CEMEX Announces Divestment of Its Pacific Northwest Materials Business in the U.S.
April 17 2017 - 5:15PM
Business Wire
CEMEX, S.A.B. de C.V. (“CEMEX”) (NYSE: CX) announced today that
one of its subsidiaries in the U.S. has signed a definitive
agreement for the sale of its Pacific Northwest Materials Business
consisting of aggregate, asphalt and ready mix concrete operations
in Oregon and Washington to Cadman Materials, Inc., a LehighHanson
company and U.S. subsidiary of HeidelbergCement Group, for
approximately U.S. $150 million.
The proceeds obtained from this transaction will be used mainly
for debt reduction and for general corporate purposes.
The closing of this transaction is subject to the satisfaction
of certain conditions, including approval from regulators. We
currently expect to finalize this divestiture during the second
quarter of 2017 or soon thereafter.
Bank of America Merrill Lynch and Citigroup Global Markets
Limited are acting as financial advisors to CEMEX in this
transaction.
CEMEX is a global building materials company that provides
high-quality products and reliable services to customers and
communities in more than 50 countries. CEMEX has a rich history of
improving the well-being of those it serves through innovative
building solutions, efficiency advancements, and efforts to promote
a sustainable future.
This press release contains forward-looking statements and
information that are necessarily subject to risks, uncertainties,
and assumptions. Many factors could cause the actual results,
performance, or achievements of CEMEX or the transaction herein
described to be materially different from those expressed or
implied in this release, including not satisfying all customary
closing conditions. Should one or more of these risks or
uncertainties materialize, or should underlying assumptions prove
incorrect, actual results may vary materially from those described
herein. CEMEX assumes no obligation to update or correct the
information contained in this press release. CEMEX is not
responsible for the content of any third-party website or webpage
referenced to or accessible through this press release.
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version on businesswire.com: http://www.businesswire.com/news/home/20170417005897/en/
CEMEX, S.A.B. de C.V.Media RelationsJorge
Perez, +52(81) 8888-4334mr@cemex.comorInvestor
RelationsEduardo Rendon, +52(81)
8888-4256ir@cemex.comorAnalyst RelationsLucy
Rodriguez, +1 212-317-6007ir@cemex.com
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