cemex6k5-7.htm
 
 
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.

·  
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.

·  
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.

·  
The UK assets include the Floors, Roof Tiles and the Rail Products businesses, which generated combined sales of approximately US$98 million in 2007.

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.
 
 
   
CEMEX, S.A.B. de C.V.
   
(Registrant)
     
     
Date:
May 7, 2008
  
By:
/s/ Rafael Garza
     
Name:
Rafael Garza
     
Title:
Chief Comptroller