Votorantim Cimentos’ sales volume rose to 9.8Mt in 2Q21 compared to 7.5Mt in 2Q20, a growth of 31 per cent. Strong sales were recorded on all countries.
Votorantim Cimentos reduces volatility with Spanish acquisition
Votorantim Cimentos reduces volatility with Spanish acquisition Brazilian cement company builds its presence in mature markets with a deal for Cementos Balboa, CFO says
M&AEquityDebtCorporate & Sovereign StrategyBrazilSpain Votorantim Cimentos, the cement business of Brazilian conglomerate Votorantim, has agreed to buy Cementos Balboa in Spain in a deal that will help reduce volatility without affecting debt levels, CFO Osvaldo Ayres told LatinFinance on Wednesday. We are increasing our presence in mature markets, which have a strong currency, Ayres said.
The Brazilian company made the acquisition through its Spanish subsidiary Corporación Noroeste, but it did not say how much it would pay to buy Cementos Balbo