CEMEX USA announced 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 its extensive Florida operations and the Eastern Coast of the United States, 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. CEMEX expects to finalize this acquisition at the end of the first quarter of 2023 or soon thereafter.