Huaxin Cement has announced a transaction of US$186.6m to acquire four aggregate quarries in Brazil. The acquisition is an important step in the implementation of the company’s strategy of geographic and business line diversification. It represents a further expansion of the company in emerging markets. For Huaxin Cement, the deal represents a milestone in developing in the building materials market in South America, as it is the first entry by the company, and by any major Chinese cement producer, into the Brazilian building materials market.
The target company has four quarries with a total capacity of 8.8Mta of aggregates (6.2Mt of aggregate production in 2023) and has significant resources of mineable material. The four quarries are well located in terms of the company's target market in the metropolitan area of São Paulo.
Today, Huaxin owns and operates more than 20 large-scale cement and related factories in 12 countries in central Asia, southeast Asia, south Asia, the Middle East and Africa.
