Skip to main content

Cemex sells remaining direct stake in GCC

Published by , Editor
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

 EnviroTech

Ready to revolutionise the cement industry?

Join World Cement in Lisbon, 10 – 13 March 2024, for our first in-person conference and exhibition: EnviroTech.

This exclusive knowledge and networking event will bring together cement producers, industry leaders, technical experts, analysts, and other stakeholders to discuss the latest technologies, processes, and policies being deployed at the forefront of the cement industry’s efforts to reduce its environmental footprint.

Final tickets on sale NOW »

 
 
 

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


 

This article has been tagged under the following:

Cemex news US cement news