OREANDA-NEWS. CEMEX, S.A.B. de C.V. (“CEMEX”) (NYSE: CX) announced today that it has signed an agreement for the sale of its operations in Bangladesh and Thailand to SIAM CITY CEMENT PUBLIC COMPANY LIMITED for approximately U.S.$53 million.

The proceeds obtained from this transaction will be used mainly for debt reduction and for general corporate purposes.

The closing of this agreement is subject to the satisfaction of standard conditions for this type of transactions. We currently expect to finalize this divestiture during the second quarter of 2016.

CEMEX is a global building materials company that provides high-quality products and reliable services to customers and communities in more than 50 countries. CEMEX has a rich history of improving the well-being of those it serves through innovative building solutions, efficiency advancements, and efforts to promote a sustainable future.