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News Votorantim and Molins join forces in new firm Yacuces

Votorantim and Molins join forces in new firm Yacuces

Written by Global Cement staff 06 August 2014
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South America: Brazilian conglomerate Votorantim has teamed up with Spanish company Cementos Molins to expand their cement businesses in Latin America through newly formed cement company Yacuces.

Votorantim will have a 51% stake in the joint venture. The agreement involves the purchase of 66.7% of Bolivian cement company Itacamba for US$18.6m by Yacuces.

According to a statement filed with Spain's capital markets regulating commission CNVM, Itacamba has plans to invest around US$220m in the next two years to build a cement factory. Votorantim and Molins already have business partnerships in Argentina and Uruguay through cement companies Cementos Avellaneda and Cementos Artigas.

Published in Global Cement News
Tagged under
  • Brazil
  • Votorantim Cimentos
  • Cementos Molins
  • Spain
  • Acquisition
  • GCW162
  • Itacamba

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