Cemex announced today that it is exploring the sale of certain assets in Australia. The proceeds from the potential asset sale will be used for debt reduction.
The assets being considered for sale operate under the Humes brand name and consist of 16 concrete pipes and products manufacturing facilities located throughout Australia. Humes sold over 580,000t of product in 2007, generating revenues of approximately A$255m (US$234m).
Cemex has mandated Merrill Lynch as its financial advisor in connection with the sales process