Cemex sells its operations in Guatemala

Monterrey, Mexico. September 10, 2024. – Cemex announced today that it has sold its operations in Guatemala to Holcim Group, for a total consideration of approximately US$200 million. The transaction was signed and closed on Tuesday.

The divested assets mainly consist of one grinding mill, three ready mix plants and five distribution centers. As of December 31, 2023, the grinding mill had an installed capacity of around 0.6M metric tons per year.

“In 2024, we have accelerated the execution of our portfolio rebalancing strategy with the announced sale of more than US$2 billion in assets located primarily in emerging markets,” said Fernando A. González, CEO of Cemex. “We are now primed for the next stage by redeploying most of the divestment proceeds in developed markets, primarily the US. We expect these efforts to drive sustainable growth for our business in the short and medium term.”

The use of divestment proceeds will prioritize aggregates, urbanization solutions, and cement, with a strong focus on lower-carbon and circular economy initiatives, along with other general corporate purposes. This aligns with its growth strategy, which targets bolt-on acquisitions in developed markets. By concentrating on markets where it already operates and offers the most promising growth opportunities, in businesses that fit seamlessly with its current products and customers, Cemex has successfully driven incremental EBITDA over the past year.

Cemex was advised by BofA Securities.

About Cemex

Cemex is a global construction materials company that is building a better future through sustainable products and solutions. Cemex is committed to achieving carbon neutrality through relentless innovation and industry-leading research and development. Cemex is at the forefront of the circular economy in the construction value chain and is pioneering ways to increase the use of waste and residues as alternative raw materials and fuels in its operations with the help of new technologies. Cemex offers cement, ready-mix concrete, aggregates, and urbanization solutions in growing markets around the world, powered by a multinational workforce focused on providing a superior customer experience enabled by digital technologies. For more information, please visit: www.cemex.com