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)