Portfolio optimization continued

In January 2015, Holcim and Cemex successfully closed their series of transactions in Europe. Holcim acquired Cemex’s operations in western Germany and the Netherlands while Cemex took over Holcim Czech Republic with all its subsidiaries in the country.

In Spain the two companies decided not to form a joint organization as initially planned and communicated. Instead, Cemex purchased Holcim’s Gador cement plant and Yeles grinding station, while Holcim has kept its remaining operations. This change of parameters reflects the change in the strategic landscape following the announcement of the proposed merger of Holcim with Lafarge. Hence Holcim and Cemex will remain competitors in Spain and in the Czech Republic. As a result of the transactions, Cemex paid Holcim EUR 45 million in cash. Holcim expects sustainable additional operating EBITDA of at least EUR 10 million on a yearly basis.