|
contents | business | |||||||||
| Cemex sells operations in Australia to Swiss Holcim Mexican cement giant Cemex announced that it has reached an agreement to sell its Australian operations to the world number-two cement maker Holcim Group for approximately A$2.02 billion. Cemex is one of the leading producers of aggregates, ready-mix concrete and concrete pipe in Australia. The assets to be divested consist of 249 ready-mix concrete plants, 83 aggregates quarries and 16 concrete pipe and products plants - a total of 348 facilities located throughout Australia. These operations generated revenues and EBITDA in 2008 of approximately A$1.86 billion and A$313 million, respectively. The sale also includes Cemex's 25% stake in Cement Australia. Cement Australia's has an annual production capacity of 5.1 million tons of cement, including the expansion under construction in the Gladstone plant, and its assets include four cement plants and one grinding mill. write your comments about the article :: © 2009 Construction News :: home page |