CEMEX complete sale of non-core assets in Kentucky
CEMEX have completed the previously-announced sale of seven aggregates quarries, three resale aggregate distribution centres and one concrete block manufacturing facility in Kentucky to Bluegrass Materials Company LLC, a wholly owned subsidiary of Panadero Aggregates Holdings LLC.
These assets involved in the sale were acquired by CEMEX in 2007 as part of the Rinker Group acquisition. However, the facilities and properties were deemed non-core assets for the company’s integrated cement, concrete, aggregates and building materials operations throughout the US.
CEMEX say proceeds from the sale will be used to reduce outstanding debt and to enhance the company’s liquidity position.
Panadero Aggregates Holdings LLC were formed earlier this year by John D. Baker II and Edward L. Baker II, formerly of Florida Rock Industries, to invest in aggregates and other construction materials businesses.
These assets involved in the sale were acquired by CEMEX in 2007 as part of the Rinker Group acquisition. However, the facilities and properties were deemed non-core assets for the company’s integrated cement, concrete, aggregates and building materials operations throughout the US.
CEMEX say proceeds from the sale will be used to reduce outstanding debt and to enhance the company’s liquidity position.
Panadero Aggregates Holdings LLC were formed earlier this year by John D. Baker II and Edward L. Baker II, formerly of Florida Rock Industries, to invest in aggregates and other construction materials businesses.
