CEMEX, S.A.B. de C.V. ('CEMEX') announced today that it has acquired a 51% stake in Israel-based SHTANG Recycle LTD, a construction, demolition, and excavation waste, (CDEW) recycling company.
The acquisition aligns with CEMEX's strategy to strengthen its business in developed markets through bolt-on acquisitions in businesses with strong circular and sustainable attributes.
The acquisition will form part of Regenera, CEMEX's recently launched business that provides circularity solutions, including reception, management, recycling, and coprocessing of waste. SHTANG has been awarded a 13-year license to build and operate a CDEW recycling facility. The enclosed, state-of-the-art facility will be capable of processing approximately 600,000 tons of waste per year. The CDEW will be used by Regenera as raw materials for aggregate production, reintegrating them into the construction value chain.
'We are committed to continuing making investments that promote a more circular and sustainable construction industry, and strengthen our Urbanization Solutions business,' said Fernando A. Gonzalez, CEO of CEMEX. 'Concrete is an infinitely recyclable material. Through smart CDEW management, we can reduce waste generation and produce building materials with more sustainable attributes.'
CEMEX's Urbanization Solutions business has been a highlight of CEMEX's recent performance. In its third quarter 2022 report, the company announced double-digit growth in both sales and EBITDA for this business. Through Regenera, CEMEX aims to serve a diverse client base which includes industrial, manufacturing, and waste collection companies, NGOs, and governments. Regenera provides sustainable solutions for three major waste streams: municipal and industrial waste, construction, demolition, and excavation waste (CDEW), and industrial byproducts. Regenera is present in CEMEX's four regions: Mexico, the US, Europe the Middle East and Asia, and South-Central America and the Caribbean.
This acquisition supports Future in Action, CEMEX's program to achieve sustainable excellence through climate action, circularity, and natural resource management with the primary objective of becoming a net-zero CO2 company. It is also another example of the success of the company's strategic growth strategy, through which CEMEX is optimizing its portfolio for EBITDA growth with bolt-on investments in its core businesses that leverage sustainability as a competitive advantage.
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.
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. CEMEX is not responsible for the content of any third-party website or webpage referenced to or accessible through this press release.
Contact:
Jorge Perez
Tel: +52 (81) 8259-6666
Email: jorgeluis.perez@cemex.com
CEMEX 
