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: January 4, 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
|
CEMEX
enters into definitive agreement with Ready Mix USA
to contribute and sell additional assets to joint venture
to contribute and sell additional assets to joint venture
HOUSTON,
TX, January 2, 2008 -
CEMEX, Inc., the U.S. subsidiary of CEMEX, S.A.B. de C.V. (NYSE: CX), announced
today that it has entered into a definitive agreement with Ready Mix USA,
Inc.,
a private ready-mix concrete company with operations in the Southeastern
United
States, to expand the scope of their ready-mix joint venture formed in July
2005, as was previously announced. The transaction, which remains subject
to the
satisfaction of certain conditions, is expected to close on January 12,
2008.
Upon
closing, CEMEX will contribute assets valued at approximately $260 million
to
the joint venture and will sell additional assets to the joint venture for
approximately $120 million in cash. As part of the transaction, Ready Mix
USA
will make a $125 million cash contribution to the joint venture and CEMEX
will
receive a $135 million capital distribution funded from additional borrowings
of
the joint venture. As previously announced, Ready Mix USA will manage all
the
newly acquired assets and, following the transaction, the joint venture will
continue to be owned 50.01% by Ready Mix USA and 49.99% by CEMEX.
CEMEX
will use the proceeds of the sale of these assets to reduce debt. The 2006
EBITDA for the operations involved was approximately $47 million.
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, weather conditions, 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 derived from 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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January
4, 2008
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By:
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/s/ Rafael Garza Lozano |
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| Name: |
Rafael
Garza Lozano
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Title:
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Chief
Comptroller
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