CEMEX has agreed to acquire Canada-based Atlantic Minerals Ltd, including a construction and chemical aggregates quarry and port operations. With this investment, CEMEX has secured a new long-term aggregates reserve for its extensive Florida operations and the US east coast, as well as a source of chemical-grade stone serving a broader geographic footprint, according to the company. The acquisition is expected to increase CEMEX’s aggregates reserves for the US market by approximately 20 per cent.
“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 US customer base,” said CEMEX USA President, Jaime Muguiro. “We will be able to further capitalise on growing infrastructure and private sector demand in Florida and elsewhere.”
The transaction, which is subject to the satisfaction of certain conditions, including consent from government agencies, is expected to be finalised at the end of the 1Q23 or soon after.
