Cemex successfully closed the sale of its operations in Panama to Dominican conglomerate Grupo Estrella for an enterprise value of $200 million.
The divested assets mainly consist of a cement plant in Calzada Larga, Chilibre, which, as of Dec. 31, 2024, had an installed cement capacity of around 1.2 million metric tons per year. Related cement, ready-mix concrete and aggregates assets, as well as rights to acquire additional reserves for Panama’s operations, were also part of the deal.
Cemex will retain its admixtures business in Panama.
The company has also increased its holdings to a majority stake in U.S.-based Couch Aggregates, using a small portion of the Panama sale proceeds. Couch serves diverse markets with sand, gravel, and crushed stone, operating seven sand and gravel pits and five marine terminals.
“These transactions are important building blocks in our strategy to rebalance our portfolio and continue investing in growth in priority markets,” said Jaime Muguiro, CEO of Cemex.
