MONTERREY, Mexico--(BUSINESS WIRE)--CEMEX, S.A.B. de C.V. (NYSE: CX) announced today that one of its subsidiaries in the U.S. has closed the divestment of its Pacific Northwest Materials Business consisting of aggregate, asphalt and ready mix concrete operations in Oregon and Washington to Cadman Materials, Inc., part of Lehigh Hanson, Inc. and the U.S. subsidiary of HeidelbergCement Group, for approximately U.S. $150 million.
The proceeds obtained from this transaction will be used mainly for debt reduction and for general corporate purposes.
Bank of America Merrill Lynch and Citigroup Global Markets Limited acted as financial advisors to CEMEX in this transaction.
CEMEX is a global building materials company that provides high-quality products and reliable services to customers and communities in more than 50 countries. CEMEX has a rich history of improving the well-being of those it serves through innovative building solutions, efficiency advancements, and efforts to promote a sustainable future.