Votorantim Cimentos has announced that it has signed an agreement with HeidelbergCement to acquire all its business in the South of Spain, which includes a modern integrated cement plant, three aggregates quarries and eleven ready-mix plants in Andalusia region. The cement plant is located in Málaga (Andalusia) with an installed production capacity of 1.4 million tons of cement per year.
“With this transaction, Votorantim Cimentos strengthens its business in Spain and creates significant synergies with its existing assets. This deal is fully aligned with our strategy and will allow us to reinforce our presence in the Iberian Peninsula, following recent acquisition of Cementos Balboa”, said Marcelo Castelli, Global CEO of Votorantim Cimentos.
Votorantim Cimentos is an international company that operates in the segments of building materials, mining, agricultural inputs, co-processing and waste management. The company has been operating in Spain since 2012. In June, it announced the acquisition of the integrated cement plant of Cementos Balboa in the Southwest of Spain. The company currently has five integrated cement plants, two grinding stations, one mortar plant and several concrete and aggregates plants, located in the regions of Andalusia, Canary Islands, Castile and León, Extremadura and Galicia.
The transaction remains subject to customary closing conditions, including the approval by regulatory authorities in Spain. The two companies will continue to operate as separate businesses pending the closing of the transaction.
Read the article online at: https://www.worldcement.com/europe-cis/11112021/votorantim-cimentos-to-acquire-the-south-cluster-of-heidelbergcement-in-spain/