Cemex sells overseas operations
Cemex signed an agreement to sell its operations in Australia, Hungary and Croatia, as well as its assets in Bosnia, Herzegovina, Montenegro and Serbia.
The company sold its operations in Australia and Hungary to the Rohrdorfer Group for about $178 million. The Australian operations include 24 aggregates quarries and 34 ready-mix plants, and the Hungarian operations include five aggregate quarries and 34 ready-mix plants.
In 2014, the Australian operations had net sales of about $241 million, reports Cemex, while the Hungarian operations had net sales of about $47 million. This transaction is expected to finalize during the fourth quarter of 2015.
Cemex sold its operations in Croatia, as well as the assets in Bosnia, Herzegovina, Montenegro and Serbia, to Duna-Dráva Cement for about $256.7 million. The assets sold include three cement plants, two aggregate quarries and seven ready-mix plants. The operations in Croatia, as well as the assets, had net sales of about $138 million in 2014. This transaction is also expected to close during the fourth quarter of 2015.
According to Cemex, the proceeds made from this transaction will be used for debt reduction and general corporate purposes. The company currently serves customers and communities in more than 50 countries.
About the Author: Allison Kral
Allison Kral is the former senior digital media manager for North Coast Media (NCM). She completed her undergraduate degree at Ohio University where she received a Bachelor of Science in magazine journalism from the E.W. Scripps School of Journalism. She works across a number of digital platforms, which include creating e-newsletters, writing articles and posting across social media sites. She also creates content for NCM's Portable Plants magazine, GPS World magazine and Geospatial Solutions. Her understanding of the ever-changing digital media world allows her to quickly grasp what a target audience desires and create content that is appealing and relevant for any client across any platform.Subscribe to Pit & Quarry
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