Cemex planning sales
08 May 2008
Cemex has announced plans to sell various businesses in Austria, Hungary and the UK in a bid to reduce its debt burden. The units in question had generated revenues of US$ 456 million last year.
The biggest proposed divestment will be in Australia where Cemex is looking to sell 26 aggregates plants with a total volume of 7.1 million tonnes and 39 ready-mixed concrete plants producing 2 million m3. These businesses had sales of US$ 274 million in 2007.
In Hungary the company wants to sell five aggregates plants with a total volume of 1.8 million tonnes, and 31 ready-mixed concrete plants with a total volume of 0.8 million m3. Cemex is also looking to divest five plants that produce paving stones. These various businesses had total sales of US$ 84 million last year.
The UK assets up for sale are Cemex's flooring, roof tile and rail product businesses, which had sales of US$ 98 million last year.