Swiss Building Materials Giant Holcim Group Sells All Businesses in Russia Including Cement

Swiss National Radio and Television reported on December 14 that Holcim, a Swiss building materials group, sold all its business in Russia to local management because of the Russian-Ukrainian issue. Holcim announced that the divestment had no significant financial or business impact on the group. It is reported that in 2021, Holcim's business in Russia contributed less than 1% to the group's comprehensive sales and operating profits. Holcim has been looking for a buyer since it decided to pull out of Russia when the Ukraine issue erupted in the

spring. After the new owner, the company will operate independently under other brands.

Holcim owns three cement plants and three quarries in Russia, employing more than 1,000 people. The Schurowski cement plant near Moscow, the largest of the three, was completely renovated between 2008 and 2011 at a cost of 550 million euros. A plant in Volsk, about 750 kilometers southeast of Moscow, also underwent a major upgrade in 2017, costing more than 280 million euros. The plant in Kaluga became operational in 2014 at a cost of around 500 million euros.