HERACLES Group acquires two ready-mix concrete plants in Attica

LafargeHolcim’s HERACLES Group has signed an agreement with HALYPS Domika Ylika SA of Heidelberg Cement to acquire the aggregates business and two ready-mix concrete plants in Athens, Greece. The acquisition will strengthen HERACLES Group’s position to support Athens thriving metropolitan area and key infrastructure projects with sustainable building solutions. This is LafargeHolcim’s fifth bolt-on acquisition in 2021, a key driver of the company’s growth strategy.

Miljan Gutovic, Region Head EMEA: “I am excited about the opportunities and growth prospects of this acquisition in the Attica region of central Greece. It will provide additional support towards our net zero ambition with our leading range of sustainable building solutions such as ECOPact green concrete. With this acquisition, I look forward to welcoming many new colleagues into the LafargeHolcim family.”

The aggregates business in Mandra is one of the largest aggregate businesses in Greece. The two ready-mix concrete plants are based in Gerakas and Aspropyrgos. The acquisition will offer HERACLES customers an expanded product portfolio of aggregate and concrete solutions, suitable for all construction projects. For instance, this April HERACLES Group launched its ECOPact green concrete range with a reduced CO2 footprint, offering innovative and sustainable construction solutions for the construction market across Greece.

The acquisition in the field of aggregates expands the geographical footprint of the company in this activity and strengthens its competitiveness in the dynamically developing market of Attica. The aggregates quarry in Mandra, Attica is one of the largest aggregates quarries in Greece and Europe.

HERACLES Group will have the opportunity to sell a variety of products for use in the production of concrete, bituminous concrete, cement, plaster, paving and for the construction of any major infrastructure project.

The acquisition in the ready-mixed concrete sector expands the service network in Attica, strengthening the support of the Group’s customers in every project. These concrete units offer the possibility of selling innovative concretes, such as Lafarge Special Concretes (Agilia, Hydromedia, Artevia, Ultra). In addition, the HERACLES Group intends to immediately sell the new green series of low carbon concrete ECOPact, which was recently presented in the Greek market and gives added value to sustainable constructions.

The Group intends to maximize the synergies that arise based on the network of other concrete units, in which it already operates in Attica (Koropi, Rafina, Acharnes), but also in the vicinity of the Cement Distribution Center that it maintains in Drapetsona.

Employees currently working in the facilities to be acquired by the HERACLES Group will continue to enjoy the same rights and working conditions as before without the slightest change in their employment status.

Mr. Dimitris Chanis, CEO of the HERACLES Group, stated in this regard: “Today we are proceeding with a strategic investment for the HERACLES Group. This acquisition is in line with our development strategy and confirms LafargeHolcim’s confidence in Greece and its development prospects. This significant investment strengthens the geographical footprint of the Group in Attica in view of important development projects and infrastructure that are to be carried out. In addition, our customers will benefit from the expanded product portfolio of aggregates, specialty and low carbon concrete. In the coming years we have a unique opportunity to accelerate the transition to sustainable construction. The HERACLES Group, with the investment it announces today, further enhances the dynamic development of innovative and environmentally friendly construction solutions, while at the same time reaffirming its commitment to lead the transition to a lower carbon footprint industry “.