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Cemex SAB de CV (CX) is a global leader in building materials, providing essential cement, ready-mix concrete, and aggregates for infrastructure projects across 50+ countries. This dedicated news hub offers investors and industry professionals centralized access to official updates shaping the construction sector.
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On March 21, 2023, Vulcan Materials Company (NYSE: VMC) reported that CEMEX (NYSE: CX), with armed police and military, forcibly occupied its port facilities in Playa del Carmen, Mexico, without legal authorization. The prior lease agreement expired on December 31, 2022, with Vulcan open to negotiations for a new contract. CEMEX is reportedly ignoring a federal court order mandating their vacate of the property, while the Mexican government unlawfully disrupts Vulcan's quarrying and shipping operations. Vulcan asserts ownership of the facilities and has not authorized CEMEX's use of their property.
Vulcan Materials Company (NYSE: VMC) reported that CEMEX (NYSE: CX) forcibly occupied its port facilities in Playa del Carmen, Mexico, as of March 14, 2023. CEMEX's previous lease agreement with Vulcan expired on December 31, 2022, and there is no current contract allowing CEMEX's use of the property. Vulcan has been open to renegotiations, but CEMEX resorted to threats involving the Mexican military and police instead. A Mexican federal court has ordered CEMEX to vacate the property, yet operations remain halted. Vulcan asserts legal ownership of the properties, including the port concession.
Cemex has a longstanding agreement with Calica, a subsidiary of Vulcan Materials, to utilize a marine terminal in Playa del Carmen for cement transport. However, since late 2022, Cemex faced access issues to the terminal. Following unsuccessful negotiations, Cemex filed a lawsuit that resulted in a local court granting injunctive relief for access to the terminal. Despite Calica's non-compliance, Cemex secured further legal relief from Quintana Roo’s authorities. On March 14, 2023, the authorities enforced this relief, allowing Cemex to resume operations at the terminal.
Cemex has unveiled a new brand identity, its first change in over 30 years, to align with its evolution towards sustainable living. The refreshed logo reflects Cemex's commitment to innovation and sustainability, showcasing its ongoing initiatives such as Cement Go and Future in Action, which aim to decarbonize the building materials industry by 2030 and achieve net-zero CO2 emissions by 2050. CEO Fernando A. González emphasized the importance of sustainable construction. This rebranding is part of Cemex’s strategy to enhance its role in the building materials sector and its focus on digital solutions and urbanization.
CEMEX has secured US$3.2 million from the U.S. Department of Energy for the Solar MEAD project, aimed at revolutionizing cement production through the use of concentrated solar thermal (CST) energy.
The initiative, in partnership with Sandia National Laboratories and Synhelion, seeks to eliminate fossil fuels in clinker production, a critical step for decarbonization.
Previous achievements include producing the first solar clinker in 2022. The project will enhance heat transfer efficiency and potentially lower costs in the carbon capture process, aligning with CEMEX's commitment to achieving net-zero emissions by 2050.
CEMEX, S.A.B. de C.V. (NYSE: CX) has partnered with Volvo Trucks to introduce the world’s first fully electric heavy concrete mixer truck, showcased in Berlin, Germany. This initiative stems from a 2021 agreement aimed at enhancing productivity and reducing carbon emissions in the construction sector. The Volvo FMX electric truck will operate from the Berlin Spandau ready-mix plant, demonstrating advancements in emissions-free transport. CEMEX aims to reduce CO2 emissions by approximately 47% by 2030 and achieve net-zero emissions by 2050 under its Future in Action program.
CEMEX, S.A.B. de C.V. (NYSE: CX) has launched Regenera, a circularity solutions business focused on waste management, recycling, and coprocessing. It aims to use non-recyclable refuse and industrial byproducts to substitute fossil fuels and raw materials in construction. Regenera serves various clients, including governments and NGOs across multiple regions, with notable projects in Mexico, Colombia, France, and Egypt. With over 20 years of experience in alternative fuels, CEMEX expects Regenera to drive revenue growth. The Urbanization Solutions sector of CEMEX has seen double-digit growth recently, indicating strong performance.
CEMEX has validated its 2030 carbon reduction goals through the Science Based Targets initiative (SBTi), positioning itself among the first in the cement industry aligning with a 1.5ºC climate scenario.
The company aims to become net-zero in CO2 emissions by 2030, demonstrating substantial progress and commitment through its Future in Action program. CEMEX's initiatives are designed to reduce carbon emissions at every stage of the value chain, providing lower-carbon products to customers and playing a pivotal role in combating climate change.
