Cemex completes sale of assets

Cemex SAB, which has cement, concrete, aggregates and building materials operations throughout the United States, has completed the sale of some of its assets to Bluegrass Materials Co.The company sold seven aggregates quarries, three resale aggregate distribution centers and one concrete block...

Cemex SAB, which has cement, concrete, aggregates and building materials operations throughout the United States, has completed the sale of some of its assets to Bluegrass Materials Co.

The company sold seven aggregates quarries, three resale aggregate distribution centers and one concrete block manufacturing facility in Kentucky to Bluegrass.

Cemex said it acquired these assets in 2007 and they were deemed noncore. It did not disclose the value of the deal but said it will put the proceeds toward reducing its debt and improving its cash position.

Shares of Cemex rose 16 cents, about 2 percent, to $7.88 in afternoon trading.

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