The move follows HeidelbergCement's recent announcement of the sale of its regional businesses in Catalonia, Madrid, Asturias and on the Balearic Islands.
The sale to Votorantim Cimentos includes the integrated cement plant in Malaga, three aggregate sites, and 11 ready-mixed concrete sites in Andalusia. Details of the purchase price are not being disclosed.
HeidelbergCement says that divesting these assets in Spain is part of its portfolio optimisation and margin improvement programme within the company's ‘Beyond 2020’ strategy. In Spain, the company adds that it will now fully focus on its Northern cluster located in the Basque country.
The comapny said in a statement: "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."
The transaction is subject to some conditions precedent before final closing which is expected for the second half of 2022.