Cemex divest operations in Guatemala
Company sells Guatemalan cement and concrete operations to Holcim Group for US$200 million
CEMEX have sold their operations in Guatemala to Holcim Group, for a total consideration of approximately US$200 million.
The divested assets mainly consist of one grinding mill, three ready-mixed concrete plants, and five distribution centres. As of 31 December 2023, the grinding mill had an installed capacity of around 600,000 tonnes per year.
‘In 2024, we have accelerated the execution of our portfolio rebalancing strategy with the announced sale of more than US$2 billion in assets located primarily in emerging markets,’ said Fernando A. González, chief executive officer of Cemex.
‘We are now primed for the next stage by redeploying most of the divestment proceeds in developed markets, primarily the US. We expect these efforts to drive sustainable growth for our business in the short and medium term.’
The use of divestment proceeds will prioritize aggregates, urbanization solutions, and cement, with a strong focus on lower-carbon and circular economy initiatives, along with other general corporate purposes. This aligns with the company’s growth strategy, which targets bolt-on acquisitions in developed markets.
Cemex say that by concentrating on markets where the company already operates and which offer the most promising growth opportunities, in businesses that fit seamlessly with current products and customers, they have successfully driven incremental EBITDA over the past year.
