CEMEX Divests Its Assets in Panama, Focuses on US Expansion

Mexico-based leading concrete and cement company CEMEX announced it divested its operations in Panama. The company said the move is part of its strategy to divest from non-profitable markets and focus on prioritary ones, such as the United States.

CEMEX announced it sold its operations in Panama to Grupo Estrella for approximately US$200 million. In a parallel move, the company also increased its holdings to a majority stake in Couch Aggregates, a leading aggregates producer in Southeastern United States.

The company said this is part of the company's strategy to rebalance its portfolio. A small part of the proceeds from the divestiture is being allocated to the Couch Aggregates transaction. CEMEX stated that in the short term, this new investment will offset the loss of EBITDA from the Panama sale. “These transactions are important building blocks in our strategy to rebalance our portfolio and continue investing in growth in priority markets, particularly aggregates in the United States,” said Jaime Muguiro, CEO, CEMEX.

The assets acquired by the Dominican industrial conglomerate Grupo Estrella consist mainly of one cement plant with an installed capacity of around 1.2Mt/y, as well as related cement, ready-mix concrete, and aggregates assets. CEMEX will retain its admixtures business in Panama.

The investment in Couch Aggregates expands on a joint venture that was originally announced in July 2024. The company operates seven sand and gravel pits and five marine terminals across Southeastern United States.