The Mexican consortium cemexone of the largest cement producers in the world, announced this Wednesday the acquisition of Kiesel, a mortar and adhesives company based in Germany, to strengthen its cement business. “urban solutions”.
“We remain committed to increasing our capacity to serve growing urban markets with more sustainable and innovative solutions”Sergio Menéndez, president of Cemex Europe, Middle East, Africa and Asia, said in a statement.
The company did not detail the amount of the operation, which is still subject to the fulfillment of conditions, such as the consent of government agencies, so it expects to conclude this transaction at the end of the fourth quarter of 2023 or “shortly after”.
Kiesel, according to the newsletter, is a construction solutions provider with more than 60 years of experience in Germany, France, Poland and the Czech Republic.
His portfolio includes “a range of solutions to ensure efficient installation of all types of flooring or wall coverings, as well as mortars for the installation of ceramics and natural stone mosaics.”
Mortars, explained the Mexican cement company, are construction materials that use cement to join bricks, concrete blocks and to install materials such as mosaics and ceramics, which is why they are essential for construction projects.
“This acquisition will strengthen our urban solutions business and allow us to better serve our clients,” Menendez added.
Cemex stated that its acquisition strategy and its urban solutions business have been “solid engines” dand growth for the company.
In the second quarter of the year, the cement company reported an operating flow growth of 26% in its urban solutions business and an incremental contribution to operating flow of US$ 46 million from growth investments and urban solutions.
In total, Cemex recorded a global net profit or profit of US$ 497 million in the first half of 2023, an increase of 7% compared to $463 million in the same period of 2022.
Source: Gestion
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