Duna-Dráva Cement Kft. to acquire company group
DDC increases its concrete business and expands into the field of paving stone manufacturing by acquiring Readymix Hungária Kft.
Readymix Hungária Kft., its subsidiaries, and their investments are being transferred into the ownership of Duna-Dráva Cement Kft. (DDC) by November 2017 after the approval of the Hungarian Competition Authority (GVH) published on the 3rd of October.
The predecessor of Readymix Hungária Kft. was sold back in 2015 by the Mexican based CEMEX to Rohrdofer Group, which is present in several European countries. After this, DDC purchased the company from Rohrdorfer Group. The takeover may come into effect after the authorizing resolution of GVH. Within six months of the acquisition scheduled to take place in November, DDC is obliged to sell certain concrete plants, which are operated either independently or jointly with others. According to the GVH’s resolution until the completion of the sales an appointed fusion commissioner will oversee the continuation of the value and economic viability of the plants that will be divested.
With this acquisition DDC’s main goal is to further strengthen its market position and expand its activities in the relevant fields. The takeover provides an opportunity to widen its current presence. The ready-mix concrete business line of the company will almost double, strengthening its countrywide network, while the Vác-based corporation will become a new player in the field of paving stone manufacture.
Duna-Dráva Cement Kft. is one of the major construction material manufacturers of Hungary, producing cement, ready-mix concrete and aggregates, with services spreading over the full scope of concrete technology. Its consolidated annual sales revenue in 2016 reached beyond HUF 44 billion. DDC currently operates two cement plants, one in Beremend, and one in Vác.
Readymix Hungária Kft. operates 31 ready-mix concrete plants, 4 aggregate quarries and deposit stations, and 4 paving stone factories in Hungary. In 2016 its consolidated annual sales revenue was above HUF 10 billion.