CEMEX B de C : announces production expansion plan in Jamaica

CEMEX announces production expansion plan in Jamaica

August 24, 2022

• CEMEX CEO, Fernando A. Gonzalez, announced the expansion plan at an event alongside Jamaica Prime Minister, Mon. Hon. Andrew Holness.
• This expansion plan aims to increase the cement production capacity at CEMEX's Jamaica cement plant by up to 30%.
• A first phase of this expansion should be completed during 2024, with an investment of approximately US$40 million.
• The event included the unveiling of a mural in the plant which commemorates the 60th anniversary of Jamaica's independence.

CEMEX, S.A.B. de C.V. ("CEMEX") announced today the plan to expand the production capacity at its subsidiary in Jamaica, Caribbean Cement Company Limited ("CCCL"). This expansion aims for an up to 30% increase CCCL's cement capacity in Jamaica, through an investment of approximately US$40 million for the first phase of the project.

The announcement was made by CEMEX's CEO, Fernando A. Gonzalez, during his visit to Jamaica, jointly with the Prime Minister of Jamaica Mon. Hon. Andrew Holness, relevant officials of the Jamaica Government, and key representatives from the company.

"We are in the final stages of the engineering phase and in obtaining permits from the local authorities," said Fernando A. Gonzalez. "Very soon we will begin to procure the equipment needed for this initial phase of the project, designed to not only expand our capacity, but also allow us to optimize our heat consumption in the manufacturing process, and therefore, reduce the carbon footprint of our cement facility in Jamaica."

This expansion plan should be completed by the second half of 2024, and it is expected to strengthen the self-sufficiency of the national cement industry, while setting the basis to export and reinforce CCCL's ability to serve the growing construction sector in Jamaica and the Caribbean.

During the same event, the Minister of Culture, Gender, Entertainment, and Sport Hon, Olivia Grange; the Mexican Ambassador, his Excellency Juan José Gonzalez Mijares; and CEMEX's CEO also unveiled a mural that commemorates the 60th anniversary of the independence of Jamaica.

Titled "Reignited for Unity", the mural measures 49 ft tall by 167 ft wide and commemorate the 60th anniversary of Jamaica's independence. It depicts a jaguar man presenting his heart to a beautiful singing Jamaican female. The jaguar man is a representation of Mexican aesthetic culture, while the singing woman represents the beauty and spirit of Jamaica's people and music.

The mural is part of an initiative developed by Minister Grange named "Jamaica Creative: Paint Up Yuh Creative Space", where the Ministry aims to use art as a focal point to attract visitors to communities within the city, create satellite enterprises for community tourism projects, and beautify and rejuvenate the capital city. The mural was painted by Mexican artists Irving Cano and Freddie Herrera and Jamaican artists Anthony Smith, Yanque Yip, and Jordan Harrison.

"This project has certainly gifted to Jamaica, Mexico, and the region an amazing example of the genius of our creatives and demonstrates just how powerful the cultural expressions of our two nations have been," said Minister Grange at the unveiling.

With these projects and initiatives, CEMEX confirms its commitment to continue contributing to build a greater Jamaica, betting on the growth opportunities of the construction sector in the country by developing relevant projects such as this expansion plan.

From left to right: CEMEX CEO, Fernando A. Gonzalez. Jamaica Prime Minister, Andrew Holness. Minister of Industry, Investment and Commerce, Senator Aubyn Hill. Chairman of Caribbean Cement Company Limited, Parris Lyew-Ayee.From left to right: Ambassador from Mexico to Jamaica, Juan Jose Gonzalez Mijares. Jamaica Prime Minister, Andrew Holness. Wife of the Prime Minister and Member of Parliament, Juliet Holness. CEMEX CEO, Fernando A. Gonzalez. Minister of Culture, Gender, Entertainment and Sport, Olivia Grange.The mural "Reignited for Unity" was unveiled to commemorate the 60th anniversary of the independence of Jamaica.

About CEMEX
CEMEX (NYSE: CX) 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 use 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: cemex.com

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This press release contains forward-looking statements within the meaning of the U.S. federal securities laws. CEMEX intends these forward-looking statements to be covered by the safe harbor provisions for forward-looking statements in the U.S. federal securities laws. These forward-looking statements reflect CEMEX's current expectations and projections about future events based on CEMEX's knowledge of present facts and circumstances and assumptions about future events, as well as CEMEX's current plans based on such facts and circumstances. These statements necessarily involve risks and uncertainties that could cause actual results to differ materially from CEMEX's expectations, including the announced expansion to not be completed or for expansion plan to not produce the expected results. These factors may be revised or supplemented, but CEMEX is not under, and expressly disclaims, any obligation to update or correct this press release or any forward-looking statement contained herein, whether as a result of new information, future events or otherwise. Any or all of CEMEX's forward-looking statements may turn out to be inaccurate. Accordingly, undue reliance on forward-looking statements should not be placed, as such forward-looking statements speak only as of the dates on which they are made. The content of this press release is for informational purposes only, and you should not construe any such information or other material as legal, tax, investment, financial, or other advice.

CONTACT INFORMATION
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