Cemex And Ready Mix USA Complete JV

Cemex And Ready Mix USA Complete JV
Published: 05 July 2005

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.