Cemex to Sell Ready-Mixed Concrete and Aggregate Assets in Germany

2019-03-29 09:24:53

Cemex has been aggressively seeking to reduce its debt and regain an investment-grade rating

Cemex has reached a binding agreement to sell its aggregate and ready-mix concrete assets in northern and northwestern Germany to GP G Günter Papenburg for a total price of about 87 million euros. They expect the definitive agreement to be signed in April 2019 and the divestiture to be completed in the second quarter of 2019. The divested assets

in Germany include four aggregate quarries and four ready-mix concrete plants in northern Germany and nine aggregate quarries and 14 ready-mix concrete plants in northwestern Germany. The proceeds from this divestiture are

expected to be used primarily for debt reduction and general corporate purposes. The deal is being approved by standard regulators.

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Correlation

Cemex to Sell Ready-Mixed Concrete and Aggregate Assets in Germany

Cemex has been aggressively seeking to reduce its debt and regain an investment-grade rating

2019-03-29 09:24:53

CEMPI

102.85

-0.1 -0.1%

CONCPI

90.90

-0.14 -0.15%

CLKPI

111.48

-0.19 -0.17%

SPPI

45.05

-0.07 -0.16%

MORPI

73.32

-1.52 -2.03%

Cement Net Report: $712 million! Japan Pacific Cement Acquires American Concrete Mixing Plant

Pacific Cement announced on the 28th that it would acquire assets such as California Ready-Mixed Concrete Plant from Vulcan Company of the United States for $712 million (about 100 billion yen), the largest acquisition in its history. It is planned to be completed in December 2025, with sales of about $520 million in fiscal year 2024. After the acquisition, there will be 110 ready-mixed concrete factories in the United States, which can be expanded to northern California. Demand for infrastructure and housing in the United States is booming, while the domestic cement market in Japan is shrinking, so the company takes this opportunity to improve its profitability in the U.S. market, and says the acquisition has nothing to do with Trump's visit to Japan.