Votorantim Cimentos, through its Spanish subsidiary Corporación Noroeste, has announced that it has entered into an agreement for the full acquisition of Cementos Balboa in Spain. Cementos Balboa has a modern integrated cement plant located in Alconera, in the province of Badajoz (in the Extremadura region, Southwest Spain), with an installed production capacity of 1.6 million t of cement per year.
Votorantim Cimentos is an international company that operates in the segments of building materials, mining, agricultural inputs, co-processing and waste management. With 256 industrial sites worldwide, the company’s installed production capacity was 53 million t of cement at the end of 2020. The company has been in Spain since 2012 and currently operates four 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.
The transaction remains subject to customary closing conditions, including the approval by regulatory author-ities in Spain. The two companies will continue to operate as separate businesses pending the closing of the transaction.
In April, Votorantim Cimentos and the long-term institutional investor Caisse de dépot et placement du Québec (CDPQ) announced the conclusion of the transaction to combine their cement operations in North America. This transaction will significantly strengthen the company’s position in Canada and the United States.