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News Cementos Progreso to acquire Cemex’s assets in Costa Rica and El Salvador

Cementos Progreso to acquire Cemex’s assets in Costa Rica and El Salvador

Written by Global Cement Staff 04 January 2022
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Costa Rica/El Salvador: Cementos Progreso has agreed to acquire Cemex’s Costa Rican and El Salvadorian assets for US$335m. The divested assets consist of an integrated cement plant, a cement grinding plant, seven ready-mix concrete plants, an aggregate quarry and one terminal in Costa Rica. An additional terminal is also being sold in El Salvador. The transaction is expected to be completed in the first half of 2022 subject to approval by the relevant competition authorities.

Cemex’s chief executive officer (CEO) Fernando Gonzalez said “This transaction allows us to progress in our portfolio rebalancing objectives, while redeploying resources to fund our growth investments and further deleveraging.”

Last modified on 05 January 2022
Published in Global Cement News
Tagged under
  • Costa Rica
  • El Salvador
  • Cementos Progreso
  • Cemex
  • Cemex Latam Holdings
  • Acquisition
  • Assets
  • business
  • Strategy
  • Divestments
  • GCW538

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