CEMEX acquires mortar plant in Spain

CEMEX has acquired a mortar plant near Madrid, Spain, as part of its ongoing strategy to increase EBITDA through bolt-on acquisitions. The new plant is equipped with the latest technology to enable the production of traditional and specialty mortars with enhanced sustainability attributes. CEMEX’s nearby Castillejo cement plant will supply lower-carbon Vertua cement for mortar production.

The mortar plant is located only 35km from Madrid, contributing to reducing overall Scope 3 emissions related to product transportation. The plant will form part of Cemex’s Urbanization Solutions business and is expected to reach 100,000t of production at full capacity.

“A cornerstone of our growth plan is using strategic bolt-on acquisitions to increase our capacity to serve growing urban markets with more sustainable and innovative products,” said Sergio Menéndez, president of CEMEX Europe, Middle East, Africa and Asia. “This new plant will bring us closer to our customers in the expanding Madrid market, providing them with innovative building solutions for more sustainable construction.”

CEMEX’s bolt-on acquisition strategy and its Urbanization Solutions business have been strong growth drivers for the company, according to CEMEX. For the first quarter of 2023, the company reported EBITDA growth of 34 per cent in its Urbanization Solutions business, and an incremental EBITDA contribution of US$40m from growth investments and Urbanization Solutions.