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.
