Cemex USA purchased the assets of Atlantic Minerals Limited in Newfoundland, Canada, as part of the company’s growth strategy.
Atlantic Minerals consists of a construction and chemical aggregates quarry and port operations.
Cemex says this investment secures a new long-term aggregate reserve for its Florida operations and the East Coast of the U.S., 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,” says Jaime Muguiro, Cemex USA president. “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 says it expects to finalize this acquisition at the end of the first quarter of 2023 or soon thereafter.
