Cemex, a Mexican cement company, has announced its plans to acquire the German company Kiesel, which specializes in mortars and adhesives used in the construction industry. The exact amount of the acquisition has not been disclosed.
In a statement, Cemex stated that the purchase of Kiesel is part of its strategy to strengthen its urban solutions business. Kiesel, with over 60 years of experience in the German market, also has a presence in France, Poland, and the Czech Republic.
Sergio Menéndez, president of Cemex Europe, Middle East, Africa, and Asia, expressed the company’s commitment to providing sustainable and innovative solutions to growing urban markets. The acquisition is expected to be concluded by the end of the fourth quarter of 2023 or shortly thereafter.
Cemex has been actively expanding its presence in the construction industry, recently acquiring a plant in Spain to take advantage of the urbanization trends in Madrid.
Further details about the acquisition and its impact on Cemex’s operations are yet to be revealed.