Le Lézard
Classified in: Environment
Subjects: Corporate Social Responsibility, Merger/Acquisition

CEMEX Invests in Circular Economy in Mexico

CEMEX, S.A.B. de C.V. ("CEMEX") announced the acquisition of Broquers Ambiental ("Broquers"), a sustainable company that focuses on the separation, recovery, and treatment of urban solid waste generated in the city of Queretaro. This acquisition is part of CEMEX's Future in Action program, aimed to achieve carbon neutrality.

"With this acquisition, at CEMEX, we are firmly committed to the circular economy by integrating our value chain to the production of climate-friendly fuels that we use in cement production. Our objective for this year is to double Broquer´s capacity and thereby contribute to the progress towards sustainability in the city of Queretaro, as well as the transformation of Mexico towards a green economy," said Ricardo Naya, President of CEMEX Mexico.

All waste processed at the Broquers plant will be used as a climate-friendly fuel to power CEMEX's operations in Mexico; CEMEX takes advantage of the energy generated from the processed waste to use in its plants. Thanks to this process, CO2 emissions into the atmosphere are reduced by replacing fossil fuels, one of the most significant contributors to global warming.

Last year, CEMEX harnessed the energy of more than 500,000 tons of waste to power its operations in Mexico, avoiding the emission of more than 730,000 tons of CO2 per year or the equivalent of planting 12 million trees.

Broquers expects to increase the current staff by 50 new employees this year to expand its processing capacity.

Broquers was the first plant of its kind in Mexico to have sophisticated waste separation equipment in line with European standards for waste treatment. This results in a fast, highly efficient, and safe industrial process that solves the challenge of Queretaro´s municipal waste in a local, sustainable, and environmentally friendly way.

Broquers will continue to operate ordinarily and comply, as before, with all the conditions stipulated in its concession title for the treatment of urban solid waste in the municipality of Queretaro. Also, the transaction did not represent any legal or financial impact for the city.

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. For more information, please visit: cemex.com

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.

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News published on 28 january 2022 at 14:50 and distributed by: