HeidelbergCement and Kongsvinger merge precast concrete activities
HeidelbergCement Northern Europe (HCNE) and KB Gruppen Kongsvinger (KBG) have agreed to merge Abetong and Contiga, the precast concrete activities of the two companies, respectively. The Abetong and Contiga brands will continue to operate in parallel in the new combined entity which will be active in Norway, Sweden, Denmark, Germany, Poland and Latvia. HCNE will be the majority shareholder in the new entity which had pro forma revenues in 2014 of 3.3 billion SEK. The deal is subject to approval from the relevant competition authorities.
HeidelbergCement is the global market leader in aggregates and a prominent player in the fields of cement, concrete, and other downstream activities, making it one of the world’s largest manufacturers of building materials. The company employs some 51,000 people at 2,500 locations in more than 40 countries.
HeidelbergCement was advised by Mannheimer Swartling in the transaction. The firm’s team was led by Peter Linderoth and included Jens Agö, Fredrik Berndt, Anna Bryngelsson, Annika Edmén, Anders Ingvarson, Daniel Kim, Johan Lekholm and Isabel Lindeberg