Global building materials company Cemex has signed a definitive agreement for the purchase of the assets of Canadian company Atlantic Minerals, as part of the company’s growth strategy.
Atlantic Minerals is a producer of high calcium limestone, dolomite and construction aggregates. Based in Newfoundland, Canada, Atlantic Minerals’ assets consist of a construction and chemical aggregates quarry and port operations
With this investment, Cemex secures a new long-term aggregates reserve for its Florida operations and the Eastern Coast of the US, 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 US president, Jaime Muguiro. “We will be able to further capitalise 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 finalise this acquisition at the end of the first quarter of 2023, or soon thereafter.
Cemex is a global building materials company. Its US network includes 10 cement plants, close to 50 cement terminals, nearly 50 aggregate quarries and more than 280 ready-mix concrete plants.