October 2, 2019
Mexico's Elementia said it has agreed to sell cement assets in Pennsylvania to Lehigh Hanson, a subsidiary of Germany's HeidelbergCement, for $151m.
The Mexico City-based cement company will use part of the proceeds to pay off short-term debt, it said in a statement. The assets are part of Elementia's US cement business, Giant Cement, it added.
Elementia paid $220m for 55% of Giant Cement and extended a $305m loan to the South Carolina-based company in December 2016.
In April this year, Elementi
Mexican cement company raises $151m to pay off debt in a deal with Germany's HeidelbergCement