CEMEX strengthens presence in Guatemala
September 15, 2021
Company to expand capacity with the construction of a new grinding mill.
Investment underscores the company's growth strategy as part of its Operation Resilience program.
New grinding mill will employ state-of-the-art sustainable technology.
With this investment, CEMEX will enhance the offering of low-carbon products and solutions to achieve its CO2 reduction targets.
CEMEX, S.A.B. de C.V. ('CEMEX') (NYSE: CX) announced today that, as part of its growth strategy, it will increase capacity in Guatemala with the construction of a new cement grinding mill that is expected to be completed in early 2023. This investment is accretive and considers the company's climate action program.
The facility will be strategically located in the company's plant in Guatemala. It will rely on modern and efficient processes for cement production and environmental standards. The new grinding mill, which will produce low-carbon cements, will be designed to be one of the most sustainable in the sector and will also be aligned with CEMEX's Future in Action program, aimed to reduce its carbon footprint.
'This investment reinforces CEMEX's commitment to Guatemala's development and reflects our confidence in the favorable outlook of the economy in the country and the region,' said Jesus Gonzalez, President CEMEX South, Central America, and the Caribbean. 'We are excited about expanding our offer of products and solutions to the market which contribute to sustainable construction, like Vertua, our family of net-zero and low carbon products.'
The total value of the investment is approximately US$25 million. Current grinding capacity at the plant is about 0.5 million metric tons of per year. Following the completion of the project, production will increase approximately by 0.4 million metric tons to 0.9 million metric tons per year.
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 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.
This investment is made through CEMEX Latam Holdings, S.A. CEMEX assumes no obligation to update or correct the information contained in this press release. 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. 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.