Cemex announced that it has sold its operations in Guatemala to Holcim Group, for a total consideration of approximately US$200m, with the transaction signed and closed 10 September 2024. The divested assets consist of one grinding mill, three ready-mix plants and five distribution centres. As of 31 December 2023, the grinding mill had an installed capacity of around 0.6Mta.
Fernando A González, CEO of Cemex, said, “In 2024 we have accelerated the execution of our portfolio rebalancing strategy with the announced sale of more than US$2bn in assets located primarily in emerging markets. We are now primed for the next stage by redeploying most of the divestment proceeds in developed markets, primarily the US. We expect these efforts to drive sustainable growth for our business in the short and medium term."
The use of divestment proceeds will prioritise aggregates, urbanisation solutions and cement, with a strong focus on lower-carbon and circular economy initiatives, along with other general corporate purposes. The company states that this aligns with its more general growth strategy, which targets bolt-on acquisitions in developed markets. Cemex also believes it has successfully driven incremental EBITDA over the past year by concentrating on markets where it already operates and offers the most growth opportunities.
