Mexico’s Cemex acquires majority stake in German aggregates producer

MEXICO CITY, July 11 (Reuters) – Mexican cement maker Cemex
said Monday it had completed the acquisition of a 53% stake in
ProStein, a German company that makes aggregates, or grained
particulate used in construction.

The company’s aggregates sales in Germany are expected to
double with the acquisition, Cemex said in a statement, and
increase capacity to serve major cities in Poland and the Czech
Republic as well as Berlin.

With the acquisition, Cemex gains access to ProStein’s six
active hardstone plants and six construction, demolition and
excavation waste recovery sites, it said.

“This investment allows us to have a sustainable supply of
high-quality aggregates in a major metropolitan center for years
to come,” said Sergio Menendez, president of CEMEX Europe,
Middle East, Africa and Asia.

The current reserves should last for at least the next 25
years, taking sales growth into account, Cemex said.
(Reporting by Kylie Madry in Mexico City
Editing by Mark Potter)