Cemex announces US$150 million US divestment

Mexico-based cement maker Cemex has finalised the divestment of its Pacific Northwest Materials business in the US.

The US$150 million deal sees Cadman Materials – part of Lehigh Hanson Inc, and the US subsidiary of Heidelberg Cement Group – take on Cemex’s aggregate, asphalt and ready mix concrete operations in the region.

Pacific Northwest Materials includes seven aggregate quarries, five ready-mix concrete plants and two asphalt operations, employing about 350 employees.

It is expected that the proceeds from the sale will be used by Cemex for debt reduction and general corporate purposes