Chilean cement and construction materials producer Melon SA has agreed to sell its local mortar company Melon Morteros SA to ParexGroup, a French provider of specialty dry-mix solutions for the construction industry.

The mortar unit is being sold for CLP4bn (US$6m), according to a filing with Chile’s securities and insurance regulator (SVS). ParexGroup will implement the transaction through its local subsidiaries, Parex Klaukol. SA and Parex Chile Ltd.