CEMEX agrees to increase participation in Lehigh White Cement Company - CEMEX agrees to increase participation in Lehigh White Cement Company - CEMEX USA
Monterrey, Mexico - February 14, 2018
CEMEX, S.A.B. de C.V. (“CEMEX”) (NYSE: CX) announced today that one of its subsidiaries in the U.S. agreed to increase its ownership interest in Lehigh White Cement Company (“Lehigh White”) from 24.5% to 36.75%.
Lehigh White is a U.S. company that manufactures white cement in the U.S. which is currently 51% owned by Lehigh Cement Company LLC, U.S. subsidiary of HeidelbergCement; 24.5% owned by Aalborg Cement Company, a U.S. subsidiary of Cementir Holdings S.p.A, and 24.5% owned by a U.S. subsidiary of CEMEX. HeidelbergCement has agreed to divest its 51% interest to Cementir and CEMEX. As a result, Cementir would own 63.25% and CEMEX would own 36.75% of Lehigh White.
The total consideration expected to be paid by CEMEX is approximately U.S.$34 million.
The closing of the transaction is expected to take place by the end of the first quarter of 2018 and remains subject to the satisfaction of standard closing conditions for this type of transaction.
For more information about Lehigh White, please visit: www.lehighwhitecement.com
CEMEX is a global building materials company that provides high-quality products and reliable services to customers and communities in more than 50 countries. CEMEX has a rich history of improving the well-being of those it serves through innovative building solutions, efficiency advancements, and efforts to promote a sustainable future. For more information, please visit: www.cemex.com
THIS PRESS RELEASE CONTAINS FORWARD-LOOKING STATEMENTS AND INFORMATION THAT ARE NECESSARILY SUBJECT TO RISKS, UNCERTAINTIES, AND ASSUMPTIONS. NO ASSURANCE CAN BE GIVEN THAT THE TRANSACTIONS DESCRIBED HEREIN WILL BE CONSUMMATED OR AS TO THE ULTIMATE TERMS OF ANY SUCH TRANSACTIONS. CEMEX ASSUMES NO OBLIGATION TO UPDATE OR CORRECT THE INFORMATION CONTAINED IN THIS PRESS RELEASE. CEMEX IS NOT RESPONSIBLE FOR THE CONTENT OF ANY THIRD-PARTY WEBSITE OR WEBPAGE REFERENCED TO OR ACCESSIBLE THROUGH THIS PRESS RELEASE.