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Cemex explore sale of assets

Cemex announced this week that they are exploring the sale of select assets including part of its UK concern.

Cemex explore sale of assets

The UK assets include the floors, roof tiles and the rail products businesses, which generated combined sales of approximately $98m in 2007.

The move follows the sale of the Cemex Thermabate insulation business to Kingspan last month and the closure of their Irish plant in Co Kildare, announced last November.

Other assets being considered for disposal include 26 aggregate plants and 39 ready-mix plants in Austria and five aggregate plants, 31 ready-mix plants and five paving stone plants in Hungary.

Cemex have appointed Citigroup as their financial advisor for the UK sales process and Morgan Stanley for the Austrian and Hungarian sales.

The proceeds from the potential assets sale will be used for debt reduction.

For more information about the UK sale, contact Jan Skarbek at jan.skarbek@citi.com.

About Fiona Russell-Horne

Fiona Russell-Horne
Group Managing Editor across the BMJ portfolio.

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