Florida Firm Announces Divestment Sale to US LBM

Cemex LogoCEMEX USA announced Friday that it has signed an agreement for the sale of its gypsum wallboard business based in Florida to US LBM.

The announcement caps a busy week for US LBM in the news. Earlier in the week, US LBM announced the acquisition of LouMac Distributors, Inc. of Florida and GBS Building Supply of Greenville, S.C..

The proceeds obtained from this most recent transaction, which will not be for a material amount, will be used mainly by CEMEX USA’s affiliates for debt reduction and for general corporate purposes, Friday’s press release states.

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CEMEX USA’s network in the U.S. includes 13 cement plants, approximately 46 strategically located distribution terminals, 74 aggregate quarries and more than 350 ready-mix concrete plants.

The closing of this divestment is subject to the satisfaction of standard conditions for this type of transaction. CEMEX USA currently expects to finalize this transaction at any time prior to the end of 2015.