CEMEX strengthen footprint in Spain
Company to acquire complementary assets in the regions of Madrid and the Balearic Islands
CEMEX have signed an agreement with HeidelbergCement to expand their presence in the regions of Madrid and the Balearic Islands. The investment is accretive and is part of the company’s strategy to enhance its vertically integrated positions in high-growth urban centres 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, as well as three concrete plants that will enhance CEMEX’s 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 Balearic 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 expect to finalize the transaction during the first half of 2022.
HeidelbergCement, who are also selling their regional aggregates and ready-mixed concrete businesses in the regions of Catalonia and Asturias, say the divestment of these assets in Spain is part of the portfolio optimization and margin improvement programme within their ‘Beyond 2020’ strategy.
All companies acquiring assets through these transactions have agreed not to disclose the purchase price.
HeidelbergCement, who have been operational in Spain since 2007, will continue to supply customers in the remaining Spanish regions with products from all three business lines – cement, aggregates, and ready-mixed concrete.