Cemex to Sell Ready-Mixed Concrete and Aggregate Assets in Germany

2019-03-29 09:24:53

Cemex has been aggressively seeking to reduce its debt and regain an investment-grade rating

Cemex has reached a binding agreement to sell its aggregate and ready-mix concrete assets in northern and northwestern Germany to GP G Günter Papenburg for a total price of about 87 million euros. They expect the definitive agreement to be signed in April 2019 and the divestiture to be completed in the second quarter of 2019. The divested assets

in Germany include four aggregate quarries and four ready-mix concrete plants in northern Germany and nine aggregate quarries and 14 ready-mix concrete plants in northwestern Germany. The proceeds from this divestiture are

expected to be used primarily for debt reduction and general corporate purposes. The deal is being approved by standard regulators.

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Correlation

Cemex to Sell Ready-Mixed Concrete and Aggregate Assets in Germany

Cemex has been aggressively seeking to reduce its debt and regain an investment-grade rating

2019-03-29 09:24:53

CEMPI

102.01

+1.6 +1.59%

CONCPI

86.65

-0.03 -0.03%

CLKPI

105.00

+2.12 +2.06%

SPPI

41.98

+0.35 +0.84%

MORPI

71.83

0.00 0.00%

Jiangxi Provincial Department of Industry and Information Technology: Implementation Rules for Abolishing Capacity Replacement of Cement and Glass Industry in Jiangxi Province

On October 13, the Office of Industry and Information Technology of Jiangxi Province announced that due to the revision of the policy of capacity replacement in the cement and glass industry by the Ministry of Industry and Information Technology, the Office of Industry and Information Technology of Jiangxi Province decided to abolish the Rules for the Implementation of Capacity Replacement in the Cement and Glass Industry of Jiangxi Province (Gongxin Regulation No.2024) from the date of issuance of the notice, and to abolish the "Rules for the Implementation of Capacity Replacement in the Cement and Glass Industry of Jiangxi Province". The capacity replacement of cement and glass industry in the whole province will be handled in accordance with the relevant policies of the Ministry of Industry and Information Technology in the future.