Danica Pension, one of Denmark’s largest pension providers, has entered into an agreement about the investment of a three-figure million DKK amount in Cembrit, Europe’s second-largest fibre cement manufacturer.

During the financial crisis, Cembrit, which manufactures fibre cement for roofs and facades, has gained market shares from competing products and built a strong market position with sales across Europe. It is precisely this positive development and growth opportunity which have made the business interesting to Danica Pension.

The investment consists of a corporate bond loan and is part of Danica Pension’s plan to generate better returns in the current low-interest market as the investments are more long-term.

Cembrit was established in 1927 and was previously part of FLSmidt. Today, Cembrit is owned by the Swedish investment company Solix. Cembrit is one of Europe’s leading businesses within the manufacturing and sale of building material. Its main products are fibre cement solutions for roofs and facades.

Danica Pension is one of Denmark’s largest pension providers. Danica has approx. 600,000 customers and has specialised in pension schemes, life insurance and health insurance. Its total pension assets were DKK 358 billion with annual payments of approx. DKK 27 billion.

Bruun & Hjejle acted as legal adviser to Danica Pension.