Cemex, Lafarge terminate Iberian joint ventures

Cemex, Lafarge terminate Iberian joint ventures
Published: 23 December 2005

Cemex, Lafarge terminate Iberian joint ventures

Cemex SA said Thursday it has unwound its joint ventures with France ’s Lafarge SA, as agreed earlier this year. In a press release, Cemex said it has has dissolved the 50-50 partnership in Readymix Asland in Spain and Betecna Betao Pronto in Portugal .

Lafarge now has 100 per cent of the two concerns, while Cemex received EUR50m in cash, 29 concrete plants and five aggregates quarries in Spain . A sixth quarry is subject to regulatory approval. The joint-venture was among assets acquired when Cemex bought RMC Group of the U.K. in March for $5.8bn.