MEXICO CITY, MEXICO / ACCESSWIRE / September 27, 2019 / Elementia, S.A.B. de C.V. (BMV: ELEMENT*) (“the Company”, or “Elementia”), announces the sale of its cement assets in Pennsylvania, United States to Lehigh Hanson, Inc., a subsidiary of HeidelbergCement for a gross value of 151 million dollars, free of cash and debt. The assets are part of Elementia’s U.S. cement subsidiary Giant Cement Holding, Inc.
Proceeds from this transaction will be mainly used for debt repayment and general corporate purposes.
The transaction is subject to the approval of anti-trust authorities. The Company will inform the market once it has been received.
Elementia is a unique platform that manufactures and commercializes building materials for the construction industry and adds value to all stages of this industry. The Company has grown, both organically and through strategic mergers and acquisitions, consolidating operations in 9 countries in the Americas, showing strong growth in its Cement business unit, while maintaining its leadership in the Metals business, and through our Building Systems unit, we offer lightweight construction products, which is the main building trend in the market. This has been possible thanks to the passion and dedication of its more than 6,000 employees and the leadership of its main brands, including: Cementos Fortaleza®, Giant®, Keystone® and Dragon®; Nacobre®; Allura®, Mexalit®, Plycem®, Eternit®, Duralit® and Fibraforte®, among others.
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SOURCE: ELEMENTIA, S.A.B. DE C.V.
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