Advertisement
Singapore markets closed
  • Straits Times Index

    3,224.01
    -27.70 (-0.85%)
     
  • S&P 500

    5,248.49
    +44.91 (+0.86%)
     
  • Dow

    39,760.08
    +477.75 (+1.22%)
     
  • Nasdaq

    16,399.52
    +83.82 (+0.51%)
     
  • Bitcoin USD

    70,641.50
    +466.48 (+0.66%)
     
  • CMC Crypto 200

    885.54
    0.00 (0.00%)
     
  • FTSE 100

    7,952.37
    +20.39 (+0.26%)
     
  • Gold

    2,208.80
    +18.20 (+0.83%)
     
  • Crude Oil

    82.42
    +1.07 (+1.32%)
     
  • 10-Yr Bond

    4.1960
    0.0000 (0.00%)
     
  • Nikkei

    40,168.07
    -594.66 (-1.46%)
     
  • Hang Seng

    16,541.42
    +148.58 (+0.91%)
     
  • FTSE Bursa Malaysia

    1,530.60
    -7.82 (-0.51%)
     
  • Jakarta Composite Index

    7,288.81
    -21.28 (-0.29%)
     
  • PSE Index

    6,903.53
    +5.36 (+0.08%)
     

Mexico's Cemex to sell Thai, Bangladesh operations

Mexico's Cemex, one of the world's biggest cement companies, announced Thursday that it will sell its operations in Bangladesh and Thailand to a Thai firm for $53 million.

The proceeds of the sale to Siam City Cement Public Company Limited will be mainly used to reduce debt and for general corporate purposes, Cemex said in a statement.

Cemex, which employs 43,000 people in more than 50 countries, expects to finalize the divestiture in the second quarter.

The Mexican company, which was badly hit by the 2008 real estate crisis in the United States, returned to profit for the first time in six years in 2015, reporting net income of $75 million.