Cemex announced today that an agreement has been signed for the sale of its operations in the Dominican Republic, for a total consideration of approximately US$950 million. The transaction includes export businesses to Haiti. The agreement has been signed between a Spanish subsidiary of Cemex, as seller, and Cementos Progreso Holdings, S.L., through a subsidiary,...
Cemex and the Mission Possible Partnership (MPP), in partnership with the Bezos Earth Fund, are collaborating to conduct an analysis of the potential of decarbonization levers at Cemex’s Balcones cement plant in Texas. This analysis aims to accelerate Cemex’s commitment to achieving net-zero CO2 emissions by 2050. There are various technological pathways to decarbonize the...
Cemex expects to accelerate growth in the US, lead profitable decarbonization in Europe, leverage leading position in Mexico, and scale its fast-growing Urbanization Solutions business. Strong free cash flow, consistent results, and Investment Grade rating should enable increased flexibility in capital allocation. New target to further improve leverage ratio1 by half a turn. Cemex intends...
Rating agency Standard & Poor’s (S&P) announced today that it has upgraded Cemex’s long-term global scale issuer credit rating to Investment Grade (BBB-) due to its strong financial and operating performance, deleveraging strategy, and flexible capital allocation. “Achieving an investment-grade credit rating from S&P is a very important milestone for Cemex,” said Fernando A. González,...
Fernando A. González, CEO of Cemex, has been elected as the new President of the Global Cement and Concrete Association (GCCA). The GCCA’s members account for 80% of global cement production capacity outside of China and have committed to achieving Net Zero CO2 emissions by 2050. Mr. González, who has served as GCCA Vice-President since...
Cemex is the first company in its industry to provide environmental impact information, including CO2 emissions, for its core products in all of the main markets in which it participates around the world. This disclosure is customized by location and is critical for architects, engineers, contractors, and customers looking to develop more sustainable construction....