Cemex announces divestment of U.S. plant

|By:, SA News Editor

One of Cemex's (NYSE:CX) subsidiaries in the U.S. has signed a definitive agreement for the sale of its Fairborn, Ohio cement plant and cement terminal in Columbus, Ohio, to Eagle Materials (NYSE:EXP) for ~$400M.

2016 EBITDA for the divested assets is estimated to be $33M.

The proceeds obtained from this transaction will be mainly used for debt reduction and for general corporate purposes.

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