Ciments du Maroc announced the signing of a strategic agreement for the acquisition of Asment de Témara. The step will enable Ciments du Maroc, part of Heidelberg Materials, to consolidate its national coverage and its sales of sustainable materials and solutions. It will expand its operations in northern Morocco in particular.
The acquisition will include 62.62 per cent of Asment de Témara’s capital as well as 99.99 per cent of the capital of Grabemaro, a producer of aggregates, currently controlled by Votorantim Cimentos. The operations include a 1.4Mta cement plant, two aggregates sites and eight ready-mix concrete plants.
“Our latest investment marks an important step as part of our ongoing portfolio optimisation to strengthen our core markets,” said Dr Dominik von Achten, chairman of the Managing Board of Heidelberg Materials. “Expanding our presence in the attractive Moroccan market while increasing our use of alternative fuels will generate substantial financial synergies and thus help us accelerate our ambitious decarbonisation efforts throughout our sites in the country and grow our local offering of sustainable solutions.”
It is expected that the acquisition will enable Ciments du Maroc to increase the alternative fuel rate at the cement plant to 70 per cent by 2027.
Votorantim Cimentos said that the transaction aligns with its portfolio management strategy, maximising value and balancing its geographical positioning between mature and emerging markets. Votorantim Cimentos will continue to operate its assets in Morocco as normal until the transaction is complete. The deal is still subject to Moroccan antitrust authorities’ approval. Similarly, in July, Votorantim Cimentos also signed an agreement for the full sale of its assets located in Tunisia to Sinoma Cement Co Ltd, the cement-based building materials enterprise headquartered in China.
The transaction is subject to regulatory approval by Moroccan competition authorities. Both parties have agreed not to disclose the financial terms of the transaction.
