Cemex sells assets in the United Kingdom for US $235 million

Mexican cement company Cemex, one of the largest in the world, said Wednesday that one of its subsidiaries signed an agreement for the sale of some assets in the United Kingdom to Breedon Group, for some US $235 million, which includes US $31 million of debt.

Cemex, with businesses in more than 50 countries, said the operation includes 49 ready-mix concrete plants, 28 aggregates quarries, four storage warehouses and a cement terminal, among other assets, that generated an operating flow of about US $21 million in 2018.

The transaction is expected to be completed during the second quarter of the year, the cement company said in a statement.

Cemex, whose shares closed the day before at 7.07 pesos with a 1.39% decline, added that the revenues it expects to obtain from the operation will be used mainly for debt reduction.

Sign Up for Our Newsletters

You May Also Like

Brazil will take 20 years to clear obstacles to agricultural exports

Brazil has spent billions of dollars to improve its port infrastructure, but…

Volkswagen and Ford are close to closing an agreement to manufacture autonomous driving cars

Volkswagen and Ford are close to reaching an agreement to develop autonomous…

Ford will eliminate thousands of jobs in Europe

Ford Motor Co. said on Thursday it will eliminate jobs in Europe…