Cemex sold assets for $ 1.391 million to various companies between March 2019 and March 2020, including a transaction still to be completed.
Founded in 1906, the company controls companies whose main activities are oriented to the construction industry, through the production, commercialization, sale and distribution of cement, concrete, aggregates and other materials and services for construction.
Cemex: its sales
As of March 31, 2020, through a subsidiary in the United Kingdom, Cemex had a firm commitment signed on January 8, 2020 with Breedon Group plc for the sale of certain assets in the amount of £ 155 million (192 million dollars), including 22 million dollars of debt.
Assets for sale consist mainly of 49 concrete plants, 28 aggregate quarries, four warehouses, one cement terminal, 14 asphalt plants, four concrete product facilities, as well as part of Cemex’s paving solutions business. in the United Kingdom.
Upon completion of the divestment, the Mexican company will continue to maintain significant UK operations related to the production and sale of cement, concrete, aggregates, asphalt and paving solutions.
On March 6, 2020, the sale of its US subsidiary, Kosmos Cement Company (Kosmos), a partnership with a subsidiary of BUZZI UNICEM SpA in which it had a 75% interest, was concluded to Eagle Materials Inc. for 665 million Dollars.
The resources that the Mexican company obtained from this transaction were $ 499 million before transactional costs and expenses and others.
The assets sold consist of the Kosmos cement plant in Louisville, Kentucky, as well as related assets that include seven distribution terminals and raw material reserves.
On June 28, 2019, it concluded the sale of its concrete and aggregates business in the central region of France with different counterparties for € 31.8 million ($ 36.2 million).
On May 31, 2019, the company completed the sale of its aggregates and concrete assets in the North and Northwest regions of Germany to GP Günter Papenburg AG for € 87 ($ 97 million).
The divestment assets in Germany consisted of four aggregate quarries and four concrete plants in northern Germany, and nine aggregate quarries and 14 concrete plants in northwestern Germany.
Baltic and Nordic countries
On March 29, 2019, Cemex sold its assets in the Baltic and Nordic countries to the German construction materials group Schwenk for a price in euros equivalent to $ 387 million.
The Baltic assets sold consist of a cement production plant in Broceni with a production capacity of approximately 1.7 million tons, four aggregate quarries, two cement quarries, six concrete plants, a maritime terminal and a land distribution terminal in Latvia. Assets sold include Cemex’s 37.8% stake in Akmenes Cementas AB, which owns a cement production plant in Akmene, Lithuania with a production capacity of approximately 1.8 million tonnes, as well as the export business to Estonia.
The Nordic assets sold consisted of three import terminals in Finland, four import terminals in Norway and four import terminals in Sweden.
On March 29, 2019, he signed a definitive agreement with Çimsa Çimento Sanayi Ve Ticaret A.S. to sell its white cement business, except in Mexico and the United States, for a price of 180 million dollars, including the white cement plant in Buñol, Spain and its list of white cement clients.
The transaction is subject to completion by the authorization of the Spanish authorities.
Currently, he hopes to be able to close this sale during the first half of 2020.