Brazilian cement giant Votorantim Cimentos has announced the sale of its entire Tunisian operations to Sinoma Cement Co., Ltd., a Chinese construction materials company.
The deal, subject to regulatory approval in China, Tunisia, and the Common Market for Eastern and Southern Africa (Comesa), marks Votorantim Cimentos' exit from the Tunisian market. The company has stated that the sale aligns with its strategy of maximizing shareholder value and balancing its geographic presence between mature and emerging markets, while optimising risk management for its consolidated portfolio.
While the financial terms of the transaction remain confidential, the sale includes all Votorantim Cimentos' factories and offices in Tunisia. The company assures that normal operations will continue during the transaction process, ensuring a seamless transition for both employees and customers.
Votorantim Cimentos' decision to divest from Tunisia comes as part of a broader strategic shift within the company. This shift is focused on streamlining its global operations and concentrating resources in markets with higher growth potential and lower risk profiles.
About Votorantim Cimentos
Votorantim Cimentos is a leading global cement producer with a strong presence in South America, Europe, and Africa. The company is known for its commitment to sustainability and its focus on innovative solutions in the construction industry.
About Sinoma Cement Co., Ltd.
Sinoma Cement Co., Ltd. is a major Chinese construction materials company with a global reach. The company is a leading producer of cement, clinker, and other construction materials. Sinoma's acquisition of Votorantim Cimentos' Tunisian assets is expected to strengthen its position in the North African market.
The sale of Votorantim Cimentos' Tunisian assets represents a significant development in the global cement industry. It highlights the growing influence of Chinese companies in the sector and the ongoing consolidation of the global cement market.
