Cemex sells Austria, Hungary cement operations
Mexican company reducing debt, Rohrdorfer in German picks up both for $179 million.
MEXICO CITY — Mexican cement giant CEMEX S.A. says it’s agreed to sell its operations in Austria and Hungary to the Germany’s Rohrdorfer Group for about $179 million.
The Austrian operations include 24 gravel quarries and 34 cement plants with sales of about $241 million in 2014.
In Hungary, the operations include five gravel quarries and 34 ready-mix plants with sales of about $47 million in 2014.
Cemex said that “proceeds obtained from this transaction will be used mainly for debt reduction.”
Cemex went on an acquisition spree in the 2000s that left it heavily indebted and has since been divesting itself of properties.