About Us - Press Release - CEMEX and LAFARGE terminate joint ventures in Spain and Portugal
December 22, 2005
CEMEX announced today that it has terminated its 50/50 ventures with LAFARGE in READYMIX ASLAND S.A. (RMA) in Spain and Betecna Betao Pronto S.A. (BETECNA) in Portugal after receiving regulatory approval from the relevant competition authorities. CEMEX's and LAFARGE's intent to end their participation in the ventures was originally announced in November.
According to the terms of the agreement, in addition to receiving approximately € 50 M in cash, CEMEX also receives 29 concrete plants and 5 aggregate quarries from RMA in Spain The addition of one other aggregate quarry, which would bring the total to 6, remains subject to local regulatory approval.
As a result of the termination of the joint ventures, LAFARGE holds 100% of the shares of both RMA and BETECNA.
CEMEX is a growing global building solutions company that provides products of consistently high quality and reliable service to customers and communities in more than 50 countries throughout the world. The company improves the well-being of those it serves through its relentless focus on continuous improvement and efforts to promote a sustainable future. For more information, visit www.cemex.com