UNITED
STATES
SECURITIES
AND EXCHANGE COMMISSION
Washington,
D.C. 20549
FORM
6-K
REPORT
OF FOREIGN PRIVATE ISSUER PURSUANT TO RULE 13a-16 or 15d-16
UNDER
THE SECURITIES EXCHANGE ACT OF 1934
Date
of Report: February 22, 2010
CEMEX, S.A.B. de
C.V.
(Exact
name of Registrant as specified in its charter)
CEMEX Publicly Traded Stock
Corporation
(Translation
of Registrant's name into English)
United Mexican
States
(Jurisdiction
of incorporation or organization)
Av.
Ricardo Margáin Zozaya #325, Colonia Valle del Campestre
Garza García, Nuevo León,
México 66265
(Address
of principal executive offices)
Indicate
by check mark whether the registrant files or will file annual reports under
cover Form 20-F or Form 40-F.
Form
20-F X Form
40-F ___
Indicate
by check mark whether the registrant by furnishing the information contained in
this Form is also thereby furnishing the information to the Commission pursuant
to Rule 12g3-2(b) under the Securities Exchange Act of 1934.
Yes ___ No X
If
"Yes" is marked, indicate below the file number assigned to the registrant in
connection with Rule 12g3-2(b):
N/A
|
Media
Relations
Jorge
Pérez
(52-81)
8888-4334
mr@cemex.com
|
Investor
Relations
Eduardo
Rendón
(52-81)
8888-4256
ir@cemex.com
|
Analyst
Relations
Luis
Garza
(52-81)
8888-4136
ir@cemex.com
|
CEMEX
TO RECEIVE U.S.$100 MILLION IN CASH
PROCEEDS
FROM JOINT VENTURE ASSET SALE IN THE U.S.
Monterrey, Mexico, February 22, 2010
– CEMEX, S.A.B. de C.V. (NYSE: CX) announced today that its 49.9% owned
Ready Mix USA LLC joint venture has completed the sale of 12 active quarries and
certain other assets to SPO Partners & Co. for U.S.$420 million. The active
quarries, which consist of 2 granite quarries in Georgia, 9 limestone quarries
in Tennessee, and 1 limestone quarry in Virginia, are operated by Ready Mix USA
LLC and were deemed non strategic by CEMEX and Ready Mix USA LLC, its joint
venture partner.
The
proceeds from the sale will be partly used to reduce debt held by Ready Mix USA
LLC, and to effect a cash distribution of approximately U.S.$100 million to each
joint venture partner, including CEMEX. CEMEX, which does not consolidate the
results of Ready Mix USA LLC, expects to use its cash proceeds from this
divestment to reduce outstanding debt and to enhance its liquidity
position.
This
asset divestment marks another milestone in CEMEX’s efforts to regain its
financial flexibility. Other such milestones include the completion of the
refinancing of U.S.$15 billion of CEMEX’s outstanding debt and the issuance of
close to U.S.$2.3 billion in notes, including the U.S.$500 million raised last
month. Additionally, CEMEX has raised U.S.$2.2 billion in equity and mandatorily
convertible securities and sold its Australian operations to Holcim for U.S.$1.7
billion.
CEMEX
is a global building materials company that provides high-quality products and
reliable service to customers and communities in more than 50 countries
throughout the world. CEMEX has a rich history of improving the well-being of
those it serves through its efforts to pursue innovative industry solutions and
efficiency advancements, and to promote a sustainable future. For more
information, visit www.cemex.com.
SPO
Partners & Co. is a San Francisco-based investment partnership that makes
concentrated, long-term investments in public and private companies. Investing
with a time horizon that frequently exceeds ten years, SPO invests across a wide
range of industries including basic materials, media, telecom, energy, power and
real estate.
###
This
press release contains forward-looking statements and information that are
necessarily subject to risks, uncertainties, and assumptions. Many factors could
cause the actual results, performance,
or achievements of CEMEX to be materially different from those expressed or
implied in this release, including, among others, changes in general economic,
political, governmental and business conditions globally and in the countries in
which CEMEX does business, changes in interest rates, changes in inflation
rates, changes in exchange rates, the level of construction generally, changes
in cement demand and prices, changes in raw material and energy prices, changes
in business strategy, and various other factors. Should one or more of these
risks or uncertainties materialize, or should underlying assumptions prove
incorrect, actual results may vary materially from those described herein. CEMEX
assumes no obligation to update or correct the information contained in this
press release.
SIGNATURE
Pursuant
to the requirements of the Securities Exchange Act of 1934, CEMEX, S.A.B. de
C.V. has duly caused this report to be signed on its behalf by the undersigned,
thereunto duly authorized.
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CEMEX, S.A.B. de C.V.
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(Registrant)
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Date:
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February 22, 2010
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By:
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/s/ Rafael Garza
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Name:
Rafael Garza
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Title:
Chief Comptroller
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