Cementos Progreso to acquire operations in Costa Rica and El Salvador from CEMEX for $335m.

Cementos Progreso, a manufacturer of cement based in Guatemala, agreed to acquire operations in Costa Rica and El Salvador from CEMEX, a building products company, for $335m. Proceeds from this divestment are expected to be used to fund the company’s bolt-on investment growth strategy in its key markets, reduce debt and other corporate purposes. “This transaction allows us to progress in our portfolio rebalancing objectives, while redeploying resources to fund our growth investments and further deleveraging,” Fernando A. Gonzalez, CEMEX CEO.