Cimpor said in a regulatory filing late Monday that it acquired six cement plants and a set of quarries in Spain, for a total investment of about EUR80m
The acquisitions "substantially reinforce the important position it already holds in the Spanish market of concrete and aggregates," Cimpor said in the statement.
Cimpor said it acquired three ready-mix concrete plants, two in the region of Seville and one in Huelva, as well as Spanish company Arenor Hormigones, which owns another three plants in Seville for a total of EUR15.5 million.
The just-acquired six cements plants will allow Cimpor to boost its production capacity by around 400,000 cubic meters per year.
Cimpor said it also bought a 75% stake in Arenor Aridos, which explores a set of quarries with a production capacity of nearly 2.5 million tons per year. Cimpor has an option to buy the remaining 25% for EUR8.15 million over the next three years.