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Cemex Sells Kentucky Aggregate, Concrete Block Assets


Cemex completed the sale of seven aggregates quarries, three resale aggregate distribution centers, and one concrete block manufacturing facility in Kentucky to Bluegrass Materials Co.

Cemex completed the sale of seven aggregates quarries, three resale aggregate distribution centers, and one concrete block manufacturing facility in Kentucky to Bluegrass Materials Co.

These assets were acquired by Cemex in 2007 as part of the Rinker Group acquisition. The facilities and properties were deemed noncore assets for Cemexís integrated cement, concrete, aggregates and building materials operations throughout the United States.
Proceeds from the sale, $90 million, will be used to reduce its outstanding debt or to enhance its liquidity position.

Bluegrass Materials is a wholly owned subsidiary of Panadero Aggregates Holdings. Panadero was formed in 2010 by John D. Baker II and Ted L. Baker II, formerly of Florida Rock Industries, to invest in aggregates and other construction materials businesses.