Press Releases

September 9, 2021

• CEMEX, Volvo Construction Equipment, and Volvo Trucks have signed a memorandum of understanding.
• CEMEX and Volvo both share a strategic goal to address climate change and reduce their CO₂ footprint.
• The aim is to support the efforts to reach net-zero CO₂ emissions by utilizing services for increased efficiency and electric products.

CEMEX, S.A.B. de C.V. (“CEMEX”) announced today that it will work together with Volvo Construction Equipment and Volvo Trucks (hereinafter jointly referred to as “Volvo”) to develop a zero-emissions fleet with electromobility solutions that aligns with CEMEX´s climate action program, Future in Action.

The companies have reached a memorandum of understanding to closely collaborate to improve productivity and CO₂ footprint through the global implementation of electromobility solutions on mobile construction equipment and trucks, productivity solutions, and uptime services. Initial developments and trials of technologies are planned for a European site.

Rodrigo Konda, Key Account Manager at Volvo Construction Equipment, added that “CEMEX is a great example of how a company can truly commit to becoming carbon neutral in an energy-intensive industry such as construction materials. We are eager to partner with them and work together with an ambition to create the first CO₂-neutral fleet in the construction space with our best-in-class productivity services as well as electromobility solutions.”

“Working together with a leading global company in electromobility construction equipment and trucks such as Volvo will strengthen our efforts to address climate change and reduce our carbon footprint to reach net-zero by 2050. We are excited to collaborate and develop a plan roadmap to introduce electric trucks and equipment throughout our operations,” said Vicente Saiso, Head of Global Sustainability of CEMEX.

CEMEX shares many values with Volvo, and the companies are committed to reaching their sustainability targets and contributing to the decarbonization of the global economy. As global leaders in their respective industries, CEMEX and Volvo bring together in this alliance unique experiences and approaches to innovation and technology that can drive real progress on climate action.

Under its Future in Action program, CEMEX recently announced a leading industry climate action target of below 475 kg CO₂ per metric ton of cementitious materials, an approximate >40% reduction in CO₂ emissions, by 2030. This new goal aligns with the Well Below Two Degree scenario of the Science-Based Target initiative (“SBTi). The company also reaffirmed its 2050 goal of being net-zero carbon in concrete.

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

Note: Percentage variations related to kilograms of CO₂ emissions per ton of cementitious materials or cubic meters of concrete are compared to the company´s 1990 baseline.

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.