Cemex - March 2019

Cemex has agreed to sell its operations in Latvia, where it owns the 1.6Mta cement plant at Broceni, as well as import and marketing operations in Sweden, where there are four, Finland (three), Norway (four), Estonia (1) and a 38 per cent stake in Lithuania's sole cement plant, to the privately-owned Schwenk Zement for EUR340m. To help finance the purchase, Schwenk is selling its 69.8 per cent stake in Schwenk Namibia on a Singapore-based investor for some US$73m.      

Cemex has also agreed to sell its Buñol white cement plant near Valencia in Spain for around US$180m to Çimsa, with the deal expected to be completed during the second half of this year. Çimsa forms part of the Turkish group Sabançi Holding, which by increasing its white cement capacity by around 40 per cent through the deal, expects to become the leading white cement producer in the world.