CEMEX Agrees to Increase Participation in Lehigh White Cement Company
February 14 2018 - 11:55AM
Business Wire
CEMEX, S.A.B. de C.V. (“CEMEX”) (NYSE: CX) announced today that
one of its subsidiaries in the U.S. agreed to increase its
ownership interest in Lehigh White Cement Company (“Lehigh White”)
from 24.5% to 36.75%.
Lehigh White is a U.S. company that manufactures white cement in
the U.S. which is currently 51% owned by Lehigh Cement Company LLC,
U.S. subsidiary of HeidelbergCement; 24.5% owned by Aalborg Cement
Company, a U.S. subsidiary of Cementir Holdings S.p.A, and 24.5%
owned by a U.S. subsidiary of CEMEX. HeidelbergCement has agreed to
divest its 51% interest to Cementir and CEMEX. As a result,
Cementir would own 63.25% and CEMEX would own 36.75% of Lehigh
White.
The total consideration expected to be paid by CEMEX is
approximately U.S.$34 million.
The closing of the transaction is expected to take place by the
end of the first quarter of 2018 and remains subject to the
satisfaction of standard closing conditions for this type of
transaction.
For more information about Lehigh White, please visit:
www.lehighwhitecement.com
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. For more information, please visit:
www.cemex.com
THIS PRESS RELEASE CONTAINS FORWARD-LOOKING STATEMENTS AND
INFORMATION THAT ARE NECESSARILY SUBJECT TO RISKS, UNCERTAINTIES,
AND ASSUMPTIONS. NO ASSURANCE CAN BE GIVEN THAT THE TRANSACTIONS
DESCRIBED HEREIN WILL BE CONSUMMATED OR AS TO THE ULTIMATE TERMS OF
ANY SUCH TRANSACTIONS. 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/20180214006055/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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