Heidelberg Materials to acquire 70% stake in Peru's Cementos Inka

Germany's Heidelberg Materials is buying a 70% stake in Peru's Cementos Inka, the company said in a statement on Sept. 8, citing that it "offers compelling growth opportunities in Peru."

The family-owned cement producer in Peru is "excellently positioned to complement and benefit from Heidelberg Materials' established global trading and production network," Heidelberg said, offering strong market access and efficient port connectivity for raw material imports.

Caliza Cemento Inca operates two grinding units with a combined annual capacity of 1.3 million metric tons, as well as two ready-mixed concrete plants, according to Heidelberg.

Heidelberg said it had signed a binding agreement to acquire the 70% stake, noting that the transaction is not subject to regulatory approval.

"Both parties have agreed not to disclose further financial terms of the transaction, which is expected to be closed by October 2026," Heidelberg said.

Heidelberg's stake purchase in Cementos Inka comes after it doubled its shareholding in Turkey's Sabanci Holding to 79.44% following the completion of its purchase of Sabanci Holding's 39.72% stake in June.

Platts, part of S&P Global Energy, assessed ordinary Portland cement (CEM I 42.5R) (bulk) at $56/mt CEMDEX Turkey on Sept. 3, flat from Aug. 27, while cement clinker (OPC grey clinker) was assessed at $46.25/mt, down 25 cents/mt over the same period.