Cemex Sells Guatemalan Operations to Holcim for $200 Million

By Anthony Harrup

MEXICO CITY--Mexican building materials company Cemex sold its operations in Guatemala to Holcim Group for around $200 million as it continues to reshape its portfolio with a focus on developed markets.

The Guatemalan assets include a grinding mill with capacity of 600,000 metric tons a year, three ready-mix concrete plants, and five distribution centers, Cemex said Tuesday.

Cemex said its announced sales this year amount to more than $2 billion of assets located mostly in emerging markets. It will deploy the proceeds in developed markets, primarily the U.S., with a focus on aggregates, cement and urbanization solutions.

The strategy is concentrated on markets where Cemex already has operations and the most promising growth opportunities, the company added.

In August, Cemex agreed to sell its operations in the Dominican Republic to Cementos Progreso Holdings for around $950 million. Last week, it said it expects to receive $209 million from the sale of its 34.8% stake in technology consultancy company Neoris. Cemex reached a deal in April to sell its operations in the Philippines.

Write to Anthony Harrup at anthony.harrup@wsj.com

(END) Dow Jones Newswires

September 10, 2024 18:03 ET (22:03 GMT)

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