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.