After having announced to sell regional businesses in Catalonia, Madrid, Asturias and on the Balearic Islands, HeidelbergCement now signed a contract to sell its Southern Spain business to Votorantim Cimentos. The sale includes the integrated cement plant in Malaga with an installed capacity of 1.4 million tons per year, three aggregate sites, and 11 ready-mixed concrete sites in Andalusia. Both companies have agreed not to disclose the purchase price.
Divesting these assets in Spain is part of the portfolio optimization and margin improvement program within HeidelbergCement’s ‘Beyond 2020’ strategy. In Spain, the company will now fully focus on its Northern cluster located in the Basque country. HeidelbergCement will continue to supply customers from its remaining facilities in Northern Spain with products from all three business lines cement, aggregates, and ready-mixed concrete.
"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.
The transaction is subject to some conditions precedent before final closing which is expected for the second half of 2022.
