Agg-Net

The Aggregates & Recycling Information Network
Mobile Menu
From the organisers of
 

2022 / 2023 Edition

Pre-order your copy here

CEMEX to divest operations in Central America

CEMEX

Company selling cement, concrete and aggregate operations in Costa Rica and El Salvador

CEMEX have signed an agreement for the sale of their operations in Costa Rica and El Salvador to Cementos Progreso Holdings SL, through their subsidiaries, for a total consideration of approximately US$335 million.

CEMEX say the transaction will further advance their goal under Operation Resilience, the company’s strategic plan to optimize its global portfolio.

The divested assets consist of one fully integrated cement plant, one grinding station, seven ready-mixed concrete plants, one aggregate quarry, and one distribution centre in Costa Rica, as well as one distribution centre in El Salvador.

‘This transaction allows us to progress in our portfolio rebalancing objectives, while redeploying resources to fund our growth investments and further deleveraging,’ said Fernando A. Gonzalez, chief executive officer of CEMEX.

Subject to satisfaction of closing conditions in Costa Rica and El Salvador, including approvals by competition authorities, CEMEX expect to finalize the transaction during the first half of 2022.

Proceeds from the divestment are expected to be used to fund the company’s bolt-on investment growth strategy in its key markets, to reduce debt, and for other corporate purposes.

Share this page

Add new comment

Filtered HTML

  • Web page addresses and e-mail addresses turn into links automatically.
  • Allowed HTML tags: <a> <em> <strong> <cite> <blockquote> <code> <ul> <ol> <li> <dl> <dt> <dd>
  • Lines and paragraphs break automatically.

Plain text

  • No HTML tags allowed.
  • Web page addresses and e-mail addresses turn into links automatically.
  • Lines and paragraphs break automatically.