CEMEX explores sale of its Australian concrete pipes and products assets
MONTERREY, MEXICO, August 2008 - CEMEX, S.A.B. de C.V. (NYSE: CX), announced today that it is exploring the sale of certain assets in Australia. The proceeds from the potential asset sale will be used for debt reduction.
The assets being considered for sale operate under the Humes brand name and consist of 16 concrete pipes and products manufacturing facilities located throughout Australia. Humes sold over 580,000 tonnes of product in 2007, generating revenues of approximately A$255 million (US$234 million).
CEMEX has mandated Merrill Lynch as its financial advisor in connection with the sales process.
Specific information related to the sale process in Australia can be obtained from Merrill Lynch; Mr. Gautam Chari (+61-2-9226-5306 email: firstname.lastname@example.org).
CEMEX is a growing global building materials company that provides high-quality products and reliable service to customers and communities in more than 50 countries throughout the world. CEMEX has a rich history of improving the well-being of those it serves through its efforts to pursue innovative industry solutions and efficiency advancements and to promote a sustainable future. For more information, visit www.cemex.com.
This press release contains forward-looking statements and information that are necessarily subject to risks, uncertainties, and assumptions. Many factors could cause the actual results, performance, or achievements of CEMEX to be materially different from those expressed or implied in this release, including, among others, changes in general economic, political, governmental and business conditions globally and in the countries in which CEMEX does business, changes in interest rates, changes in inflation rates, changes in exchange rates, the level of construction generally, changes in cement demand and prices, changes in raw material and energy prices, changes in business strategy, and various other factors. Should one or more of these risks or uncertainties materialize, or should underlying assumptions prove incorrect, actual results may vary materially from those described herein. CEMEX assumes no obligation to update or correct the information contained in this press release.
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