Cemex has announced a major strategic move with the sale of its Dominican Republic operations for approximately $950 million. This transaction, involving Cemex’s Spanish subsidiary and Cementos Progreso Holdings, S.L., marks a significant shift in the company’s portfolio.
The sale includes a comprehensive set of assets: a cement plant with two integrated production lines, and associated cement, concrete, aggregates, and marine terminal assets. Cemex’s Dominican Republic operations are prominent in the Caribbean cement market, reflecting a strong regional presence.
Fernando A. Gonzalez, CEO of Cemex, highlighted the strategic importance of this divestment: “This transaction is a key milestone in our portfolio rebalancing strategy. It helps us reduce exposure in Emerging Markets and allows us to reallocate capital towards growth opportunities in priority markets, particularly the US.”
The deal, expected to close in the fourth quarter of 2024, is contingent upon the fulfillment of closing conditions. Proceeds from the sale will be directed towards Cemex’s bolt-on investment strategy in key markets, with a focus on the US, and other corporate objectives.
J.P. Morgan and Lazard are advising Cemex on this transaction, underscoring the significance of the deal in reshaping the company’s market position. The divestment aligns with Cemex’s broader strategy of optimizing its portfolio and investing in high-growth regions, reinforcing its commitment to long-term strategic growth and value creation.
This move highlights Cemex’s ongoing efforts to streamline its operations and focus on core markets, setting the stage for future growth and enhanced competitive positioning.
