Parties
Company
CEMEX Inc.
Company
Atlantic Minerals Limited
On January 24, 2023, CEMEX USA ("CEMEX") revealed a definitive agreement to acquire the assets of Atlantic Minerals Limited in Newfoundland, Canada. The assets include a construction and chemical aggregates quarry and port operations. This move aligns with CEMEX's growth strategy and offers a new long-term aggregate reserve for their vast Florida operations and the U.S. Eastern Coast. It also provides a source for chemical grade stone serving an expansive geographic area. Jaime Muguiro, CEMEX USA President, emphasized that this acquisition would strengthen their aggregates business, enhance their supply chain for the Florida market, and expand their U.S. customer base, positioning the company to better meet infrastructure and private sector demands. The deal's completion depends on certain conditions, such as government agency approval, and is expected by the end of Q1 2023. CEMEX is a renowned global building materials firm with a vast U.S. network that includes 10 cement plants, around 50 cement terminals, close to 50 aggregate quarries, and over 280 ready-mix concrete plants. It has earned the U.S. EPA ENERGY STAR® Partner of the Year accolades in 2019, 2020, 2021, and 2022.
Deal Type
Merger & AcquisitionIndustry
OtherTransaction
$ 102,324,075Deal Status
ActiveClosing Date