Cemex Looks to Sell U.S. Assets

Cemex has confirmed the option of selling non-strategic assets in the U.S. to reduce its debt level, reported Forbes Mexico.

Since 2013, Cemex has remained focused on disinvesting $1 billion to $1.5 billion by selling assets. During the January-September 2015 period, the company reduced its liabilities by $620 million and expects to reach its target in the short-term.

Fernando Gonzalez Olivieri, Cemex’s CEO, estimated that the company could recover investment levels between 2017 and 2018, depending on the value of the dollar. With regards to future operations, Olivieri is said to have admitted the firm’s interests in entering the Cuban market.

Cemex expects to improve its performance in the domestic market during 2016, after a disappointing 2015, when the company experienced a decline of infrastructure operations.

Juan Romero Torres, president of Cemex Mexico, forecasted a growth of between 3.5 percent and 4 percent in the local construction sector in 2016. In addition, the company expects to participate in the construction of a new international airport in Mexico City.

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