Cementos Blancos leases Azuara plant to Cemex, Spain

Spanish cement producer Cementos Blancos de Aragon (CBA) has signed an agreement to lease its plant in Azuara to Cemex, according to local press reports.

Through the move, CBA aims to repay EUR30m syndicated loan to a pool of banks including La Caixa Banco Popular and Banco Sabadell.

Cemex, meanwhile, intends to relocate the plant’s equipment to its other production facilities in Spain, sources told Cinco Dias.

The newspaper also reported that Cemex is set to announce this week a downsizing plan for all 21 employees at the plant.