Cemex sold its operations in Panama to Grupo Estrella for $200 million

Cemex, the giant cement company, has sold its operations in Panama to Grupo Estrella for $200 million as part of a move to reorganize its operations and focus on strategic markets, including the United States.

Cemex has increased its stake in Couch Aggregates, a company based in the southeast of the United States, to become majority shareholder.

«Estas transacciones representan otro paso importante en nuestra estrategia de optimizar nuestro portafolio actual y continuar invirtiendo en el crecimiento en mercados prioritarios, especialmente agregados en Estados Unidos,» dijo en comunicado Jaime Muguiro, director general de Cemex.

Grupo Estrella, a private industrial group in the Dominican Republic, has acquired a cement plant in Calzada Larga, Chilibre, with an installed cement capacity of roughly 1.2 million metric tons per year, Cemex stated.

Couch Aggregates, based in the United States, supplies sand, gravel, and crushed stone to a variety of markets and has seven sand and gravel quarries as well as five marine ports.