Cemex move to improve balance sheet

Cemex move to improve balance sheet
Published: 05 September 2005

In a further move to reduce the debt on its balance sheet in the wake of the cash acquisition of RMC Group, Cemex has sold assets valued at US$91.6m to its existing joint venture with the family controlled Ready Mix USA. The deal covers 27 batching plants and four concrete block factories, all in the greater Atlanta, Georgia area and trading under the Allied Ready Mix name. These operations will be managed by the Birmingham, Alabama, based Ready Mix USA, as is the case with all the concrete operations of the joint venture, established on the 1st of July this year, while Cemex manages the two cement plants and eleven cement terminals originally put into the joint venture.