Holcim Strengthens Latin American Presence with Tensolite Acquisition

Holcim Strengthens Latin American Presence with Tensolite Acquisition

(IN BRIEF) Holcim has announced the signing of an agreement to acquire Tensolite, a prominent manufacturer of precast and pre-stressed concrete construction systems with a strong foothold in fast-growing Latin American markets. Tensolite’s $22 million net sales in 2023 and extensive presence across Argentina, Paraguay, and Uruguay will bolster Holcim’s Solutions & Products portfolio and enhance its geographical reach. Oliver Osswald, Region Head for Latin America at Holcim, emphasizes the strategic significance of the acquisition, highlighting Tensolite’s innovative product range and potential synergies with Holcim’s existing business units. With Tensolite’s expertise in concrete construction systems and Holcim’s commitment to expanding its Solutions & Products business in line with its “Strategy 2025 – Accelerating Green Growth,” the acquisition signifies a step forward in Holcim’s journey towards sustainable and profitable growth. The transaction is expected to close in the second quarter of 2024, subject to customary conditions and regulatory approval.

(PRESS RELEASE) ZUG, 5-Apr-2024 — /EuropaWire/ — Holcim has signed an agreement to acquire Tensolite, a leading manufacturer of innovative precast and pre-stressed concrete construction systems with $22 million of net sales in 2023 and a strong presence in fast-growing Latin American markets. With plants and a distribution network across Argentina, Paraguay and Uruguay, Tensolite will expand Holcim’s Solutions & Products portfolio and strengthen its geographical footprint.

Oliver Osswald, Region Head Latin America, said: “By acquiring Tensolite, we are further expanding our Solutions & Products portfolio in Latin America and globally. Due to its leadership in innovative precast and pre-stressed construction systems, Tensolite will be an important part of our continued expansion into the most attractive markets, while offering synergies with other other business units such as our network of yard stores, Disensa. I am excited to further grow Tensolite and to welcome all 155 employees to the Holcim family.”

Tensolite was founded in 1979 and specializes in concrete construction systems from joists and roof tiles, to customized products for large civil works, from bridge beams and precast to grandstands and walkways. Tensolite’s flagship range of pre-stressed joists for ceilings and mezzanines incorporate smart design, with lighter slabs saving concrete, formwork and time. Around 80% of single-family homes in Argentina are built with concrete joists, representing a market with significant potential. Other innovations include Tensolite’s cost-efficient interlocking precast walls, which can be installed by four people without the use of cranes or other machinery.

This acquisition advances Holcim’s “Strategy 2025 – Accelerating Green Growth” with the goal to expand its Solutions & Products business to 30% of Group net sales by 2025, entering the most attractive segments of the construction industry, from roofing and insulation to repair and refurbishment. The transaction is in line with Holcim’s commitment to strict financial discipline and is subject to customary conditions and regulatory clearance. It is expected to close later in Q2 2024.

About Holcim

Holcim is a global leader in innovative and sustainable building solutions with net sales of CHF 27.0 billion in 2023. Driven by our purpose to build progress for people and the planet, our 63,448 employees are on a mission to decarbonize building, while improving living standards for all. We empower our customers across all regions to build better with less, with a broad range of low-carbon and circular solutions, from ECOPact and ECOPlanet to our circular technology platform ECOCycle®. Through innovative systems, from Elevate roofing to PRB insulation, Holcim makes buildings more sustainable in use, driving energy efficiency and green retrofitting. With sustainability at the core of our strategy, we are on the way to becoming a net-zero company with 1.5°C targets validated by SBTi.

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Important disclaimer – forward-looking statements:

This document contains forward-looking statements. Such forward-looking statements do not constitute forecasts regarding results or any other performance indicator, but rather trends or targets, as the case may be, including with respect to plans, initiatives, events, products, solutions and services, their development and potential. Although Holcim believes that the expectations reflected in such forward-looking statements are based on reasonable assumptions as at the time of publishing this document, investors are cautioned that these statements are not guarantees of future performance. Actual results may differ materially from the forward-looking statements as a result of a number of risks and uncertainties, many of which are difficult to predict and generally beyond the control of Holcim, including but not limited to the risks described in the Holcim’s annual report available on its website (www.holcim.com) and uncertainties related to the market conditions and the implementation of our plans. Accordingly, we caution you against relying on forward-looking statements. Holcim does not undertake to provide updates of these forward-looking statements.

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SOURCE: HOLCIM