CEMEX increases ownership stake in cement company
In 2018, the company agreed to increase its ownership interest in Lehigh White Cement Company (Lehigh White) from 24.5% to 36.8%, purchasing shares from majority owner HeidelbergCement. The move was valued at approximately $34.0 million. Lehigh White manufactures white cement in the United States and has bolster CEMEX’s industry-specific performance in the United States since the end of 2018, when the transaction finalized.
New Activity|Discontinued ActivityIn response to volatile demand in the wake of the first COVID-19 surge, the company undertook a comprehensive cost reduction program, aimed at shoring up labor and supply costs.
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