FCC seeks buyers for US cement business

FCC seeks buyers for US cement business
Published: 20 May 2011

Spanish construction major FCC is looking to sell its US cement unit as part of a drive to shed non-core assets and trim net debts of EUR 8.23bn, the Financial Times reported.

FCC has initiated talks with potential buyers through its subsidiary Cementos Portland Valderrivas. The assets on the table include three US cement plants plus a number of smaller facilities producing gravel and ready-mix concrete.

According to knowledgeable sources, the sale should generate between US$600m and US$700m and several buyers from South America have expressed interest.

However, sources close to FCC insisted the sale will not proceed if the price is deemed inadequate and the company is not under pressure to agree a deal.