09.08.2024 13:07

Cemex to divest its operations in the Dominican Republic

The transaction includes export businesses to Haiti.
The agreement has been signed between a Spanish subsidiary of Cemex, as seller, and Cementos Progreso Holdings, S.L., through a subsidiary, and its strategic partners, as buyers.
The divested assets mainly consist of one cement plant in the Dominican Republic consisting of two integrated production lines and related cement, concrete, aggregates and marine terminal assets. The Dominican Republic operation is one of the leading cement players in the Caribbean region.
“This transaction advances us significantly in our portfolio rebalancing strategy which is focused on reducing our exposure in Emerging Markets and redeploying capital into growth investments in priority markets, primarily the U.S.” said Fernando A. Gonzalez, CEO of Cemex.
The divestment is subject to satisfaction of closing conditions. Cemex currently expects to finalize this transaction during the fourth quarter of 2024.
Proceeds from this divestment are expected to be used to fund the company’s bolt-on investment growth strategy in its key markets, particularly the U.S., and other corporate purposes.

Source: Cemex
The use of materials published on the site is allowed only with the reference to the source (the journal «Cement and its application») and a hyperlink to the quoted material.
Share:  
The use of materials published on the site is allowed only with reference to the source (the journal «Cement and its application») and a hyperlink to the quoted material.
© 2007-2024 PetroCem Ltd
Privacy policy