Cementos Progreso to acquire the Dominican Republic business of Cemex for $950m.

Cementos Progreso, a building materials firm, agreed to acquire the Dominican Republic business of Cemex, a Mexican multinational building materials company, for $950m. “This transaction advances us significantly in our portfolio rebalancing strategy which is focused on reducing our exposure in Emerging Markets and redeploying capital into growth investments in priority markets, primarily the US,” Fernando A. Gonzalez, Cemex CEO.