Cemex sold its operations in Guatemala to Holcim Group for a total consideration of approximately $200 million.
The transaction was signed and closed on Sept. 10.
The divested assets mainly consist of one grinding mill, three ready mix plants and five distribution centers. As of Dec. 31, 2023, the grinding mill had an installed capacity of around 0.6 million metric tons per year.
“In 2024, we have accelerated the execution of our portfolio rebalancing strategy with the announced sale of more than US$2 billion in assets located primarily in emerging markets,” said Fernando A. González, CEO of Cemex. “We are now primed for the next stage by redeploying most of the divestment proceeds in developed markets, primarily the U.S. We expect these efforts to drive sustainable growth for our business in the short and medium term.”
The use of divestment proceeds will prioritize aggregates, urbanization solutions and cement, with a strong focus on lower-carbon and circular economy initiatives, along with other general corporate purposes. This aligns with the company’s growth strategy, which targets bolt-on acquisitions in developed markets.
