Cemex to sell US assets

643 Cemex has announced that it is to sell assets in Kentucky, US to 1815 Bluegrass Materials Company for US$90million. Under the agreement, Cemex will sell seven aggregates quarries, three resale aggregate distribution centres, and one concrete block manufacturing facility, which it describes as non-core assets.

The operations were acquired by Cemex as part of its buyout of 3583 Rinker in 2007 and transfer of these to Bluegrass is expected to take place in the third quarter of this year. Proceeds from the sale will be ised to reduce Cemex’s outstanding debts.