Cemex Closes US$389.5m deal with Votorantim

Cemex Closes US$389.5m deal with Votorantim
Published: 01 April 2005

Cemex has closed a US$389.5 m deal with Brazilian industrial conglomerate Votorantim Participacoes to sell assets in the USA, Cemex said on March 31, 2005.  Cemex has sold the cement plants Charlevoix and Dixon-Marquetteand, and a number of distribution terminals in the Great Lakes Region, northern USA. Each of the two plants has a capacity to produce 2Mt of cement annually. The plants accounted for 9.0 per cent of Cemex operating cash flow in the USA. Cemex will keep its distribution terminal in Detroit.  The letter of intent over the deal was signed in November 2004.