Company acquires two new quarries to provide better and faster service to growing metropolis
CEMEX are strengthening their aggregates supply in Europe with the purchase of two quarries near Madrid as part of their strategic bolt-on acquisition strategy.
Madrid and its surrounding areas are currently undergoing major urban expansion, and through this acquisition, Cemex will be 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.
The acquisitions also 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 and 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 wave of renovation in the city.
Cemex’s growth strategy, introduced in 2020, focuses on bolt-on and margin enhancement investments across the company’s four core businesses, mainly in developed markets.
In their second-quarter 2023 report, Cemex disclosed incremental EBITDA contribution of US$46 million from growth investments and Urbanization Solutions.