Votorantim Cimentos to acquire Southern Spain business from HeidelbergCement.

Votorantim Cimentos, a cement company, agreed to acquire Southern Spain business from HeidelbergCement, a German multinational building materials company. Financial terms were not disclosed. Divesting these assets in Spain is part of the portfolio optimisation and margin improvement programme 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.