Sources: Cemex S.A.B. de C.V., Monterrey, Mexico; CP staff
Cemex has reached an agreement to sell its Odessa, Texas, cement plant and two terminals, plus El Paso and Las Cruces, N.M., building materials businesses to Grupo Cementos de Chihuahua, S.A.B. de C.V. Absent the $306 million deal are Cemex Colorado assets—Lyons mill, Florence terminal—rounding out an original transaction the companies outlined in May. Subject to competition authority and shareholder approvals, the revised deal will be consummated through Cemex and GCC U.S. affiliates and is projected to close by year end.