The US subsidiary of Cemex and Ready Mix USA, a private ready-mix concrete company with operations in the Southeastern United States, today announced that they have established a Joint Venture to satisfy the growing construction needs of the Southeast region of the country. Under the arrangement, Cemex will contribute two cement plants (Demopolis, AL and Clinchfield, GA), eleven cement terminals, and its ready-mix aggregates, and block assets in the Florida Panhandle and South Georgia to the joint venture.
Ready Mix USA will contribute all of its ready-mix and aggregate operations in Alabama, Georgia, the Florida Panhandle and Tennessee, as well as its block operations in Arkansas, Tennessee, Mississippi, Florida and Alabama. The cement assets of the joint venture will be managed by Cemex, and the ready-mix, aggregate and block assets will be managed by Ready Mix USA. After the third anniversary of the formation of the joint venture, for an extended period of time, Ready Mix USA will have the option, but not the obligation, to require Cemex to purchase Ready Mix USA’s interest in the joint venture.