"We are pleased with the closing of the transaction in Kuwait," says Dr. Dominik von Achten, Chairman of the Managing Board of HeidelbergCement. "The focus of our portfolio management is on simplifying the country portfolio and prioritising the strongest market positions. The sale of our shares in Hilal Cement in Kuwait is a first step in this process."
Hilal Cement operates in Kuwait four ready-mixed concrete plants and two cement terminals on the local port site. The company joined HeidelbergCement AG in 2016 as part of the acquisition of Italcementi and has since been managed by the Egyptian subsidiary, Suez Cement.
