Votorantim Cimentos, through its Spanish subsidiary Corporación Noroeste, has announced that it has completed the acquisition of Cementos Balboa.
Cementos Balboa has a modern integrated cement plant located in Alconera, in the province of Badajoz (in the Extremadura region, Southwest of Spain), with an installed production capacity of 1.6 million tpy of cement. With this cement plant, Votorantim Cimentos complements its current operations in Spain, and expects to increase its operational efficiencies, accelerate its decarbonisation roadmap and enhance its distribution network.
“The acquisition of Cementos Balboa is part of our growth and positioning strategy in Spain, and it will significantly strengthen our current presence in the Iberian market”, said Marcelo Castelli, Global CEO of Votorantim Cimentos.
This is the largest investment made in Spain since the company entered in 2012. With the closing of the transaction, the company will operate five integrated cement plants, two cement mills, one mortar plant and several concrete and aggregates plants, located in the regions of Andalusia, Canary Islands, Castille and León, Extremadura and Galicia.