Cemex ponders sale of assets

Mexican cement sector giant 643 Cemex has confirmed the option of selling assets in US to reduce its debt level, Forbes magazine reports. These operations would not affect projects related to cement or concrete sales, although assets involving aggregates could be considered.

Since 2013, Cemex remains focused on disinvesting US$1 billion-$1.5 billion by selling assets. During the January-September 2015 period, the firm reduced its liabilities by $620 million and expects to reach its target in the short-term. Fernando Gonzalez Olivieri, Cemex’s general director, estimated that the company could recover investment levels between 2017 and 2018, depending on the value of the US dollar. With regards to future operations, Olivieri is said by Forbes to have admitted the firm's interests in entering the Cuban market, although the company is still assessing possibilities in the island.

Meanwhile, Cemex expects to improve its performance in the domestic market during 2016, after a disappointing 2015, when the company experienced a decline of infrastructure operations. Juan Romero Torres, president of Cemex in Mexico, forecasted a growth of between 3.5% and 4% in the local construction sector in 2016. In addition, the firm seeks to participate in the tenders for the new Mexico City international airport (NAICM).