Sources: Cemex S.A.B. de C.V., Monterrey, Mexico
In an upbeat second quarter earnings report, Cemex assures investors that asset prioritizing and debt reduction are top of mind. “With the objective of accelerating our path to investment grade and enhancing total shareholder return, we are announcing ‘A Stronger Cemex,’” says Chief Executive Fernando Gonzalez. “During the next 2.5 years, we will work to optimize our portfolio by focusing on markets with the greatest long-term growth potential and selling between $1.5 billion and $2 billion of assets.
Sources: Sika AG, Baar, Switzerland; CP staff
The Swiss parent of Sika Corp. has settled a three-and-half-year legal dispute with glass and building materials giant Saint-Gobain of France through transactions involving founding family members’ shares, plus proposed board measures altering governance and share classes.
Sources: Martin Marietta Materials, Raleigh, N.C.; U.S. Department of Justice Antitrust Division; CP staff
Five months of shareholder guidance and regulatory review appear to have gone according to script for Martin Marietta, which is on track to promptly consummate a merger positioning it as the largest U.S.-based aggregate, cement and ready mixed producer.