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Holcim to acquire South American concrete products firm Tensolite
Global Banking & Finance Review®
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ZURICH (Reuters) – Holcim on Friday said it will buy Tensolite, a maker and distributor of pre-cast concrete systems in South America, the latest acquisition by the Swiss building materials company.
ZURICH (Reuters) – Holcim on Friday said it will buy Tensolite, a maker and distributor of pre-cast concrete systems in South America, the latest acquisition by the Swiss building materials company.
Tensolite, which operates in Argentina, Paraguay and Uruguay, had net sales of $22 million in 2023 and will become part of Holcim’s Solutions & Products division.
Terms of the deal, which is expected to close later in the second quarter of 2023, were not disclosed.
(Reporting by John Revill; Editing by Miranda Murray)
An acquisition is a corporate action in which one company purchases most or all of another company's shares to gain control. This can help companies expand their market presence or diversify their offerings.
The construction industry encompasses all activities related to the building of infrastructure, including residential, commercial, and industrial projects. It plays a vital role in economic development and job creation.
Pre-cast concrete systems are construction components that are manufactured in a factory and then transported to the construction site for assembly. They offer efficiency and quality control in building projects.
Business expansion refers to the growth of a company through increased sales, new product lines, or entering new markets. It often involves strategic planning and investment.
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