Cemex bolsters aggregates reserves in Madrid by acquiring two new quarries

Cemex bolsters aggregates reserves in Madrid by acquiring two new quarries

August 30, 2023
Monterrey, Mexico. August 30, 2023 – Cemex is strengthening its aggregates supply in Europe with the purchase of two quarries near Madrid as part of its strategic bolt-on acquisition strategy. Madrid and its surrounding areas are currently undergoing major urban expansion. Through this acquisition, Cemex is better positioned to serve customers in the area, particularly for infrastructure projects.

The deal strengthens Cemex’s limestone reserves and includes all necessary elements for Cemex to provide better and faster service to the growing metropolis. These acquisitions reiterate Cemex’s commitment to promoting a circular economy by integrating a waste management facility owned and managed by a third party that will seek partnership opportunities with Regenera, Cemex’s circular waste management business.

“These acquisitions strengthen our existing network and enable us to better serve a growing market with high-quality, sustainable, and circular products,” said Sergio Menéndez, President of Cemex Europe, Middle East, Africa & Asia. “We are excited to be part of Madrid’s growth, which contributes to improving the quality of life of its residents and setting an example for more sustainable and circular cities.”

Earlier in 2023, Cemex acquired a mortar plant near Madrid that is intended to serve the ongoing renovation wave in the city. 

Cemex’s growth strategy, introduced in 2020, focuses on bolt-on and margin enhancement investments across its four core businesses, mainly in developed markets. In its second quarter 2023 report, Cemex disclosed incremental EBITDA contribution of US$46 million from growth investments and Urbanization Solutions. 


About Cemex 

Cemex (NYSE: CX) is a global construction materials company that is building a better future through sustainable products and solutions. Cemex is committed to achieving carbon neutrality through relentless innovation and industry-leading research and development. Cemex is at the forefront of the circular economy in the construction value chain and is pioneering ways to increase the use of waste and residues as alternative raw materials and fuels in its operations with the help of new technologies. Cemex offers cement, ready-mix concrete, aggregates, and urbanization solutions in growing markets around the world, powered by a multinational workforce focused on providing a superior customer experience enabled by digital technologies. For more information, please visit: www.cemex.com