Cemex expanded its Southeast footprint by increasing its ownership to a majority stake in Couch Aggregates, strengthening a partnership first announced in July 2024.
The company made the announcement alongside a divsestiture, detailing the sale of its Panama operations to Grupo Estrella for $200 million. Cemex expects the increased stake in Couch Aggregates to help offset the loss of EBITDA from the Panama divestiture.
A portion of the proceeds from the Panama sale were allocated to the Couch Aggregates transaction, Cemex says.
“These transactions are important building blocks in our strategy to rebalance our portfolio and continue investing in growth in priority markets – particularly aggregates in the U.S.,” says Jaime Muguiro, CEO of Cemex.
Couch Aggregates operates seven sand and gravel pits and five marine terminals.
