Cemex has signed a US$389m agreement with Brazil’s Votorantim Participacoes to sell assets in the USA, Cemex said in a statement.
Cemex will sell the plants Charlevoix and Dixon-Marquetteand, and a number of distribution terminals in the Great Lakes Region, the USA. The two plants have a capacity to produce 2Mta of cement.
The letter of intent over the deal was signed in November 2004. The waiting period in accordance with the Hart-Scott-Rodino Antitrust Improvements Act has expired. The deal is expected to be closed in the first quarter of 2005. Cemex will use the resources from the sale to reduce its debt.
Cemex will keep its distribution terminal in Detroit.