Cemex - August 2013

Cemex agreed another an assets exchange, this time with Holcim, and on a considerably larger scale. In Spain, Holcim will take a 25 per cent interest in the merged operations, which will become the largest cement producer in the country with a theoretical capacity of just over 16Mta, not all of which is active, with considerable aggregates and concrete operations. Bearing in mind the very sharp drop in Spanish cement demand over the past four years, the deal should facilitate the much-needed reduction in production capacities. Holcim has committed itself to remaining a minority shareholder in this merged business for at least five years.

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