Skip to main content

Cemex sells remaining direct stake in GCC

Published by
World Cement,


Mexican building materials group, Cemex, has sold its remaining shares in Grupo Cementos de Chihuahua (GCC) for around US$168 million. The sale represents about 9.47% of the equity capital of GCC.

The proceeds from the sale will be used mainly for debt reduction and for general corporate purposes, Cemex said in a press release. The sale was made within the context of the company’s global asset divestiture plans.

Cemex will retain a 20% indirect interest in GCC through its minority stake in CAMCEM, which owns a majority interest in GCC.

Founded in 1941, GCC operates three cement plants and two distribution centres in Mexico, as well as four cement plants and 22 distribution cement centres in the US.

Read the article online at: https://www.worldcement.com/the-americas/29092017/cemex-sells-remaining-direct-stake-in-gcc/

You might also like

 WCT2020

WCT2020

WCT2020 provides a unique online forum for cement industry professionals to hear first-hand from experts through a series of exclusive presentations from cement producers and industry experts.

Find out more and register for the series »

 

 Spotlight

World Cement Spotlight with Rockwell Automation

World Cement Editor, David Bizley, sat down with Michael Tay, Advanced Analytics Product Manager at Rockwell Automation to discuss his recent article in World Cement.

Entitled ‘Smooth Sailing’, this article explains how machine learning can help save energy, reduce downtime and predict equipment failures, thus enabling the smooth running of cement plant operations.

Watch the interview now »

 
 
 

Embed article link: (copy the HTML code below):


 

This article has been tagged under the following:

Cemex news US cement news