Cemex to Sell $555 Million of Colombia Assets to Holcim, Others

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Cemex SAB is selling about $555 million worth of Colombian assets to Holcim Ltd. and other third parties in a push to focus efforts on its core markets of the US, Mexico and Europe.

Monterrey-based Cemex is selling a large portfolio of Colombian cement assets that includes its Caracolito cement plant and Santa Rosa grinding mill to Holcim for $485 million, the company said in a statement. Cemex is also in negotiations with third parties for the sale of other operations that were not included in the deal with Holcim for an additional $70 million, the company added.

Cemex is looking for deals in the US and Europe after chipping away at its debt and restoring its investment grade status with S&P Global Ratings in 2024. The company has also embarked on an extensive cost-cutting program and raised prices in key markets.

Last year, Bloomberg News reported that Cemex was seeking to sell its Colombian assets and that Holcim and Cementos Molins of Spain were potential suitors.

Cemex will retain the Maceo and Cúcuta cement plants in Colombia, with a total installed capacity of 1.6 million tons per year, as well as the Clemencia grinding mill and other operations, the company said.

The deal with Holcim, the world’s largest cement maker, is expected to close by the end of the year following regulatory approvals.

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