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News Cemex to divest operations in the Dominican Republic

Cemex to divest operations in the Dominican Republic

Written by Global Cement staff 06 August 2024
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Dominican Republic: Cemex has signed an agreement to sell its operations in the Dominican Republic to Cementos Progreso Holdings and partners for US$950m. The sale includes a cement plant with a capacity of 2.4Mt/yr, 12 concrete plants, a quarry and two distribution centres, as well as export businesses to Haiti.The divestment is expected to finalise in the fourth quarter of 2024, pending closing conditions.

Fernando Gonzalez, CEO of Cemex, said "This transaction advances us significantly in our portfolio rebalancing strategy which is focused on reducing our exposure in emerging markets and redeploying capital into growth investments in priority markets, primarily the US."

Last modified on 07 August 2024
Published in Global Cement News
Tagged under
  • Dominican Republic
  • Cemex
  • Divestments
  • Sale
  • Cementos Progreso
  • Haiti
  • Export
  • GCW671

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