The cement maker announced on Friday (13) the sale of its subsidiary with operations in the Arab country to German company Heidelberg Materials.
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Brazilian multinational firm sold its assets in the Arab country to China’s Sinoma Cement. The value of the deal was not disclosed. Votorantim reports that the divestment aims at optimizing the risk management of its portfolio.
The country reached self-sufficiency in production and now has a surplus to sell abroad. The goal is earning USD 400 million from exports by 2021.