CEMEX buys 51% share of Israeli recycling company

CEMEX has announced  that it has acquired a 51 per cent stake in Israel-based SHTANG Recycle LTD, a construction, demolition, and excavation waste (CDEW) recycling company. The acquisition aligns with CEMEX’s strategy to strengthen its business in developed markets through bolt-on acquisitions in businesses with strong circular and sustainable attributes.

The acquisition will form part of Regenera, CEMEX’s recently-launched business that provides circularity solutions, including reception, management, recycling, and coprocessing of waste. SHTANG has been awarded a 13-year licence to build and operate a CDEW recycling facility. The enclosed, state-of-the-art facility will be capable of processing approximately 600,000tpa of waste. The CDEW will be used by Regenera as raw materials for aggregate production, reintegrating them into the construction value chain.

Fernando A González, CEO of CEMEX said: "Through smart CDEW management, we can reduce waste generation and produce building materials with more sustainable attributes."