Cemex earmarks US$100mn of assets to divest

In an interview, the CEO of Mexican cement company Cemex, Fernando Gonzalez explained that he would have more clarity about the non-strategic assets Cemex will sell in the second quarter of 2015. It is reported that the company is making progress with the analysis of these assets and has identified around US$100 million (€91.88 million) worth of them that could be sold to reduce debts. Cemex intends to de-invest raising between US$1 billion and US$1.5 billion which should compensate any potential impact fro

Mexican construction materials giant Cemex could sell part of its business in northern Europe, the Mediterranean and Asia as part of a debt repayment plan, the company’s CEO told Reuters news agency.

Fernando Gonzalez said the firm could also sell 5 to 10% of its subsidiary Cemex Latam Holdings, and set aside 50% of its earnings from asset sales to lower its debt burden.

Cemex recently revealed a plan to cut costs and sell assets to boost its finances and cut liabilities, in a bid to regain its invest

Mexican building materials giant Cemex will focus on cement and concrete in 2015, with sales of both, and aggregates, growing by one digit this year, according to its senior director Fernando Gonzalez.

Sales of cement and aggregates are likely to rise by around 5% in Mexico during 2015, claims Gonzalez, who also believes national concrete sales will rise above that figure this year.