UNITED
STATES
SECURITIES
AND EXCHANGE COMMISSION
Washington,
D.C. 20549
_______________________
FORM
6-K
REPORT
OF FOREIGN PRIVATE ISSUER PURSUANT TO RULE 13a-16 or 15d-16
UNDER
THE SECURITIES EXCHANGE ACT OF 1934
_______________________
Date
of Report: May 7, 2008
CEMEX, S.A.B. de
C.V.
(Exact
name of Registrant as specified in its charter)
CEMEX Corp.
(Translation
of Registrant's name into English)
United Mexican
States
(Jurisdiction
of incorporation or organization)
Av.
Ricardo Margáin Zozaya #325, Colonia Valle del Campestre
Garza
García, Nuevo León, México 66265
(Address
of principal executive offices)
Indicate
by check mark whether the registrant files or will file annual reports under
cover Form 20-F or Form 40-F.
Form
20-F X Form 40-F
___
Indicate
by check mark whether the registrant by furnishing the information contained in
this Form is also thereby furnishing the information to the Commission pursuant
to Rule 12g3-2(b) under the Securities Exchange Act of 1934.
Yes
____
No X
If
"Yes" is marked, indicate below the file number assigned to the registrant in
connection with Rule 12g3-2(b):
N/A
|
Media
Relations
Jorge
Pérez
(52-81)
8888-4334
|
Investor
Relations
Eduardo
Rendón
(52-81)
8888-4256
|
Analyst
Relations
Luis
Garza
(52-81)
8888-4136
|
CEMEX EXPLORING SALE OF
ASSETS
MONTERREY, MEXICO, May 06, 2008
– CEMEX, S.A.B. de C.V. (NYSE: CX), announced today that it is exploring
the sale of select assets.
The
assets being considered for sale include operations in Austria, Hungary and
select building products in the United Kingdom. CEMEX has mandated Morgan
Stanley as its financial advisor in connection with the sales process in Austria
and Hungary and Citigroup for the UK sales process.
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·
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The
Austrian operations consist of 26 aggregate plants (7.1 million metric
tons of volume sold in 2007) and 39 ready-mix plants (2.0 million cubic
meters of volume sold in 2007). These assets generated revenues of
approximately US$274 million in
2007.
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|
·
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The
Hungarian assets are comprised of 5 aggregate plants (1.8 million metric
tons of volume sold in 2007), 31 ready-mix plants (0.8 million cubic
meters of volume sold in 2007) and 5 paving stone plants. 2007 revenues
were approximately US$84 million from these
assets.
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·
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The
UK assets include the Floors, Roof Tiles and the Rail Products businesses,
which generated combined sales of approximately US$98 million in
2007.
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The
proceeds from the potential assets sale will be used for debt
reduction.
Specific
information related to the sales processes in Austria and Hungary can be
obtained from Morgan Stanley; Mr. Johannes Solich (44-20-7425-5668,
johannes.solich@morganstanley.com).
Specific
information related to the sales process in the UK can be obtained from
Citigroup; Mr. Jan Skarbek (44-20-7986-7573, jan.skarbek@citi.com).
CEMEX
is a growing global building materials company that provides high-quality
products and reliable service to customers and communities in more than 50
countries throughout the world. CEMEX has a rich history of improving the
well-being of those it serves through its efforts to pursue innovative industry
solutions and efficiency advancements and to promote a sustainable future. For
more information, visit www.cemex.com.
###
This
press release contains forward-looking statements and information that are
necessarily subject to risks, uncertainties, and assumptions. Many factors could
cause the actual results, performance, or achievements of CEMEX to be materially
different from those expressed or implied in this release, including, among
others, changes in general economic, political, governmental and business
conditions globally and in the countries in which CEMEX does business, changes
in interest rates, changes in inflation rates, changes in exchange rates, the
level of construction generally, changes in cement demand and prices, changes in
raw material and energy prices, changes in business strategy, and various other
factors. Should one or more of these risks or uncertainties materialize, or
should underlying assumptions prove incorrect, actual results may vary
materially from those described herein. CEMEX assumes no obligation to update or
correct the information contained in this press release.
EBITDA
is defined as operating income plus depreciation and amortization. Free Cash
Flow is defined as EBITDA minus net interest expense, maintenance and expansion
capital expenditures, change in working capital, taxes paid, and other cash
items (net other expenses less proceeds from the disposal of obsolete and/or
substantially depleted operating fixed assets that are no longer in operation).
Net debt is defined as total debt minus the fair value of cross-currency swaps
associated with debt minus cash and cash equivalents. The net debt to EBITDA
ratio is calculated by dividing net debt at the end of the quarter by EBITDA for
the last twelve months. All of the above items are presented under generally
accepted accounting principles in Mexico. EBITDA and Free Cash Flow (as defined
above) are presented herein because CEMEX believes that they are widely accepted
as financial indicators of CEMEX's ability to internally fund capital
expenditures and service or incur debt. EBITDA and Free Cash Flow should not be
considered as indicators of CEMEX's financial performance, as alternatives to
cash flow, as measures of liquidity or as being comparable to other similarly
titled measures of other companies.
SIGNATURE
Pursuant
to the requirements of the Securities Exchange Act of 1934, CEMEX, S.A.B. de
C.V. has duly caused this report to be signed on its behalf by the undersigned,
thereunto duly authorized.
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CEMEX,
S.A.B. de C.V.
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(Registrant)
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Date:
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May
7, 2008
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By:
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/s/
Rafael Garza
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Name:
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Rafael
Garza
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||||
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Title:
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Chief
Comptroller
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