Cemex advances on growth strategy in Europe with new acquisition to bolster the Urbanisation Solutions business.

Cemex has acquired a mortar plant near Madrid, Spain, as part of its ongoing strategy to increase EBITDA through bolt-on acquisitions, focusing on providing more sustainable alternatives to growing urban centres.

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 35 kilometres (22 miles) from Madrid, contributing to reduce the overall Scope 3 emissions related to product transportation. The plant will form part of Cemex’s Urbanisation Solutions business and is expected to reach 100,000 metric tons 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 & 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.”

You can read the full press release here.