Santo Domingo.- Cemex has sold 100% of its operations in the Dominican Republic to Cementos Progreso Holdings, SL, through its subsidiaries and in partnership with Dominican and regional partners. This transaction also includes Cemex’s Haitian export business, expanding Cementos Progreso’s footprint to eight Latin American and Caribbean countries.
Among the Dominican strategic partners involved are the Closed Fund for the Development of Companies managed by AFI Popular, a subsidiary of Grupo Popular, and the Closed Investment Fund for Universal Development I managed by AFI Universal, a subsidiary of Grupo Universal, along with other regional investors.
The acquired operations in the Dominican Republic include a cement plant with two integrated production lines, as well as related cement, concrete, and aggregates assets, and marine terminals, according to a press release.
José Raúl González, executive director of Progreso, stated, “We are excited to continue implementing our expansion strategy, which makes us even more committed to the development of the countries where we operate.”
The official closing of this transaction and the integration process will be subject to the necessary approvals and customary requirements for such deals.
“We remain committed to operating responsibly and working with our customers, suppliers, communities, and government to generate economic, social, and environmental value,” González concluded.