The idea of being able to import cement from El Aaiun to Gran Canaria, as is already the case with ice for fishing, even with the European AIEM tariff, to cater to tourism and offer better prices in tenders, is gaining momentum.
While awaiting the release of the general state budget to determine the requirements for the trains in Tenerife and Gran Canaria, the Brazilian giant Votorantim, owner of the cement plant in Santa Águeda (south of Gran Canaria), has closed the sale of its subsidiary in Morocco to a German company, a move that is part of a strategy to concentrate and optimize its international presence.
The Moroccan subsidiary achieved sales of €2024 million in 106,7, modest figures compared to the growth recorded in Spain, where Votorantim's business grew by almost 11% last year, reaching a turnover of €422,8 million.
This divestment follows the sale, also in 2024, of the Tunisian business to China's Sinoma Cement. The Tunisian transaction officially closed at the end of March this year after receiving regulatory approvals in China, Tunisia, and the African regional body Comesa. The Tunisian business contributed EBITDA of €26,4 million to the group.
From its European headquarters in Vigo, Votorantim Cimentos EAA Inversiones SL, the holding company that controls the group's business in Spain, Morocco, Tunisia, and Turkey, has experienced significant growth in its Spanish operations. EBITDA contributed from Spain increased from €116 million to almost €157 million in 2024.
The Vigo-based company's consolidated net profit fell from €223 million to €160 million, reflecting the impact of international divestments and market volatility.
Votorantim, the heir to historic cement companies such as Cosmos, Corporación Noroeste, and Prebetong, maintains its operations base for Europe and North Africa from Vigo. The ultimate parent company is the Brazilian company Hejoassu Administração SA, while the direct parent company is Votorantim Cimentos Internacional in Luxembourg.
In Spain, under the group's umbrella and based in Vigo, there are strategic subsidiaries such as Votorantim Cementos España, Ceisa, Comercial Cosmos Sur, Prebetong Lugo, and Morteros de Galicia, among others.
This move reflects a clear focus on consolidating and strengthening its business in Spain, especially in a context of sector recovery with improvements in volume and prices in the local market.
