CEMEX Announces Divestment of Its Fairborn Cement Plant in the U.S.
September 12 2016 - 6:30AM
Business Wire
CEMEX, S.A.B. de C.V. (“CEMEX”) (NYSE: CX) announced today that
one of its subsidiaries in the U.S. has signed a definitive
agreement for the sale of its Fairborn, Ohio cement plant and
cement terminal in Columbus, Ohio to Eagle Materials Inc. for
approximately U.S.$400 million. 2016 EBITDA for the divested assets
is estimated to be U.S.$33 million.
The proceeds obtained from this transaction will be used mainly
for debt reduction and for general corporate purposes.
The closing of this transaction is subject to the satisfaction
of certain conditions, including approval from regulators. We
currently expect to finalize this divestiture during the fourth
quarter of 2016 or soon thereafter.
Bank of America Merrill Lynch is acting as financial advisor to
CEMEX in this transaction.
CEMEX is a global building materials company that provides high
quality products and reliable service to customers and communities
in more than 50 countries. Celebrating its 110th anniversary, CEMEX
has a rich history of improving the well-being of those it serves
through innovative building solutions, efficiency advancements, and
efforts 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, not satisfying the conditions to sell the above described
assets, 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.
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version on businesswire.com: http://www.businesswire.com/news/home/20160912005492/en/
CEMEXMedia RelationsJorge Pérez, +52(81)
8888-4334mr@cemex.comorInvestor RelationsEduardo
Rendón, +52(81) 8888-4256ir@cemex.comorAnalyst
RelationsLucy Rodriguez, +1-212-317-6007ir@cemex.com
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