HeidelbergCement announce further divestment in Spain
Wednesday, November 10, 2021 - 14:11
Company agrees to sell business activities in southern Spain to Votorantim Cimentos
HAVING recently announced the sale of regional businesses in Catalonia, Madrid, Asturias, and on the Balearic Islands, HeidelbergCement have now signed a contract to sell their southern Spain business to Votorantim Cimentos.
The sale includes an integrated cement plant in Malaga, three aggregate sites, and 11 ready-mixed concrete sites in Andalusia. Both companies have agreed not to disclose the purchase price.
HeidelbergCement say divesting these latest assets is part of the portfolio optimization and margin improvement programme within their ‘Beyond 2020’ strategy, and they will now fully focus on their northern cluster located in the Basque country.
The company will continue to supply customers with products from all three business lines – cement, aggregates, and ready-mixed concrete – from its remaining facilities in northern Spain.
Subject to certain conditions, the transaction is expected close in the second half of 2022.