About Us - Press Release - CEMEX exploring sale of assets
May 6, 2008
CEMEX, S.A.B. de C.V. (NYSE: CX), announced today that it is exploring the sale of select assets.
The assets being considered for sale include operations in Austria, Hungary and select building products in the United Kingdom. CEMEX has mandated Morgan Stanley as its financial advisor in connection with the sales process in Austria and Hungary and Citigroup for the UK sales process.
- The Austrian operations consist of 26 aggregate plants (7.1 million metric tons of volume sold in 2007) and 39 ready-mix plants (2.0 million cubic meters of volume sold in 2007). These assets generated revenues of approximately US$274 million in 2007.
- The Hungarian assets are comprised of 5 aggregate plants (1.8 million metric tons of volume sold in 2007), 31 ready-mix plants (0.8 million cubic meters of volume sold in 2007) and 5 paving stone plants. 2007 revenues from these assets were approximately US$84 million.
- The UK assets include the Floors, Roof Tiles and the Rail Products businesses, which generated combined sales of approximately US$98 million in 2007.
The proceeds from the potential assets sale will be used for debt reduction.
Specific information related to the sales processes in Austria and Hungary can be obtained from Morgan Stanley; Mr. Johannes Solich (44-20-7425-5668,
Specific information related to the sales process in the UK can be obtained from Citigroup; Mr. Jan Skarbek (44-20-7986-7573, email@example.com).
CEMEX is a growing global building materials company that provides high-quality products and reliable service to customers and communities in more than 50 countries throughout the world. CEMEX has a rich history of improving the well-being of those it serves through its efforts to pursue innovative industry solutions and efficiency advancements and to promote a sustainable future. For more information, visit www.cemex.com.
This press release contains forward-looking statements and information that are necessarily subject to risks, uncertainties, and assumptions. Many factors could cause the actual results, performance, or achievements of CEMEX to be materially different from those expressed or implied in this release, including, among others, changes in general economic, political, governmental and business conditions globally and in the countries in which CEMEX does business, changes in interest rates, changes in inflation rates, changes in exchange rates, the level of construction generally, changes in cement demand and prices, changes in raw material and energy prices, changes in business strategy, and various other factors. Should one or more of these risks or uncertainties materialize, or should underlying assumptions prove incorrect, actual results may vary materially from those described herein. CEMEX assumes no obligation to update or correct the information contained in this press release.