This was just announced by the multinational Holcim Argentina, a global leader in the production of cement and other building products the purchase of the Tensolite companydedicated, for 94 years, to the production of prefabricated and prestressed concrete.
The deal closed for $30 million and is part of the Holcim Group’s strategy to diversify its portfolio of products and services. Last year it added a glue and plaster plant of the global brand “Tector” and also bought a majority stake in Quimexur, the roofing paint and waterproofing factory.
The Swiss cement factory, listed on the local stock exchange, arrived in Argentina decades ago, through the purchase of Minetti of Cordoba and currently It has four production plants in the country: in Jujuy, Mendoza, Buenos Aires (Campana) and in the Mediterranean province.
Your strategy is successful expand especially within the country, despite Buenos Aires consuming 45% of the total cement produced. In the local market with which it competes Loma Negra, from the Fortabat family and with Cemento Avellaneda.
Starting from the acquisition of Tensolite, the 150 employees of this company will become part of Holcim Argentina, which will thus add approximately 1,500 direct employees. It also maintains the two production plants located in Los Pocitos, province of Tucumán, and in Río Segundo, in Córdoba. These facilities have an installed capacity of more than 12 million blocks and more than 14 million linear meters of joists per year.
According to the CEO of Holcim Argentina, Christian Dedeu, the acquisition allows the cement company to enter the most attractive segments of construction. It happens that today, About 80% of single-family homes in Argentina are built with concrete joists, which is Tensolite’s main product, representing a market with great potential.
Asked about the impact of the block on public works decreed by the Government, Dedeu explained that “construction in Argentina is led by the private sector, i.e. multi-family houses, renovations, etc., which today has slowed down due to the economic crisis and the expectation of a improvement in macroeconomic variables. While “Public works represent 25%”.he pointed.
In any case, the recession has repercussions on the activity of its factories, which Today they are at 60% of their installed capacity,. when until last year they reached 75% and 80%. Another piece of market trend information indicates that in the first quarter of this year, the cement industry fell by 30% compared to the same period of the previous year.
However, while waiting for the market to normalize, the multinational cement company plans to expand the company through its commercial network. So far it has done so through under 550 distributors the Disensa brand and from the purchase of Tensolite it will add another 350 distributors located in different parts of the country to its commercial network which will allow them, among other things, export to Uruguay and Paraguay.
Source: Clarin
