CEMEX Finalizes Divestment of Cement Plant in Kentucky and Related Assets in the U.S.
Retrieved on:
Friday, March 6, 2020
de C.V. (CEMEX) (NYSE: CX) announced today that its U.S. affiliate, Kosmos Cement Company (Kosmos), a partnership with a subsidiary of BUZZI UNICEM S.p.A. in which CEMEX holds a 75% interest, has closed its previously announced divestment of its Kentucky cement plant and related assets to Eagle Materials Inc. for an aggregate amount of approximately U.S.$665 million, of which the proceeds to CEMEX will be approximately U.S.$499 million.
Key Points:
- de C.V. (CEMEX) (NYSE: CX) announced today that its U.S. affiliate, Kosmos Cement Company (Kosmos), a partnership with a subsidiary of BUZZI UNICEM S.p.A. in which CEMEX holds a 75% interest, has closed its previously announced divestment of its Kentucky cement plant and related assets to Eagle Materials Inc. for an aggregate amount of approximately U.S.$665 million, of which the proceeds to CEMEX will be approximately U.S.$499 million.
- The proceeds obtained by CEMEX from this transaction will be used mainly for debt reduction and for general corporate purposes.
- CEMEX is a global building materials company that provides high quality products and reliable services.
- CEMEX assumes no obligation to update or correct the information contained in this press release.