Foresight injects £4.5m into Cemex UK projects

Foresight is making the investment through holding company Industrial Efficiency II Limited.

The new investment will be focused on fuel-switching projects at 10 of Cemex's sites and will be used to purchase, install and operate the fuel-switching projects.

Both investments have seen Decarbon Capital, an investment company specialising in energy efficiency, invest alongside Foresight.

Previous funding
The firm first backed Cemex in September last year via a £350,000 investment in  holding company Industrial Efficiency Limited. The firm drew capital from its Foresight and Foresight 2 VCTs.

Company
Founded in 1906 and headquartered in Mexico, Cemex is a supplier of building materials and a producer of cement. Its UK division is headquartered in Surrey.

Cemex UK employs 3,500 staff and generates around £775m in annual turnover. The entire company employs 40,000 staff and generates around $15bn per year.

Cemex UK operates around 230 concrete mixing plants in the UK, as well as 63 quarries. It supplies ready-mixed concrete, crushed rock, sand and gravel to the construction industry.

People
Martin Hills is energy manager at Cemex UK. Matt Smith is a director at Foresight. Dan Saunders is a managing director at Decarbon.

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• Topics
• Expansion
• UK / Ireland
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• United Kingdom
• Foresight Group
• Project finance