CEMEX strengthens footprint in key metropolitan areas in Spain - CEMEX strengthens footprint in key metropolitan areas in Spain
October 4, 2021
- Company to acquire complementary assets in the regions of Madrid and the Balearic Islands.
- Investment underscores the company's growth strategy as part of its Operation Resilience program.
CEMEX, S.A.B. de C.V. (“CEMEX”) (NYSE: CX) announced today that, as part of its growth strategy, it signed an agreement to expand its presence in the regions of Madrid and the Balearic Islands. This investment is accretive and is part of the company's strategy to enhance its vertically integrated positions in high-growth urban centers worldwide.
The assets to be acquired by CEMEX from HeidelbergCement include a limestone quarry with a waste management operation strategically positioned to serve the Madrid metropolitan area and 3 concrete plants that will enhance its vertical integration in the Balearic Islands.
"This acquisition will allow us to better serve our customers by integrating and complementing our portfolio to provide a comprehensive and sustainable offering in the high-growth regions of Madrid and the Balearics Islands," said Sergio Menendez, President of CEMEX Europe, Middle East, Africa & Asia. "This is another example of the efforts that we are taking to optimize our portfolio and foster EBITDA growth by investing in accretive, bolt-on acquisitions."
Subject to customary closing conditions, CEMEX currently expects to finalize this transaction during the first half of 2022.
CEMEX 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 use 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: cemex.com
CEMEX assumes no obligation to update or correct the information contained in this press release. This press release contains forward-looking statements within the meaning of the U.S. federal securities laws. CEMEX intends these forward-looking statements to be covered by the safe harbor provisions for forward-looking statements in the U.S. federal securities laws. These forward-looking statements reflect CEMEX’s current expectations and projections about future events based on CEMEX’s knowledge of present facts and circumstances and assumptions about future events, as well as CEMEX’s current plans based on such facts and circumstances. These statements necessarily involve risks and uncertainties that could cause actual results to differ materially from CEMEX’s expectations reflected herein. The content of this press release is for informational purposes only, and you should not construe any such information or other material as legal, tax, investment, financial, or other advice.
Analyst and Investor Relations
Alfredo Garza / Fabián Orta