The acquisition includes all four of Teko’s quarries, Holcim said in a press release.
Teko Mining Serbia sells 2.4 million tonnes of aggregates annually and employs over 150 people across its four quarries. Its estimated net sales will exceed 20 million euro ($20.03 million) in 2022, it added.
“Teko complements our existing cement and concrete operations perfectly, allowing us to add aggregates and asphalt as part of our integrated offer in this highly dynamic market,” Miljan Gutovic, regional head for Europe and Middle East Africa, said in the statement.
Last week, Holcim acquired ready-mix concrete producer General Beton Romania for an undisclosed sum.
Earlier this year, Holcim acquired Heidelberg Cement’s aggregates and ready-mix concrete assets in Athens, and the majority stake in independent ready-mix concrete operations in Sofia and Zagreb.