CEMEX strengthens aggregates business with Newfoundland acquisition

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Jan 24, 2023, 18:54 ET

HOUSTON, Jan. 24, 2023 /PRNewswire/ -- CEMEX USA ("CEMEX") announced today that it has signed a definitive agreement for the purchase of the assets of Atlantic Minerals Limited in Newfoundland, Canada, consisting of a construction and chemical aggregates quarry and port operations as part of the company's growth strategy.

With this investment, CEMEX secures a new long-term aggregates reserve for our extensive Florida operations and the Eastern Coast of the U.S., as well as a source for chemical grade stone serving a wide geographic footprint.

"This acquisition significantly grows our aggregates business with high-quality materials and bolsters our supply chain to better serve the aggregate-constrained Florida market and grow our U.S. customer base," said CEMEX USA President, Jaime Muguiro. "We will be able to further capitalize on growing infrastructure and private sector demand in Florida and elsewhere."

The closing of this transaction is subject to the satisfaction of certain conditions, including consent from government agencies. We expect to finalize this acquisition at the end of the first quarter of 2023 or soon thereafter.

About CEMEX USA

CEMEX is a global building materials company that provides high-quality products and reliable services with a rich history of improving the wellbeing of those it serves through innovative building solutions, efficiency advancements and sustainability efforts. Its U.S. network includes 10 cement plants, close to 50 strategically located cement terminals, nearly 50 aggregate quarries and more than 280 ready-mix concrete plants. CEMEX USA has been repeatedly recognized for its efforts in sustainability and energy management, including earning U.S. EPA ENERGY STAR^® Partner of the Year in 2019, 2020, 2021 and 2022.

This press release contains forward-looking statements and information that are necessarily subject to risks, uncertainties, and assumptions. Many factors could cause the actual results, performance, or achievements of CEMEX or the transaction herein described to be materially different from those expressed or implied in this release, including not satisfying all closing conditions. Should one or more of these risks or uncertainties materialize, or should underlying assumptions prove incorrect, actual results may vary materially from those described herein. CEMEX assumes no obligation to update or correct the information contained in this press release. CEMEX is not responsible for the content of any third-party website or webpage referenced to or accessible through this press release.

SOURCE CEMEX USA