Cemex to unload Rinker pipe and precast business in $500M Quikrete deal
- Published: Tuesday, 29 November 2016 09:54
- Written by Concrete News
Sources: Cemex S.A.B. de C.V., Monterrey, Mexico; CP staff
Cemex is on track to unload in early 2017 a major non-core U.S. asset: the Rinker Materials concrete pipe and precast business. Under a definitive agreement announced November 28, the producer will sell the entity to Atlanta-based Quikrete Holdings Inc. for about $500 million, plus an additional $40 million depending on future performance.