About Us - Press Release - CEMEX completes sale of U.S. assets
March 31, 2005
CEMEX, S.A. de C.V. (NYSE: CX) announced today that it has completed the sale of certain CEMEX assets in the Great Lakes region of the U.S. to Votorantim Participacoes S.A.
Votorantim acquires the Charlevoix and Dixon-Marquette cement plants, and certain distribution terminals located in the Great Lakes Region.
CEMEX began evaluating alternatives to divest these assets in 2004, after reviewing its strategic position in the U.S. The transaction was structured as a sale of assets. CEMEX will keep its distribution terminal located in Detroit. The value of the transaction is approximately U.S. $ 389.5 million.
Total production capacity of both cement plants is close to 2 million metric tons a year, which has represented approximately nine percent of the current operating cash flow generation of CEMEX's U.S. business prior to the RMC acquisition.
CEMEX is a growing global building solutions company that provides products of consistently high quality and reliable service to customers and communities in more than 50 countries throughout the world. The company improves the well-being of those it serves through its relentless focus on continuous improvement and efforts to promote a sustainable future. For more information about the company, visit www.cemex.com.
This press release contains forward-looking statements and information that are necessarily subject to risks, uncertainties and assumptions. CEMEX assumes no obligation to update or correct the information contained in this press release.