Cemex sells Austrian and Hungarian operations
By Joe Malone06 November 2015
Cemex has announced that it has closed the sale of its operations in Austria and Hungary to the Rohrdorfer Group for approximately €160.1 million. Plans for the sale were originally announced in August.
The Austrian operations consist of 24 aggregate quarries and 34 ready-mix plants, which recorded sales of approximately US$241 million (€221.4 million) in 2014. Meanwhile, the Hungarian operations consist of five aggregate quarries and 34 ready-mix plants, which recorded sales of approximately US$47 million (€43.1 million) in 2014.
The proceeds obtained from this transaction will be used mainly for debt reduction and for general corporate purposes, said Cemex.