Europe to CRH, Ukrainian media reported, citing Buzzi's website.

"Buzzi, through the fully owned subsidiary Dyckerhoff GmbH, has reached an agreement to sell some of its businesses in Eastern Europe to CRH, a leading building materials solutions company, for a consideration of €0.1 billion. The transactions include the business in Ukraine and ready-mix concrete assets in East Slovakia," the company said in a press release.

The completion of the deal in Ukraine is subject to the required regulatory approval and is expected to occur in 2024.

Dyckerhoff is Buzzi's division in Eastern Europe. The Ukrainian division, PJSC Dyckerhoff Cement Ukraine has branches set up at the Volyn Cement (Zdolbunov, Rovno region) and YuGtsement (Olshanskoye, Nikolayev region) plants. The group also operates in the ready-mix concrete industry in Kiev, Odessa and Nikolayev.

Buzzi Unicem SpA produces cement, concrete, sand, crushed rock and other products, but its main business is cement, which it produces at its own plants in several countries, including Ukraine. Buzzi's assets in Eastern Slovakia consist of six ready-mix concrete plants.

Ireland's CRH Plc entered the Ukrainian market in 1999 with the acquisition of the Kamenets-Podolsky cement plant in Khmelnitsky region. CRH now also owns the Odessa cement plant and Nikolayevcement in Lvov region. CRH also produces concrete and prefabricated concrete products in Ukraine.