About Us - Press Release - CEMEX complies with Ready Mix USA put option obligation
August 12, 2011
CEMEX, S.A.B. de C.V. (CEMEX) (NYSE: CX) announced today that pursuant to the exercise of a put option by Ready Mix USA, it will assume full ownership in the two joint ventures between CEMEX USA and Ready Mix USA, which were created in 2005 and have cement, aggregates, ready mix and block assets located in the Southeast of the U.S.
The aggregate purchase price for Ready Mix USA’s interests is approximately US$350 million. CEMEX will also consolidate approximately US$28 million in net debt held by one of the joint ventures.
CEMEX is a 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.
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.