*Mexican cement giant Cemex has announced a joint venture agreement with US firms Couch Aggregates, a sand and gravel supplier, and marine bulk product distributor Premier Holdings. A Cemex statement notes that the agreement is “part of Cemex’s ongoing strategy to accelerate growth in the US and expand its aggregates business”. According to the statement, which describes Couch Aggregates as “a long-time strategic partner of Cemex US”, since 2020 Cemex has focussed on “rebalancing its portfolio towards the US”, raising its percentage of Ebitda (earnings before interest, taxes, depreciation and amortisation) contribution from 24% to 29%. It adds that the firm intends to raise this number to 40% in the medium term “by increasing the growth capex and investing divestment proceeds to the region”.
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LatinNews Daily - 16 July 2024
In brief: Mexico’s Cemex reveals strategic alliance with US firms
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