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Cemex sells Hungary, Austria units to Strabag for €310 mln

Recycling

Mexican cement giant Cemex on Thursday announced it reached an agreement to sell its units in Hungary and Austria to Austrian construction company Strabag.

The transaction will be closed pending approval by regulatory authorities and Strabag’s supervisory board. Cemex Hungaria, which generated revenue of €61 million in 2007, is Hungary’s second-biggest cement company. It operates 40 finished product plants, five mixing plants and eight quarries. Last year, Cemex set up a service centre in Budapest for the back-office activities of all of its European units. (MTI-Econews)

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