Cemex has announced that its US unit plans to form a joint-venture with privately held Ready Mix USA, geared toward the southeastern US market.
In a press release, the Monterrey-based company said Cemex Inc will contribute to the venture two cement plants - one in Alabama and one in Georgia - 11 cement terminals, and ready-mix aggregates and block assets in the Florida Panhandle.
Its proposed partner will put up 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.
Cemex will manage the cement assets, and Ready Mix USA will handle the ready-mix, aggregate and block assets. After three years, Ready Mix USA will have the option to require that Cemex buy its interest in the joint-venture, Cemex said.