Cemex is strengthening its aggregate supply in Europe by purchasing two quarries near Madrid as part of its 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 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 an incremental EBITDA contribution of US$46mn from growth investments and Urbanisation Solutions.
