CEMEX complies with Ready Mix USA put option obligation - CEMEX complies with Ready Mix USA put option obligation - CEMEX USA
Monterrey, Mexico - August 12, 2011
CEMEX, S.A.B. de C.V. (CEMEX) (NYSE: CX) announced today that pursuant to the exercise of a put option by Ready Mix USA, it will assume full ownership in the two joint ventures between CEMEX USA and Ready Mix USA, which were created in 2005 and have cement, aggregates, ready mix and block assets located in the Southeast of the U.S.
The aggregate purchase price for Ready Mix USA’s interests is approximately US$350 million. CEMEX will also consolidate approximately US$28 million in net debt held by one of the joint ventures.
CEMEX is a global building materials company that provides high-quality products and reliable service to customers and communities in more than 50 countries throughout the world. CEMEX has a rich history of improving the well-being of those it serves through its efforts to pursue innovative industry solutions and efficiency advancements and to promote a sustainable future.