HeidelbergCement chief says will only proceed with sale or listing of Hanson Building Products at right price
HeidelbergCement, the listed, German construction materials company, will only proceed with a sale or listing of Texas-based Hanson Building Products if the price is right, Boersen-Zeitung reported.
The German-language daily cited HeidelbergCement Chief Executive Officer Bernd Scheifele as saying that Hanson Building Products is currently functioning well, and could stay with HeidelbergCement if a bidder does not offer a price corresponding to its value. The report said the company's value has been estimated at EUR 1.5bn.
Scheifele was cited as saying that Hanson's building products operations, mostly focusing on tiles, have been producing good revenues and profit, making this field interesting for HeidelbergCement itself.
Scheifele said the future of Hanson Building Products will be decided for sure in the coming few weeks.
As for possible buyers of the business, Scheifele said that a reasonable number of financial investors are among those interested, and that the investment firm Bain Capital had been on the list but is not any longer.
HeidelbergCement has lost interest in buying some assets from rival building materials companies Lafarge and Holcim, the article noted.
Boersen-Zeitung