===============================================================================
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 13, 2005
CEMEX, S.A. 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 Margain Zozaya #325, Colonia Valle del Campestre
Garza Garcia, Nuevo Leon, Mexico 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
===============================================================================
Contents
1. Press release issued by CEMEX, S.A. de C.V., dated April 26, 2005,
announcing that it has divested its interest in Cementos Bio Bio,
S.A., a cement company in Chile (attached hereto as exhibit 1).
SIGNATURE
Pursuant to the requirements of the Securities Exchange Act of 1934,
CEMEX, S.A. de C.V. has duly caused this report to be signed on its behalf by
the undersigned, thereunto duly authorized.
CEMEX, S.A. de C.V.
--------------------------------------
(Registrant)
Date: May 12, 2005 By: /s/ Rafael Garza
----------------------------------
Name: Rafael Garza
Title: Chief Comptroller
EXHIBIT INDEX
EXHIBIT NO. DESCRIPTION
----------- -----------
1 Press release issued by CEMEX, S.A. de C.V., dated
April 26, 2005, announcing that it has divested its
interest in Cementos Bio Bio, S.A., a cement company in
Chile.
EXHIBIT 1
Media Relations Investor Relations Analyst Relations
Jorge Perez Abraham Rodriguez Ricardo Sales
(52 81) 8888-4334 (52 81) 8888-4262 (212) 317-6008
[OBJECT OMITTED]
CEMEX DIVESTS INVESTMENT IN CEMENTOS BIO BIO, S.A.
MONTERREY, MEXICO, April 26, 2005 - CEMEX, S.A. de C.V. (NYSE: CX) announced
today that it has divested its 11.92% interest in Cementos Bio Bio, S.A. a
cement company in Chile for approximately US$65 million or an implied
enterprise value to EBITDA of nine times. The proceeds from the sale will be
applied towards debt reduction and the extraordinary gains from this
transaction will be reflected in net income. CEMEX acquired this holding for
US$34 million in June 1999.
Rodrigo Trevino, Chief Financial Officer, said: "This transaction is consistent
with our objective to take all the necessary actions to deliver on our
de-levering commitment. As such, we intend to apply as much of our free cash
flow from operations and asset disposals as needed towards debt reduction in
order to achieve our target of 2.7 times net debt to EBITDA by the end of the
year or sooner. The disposal of this non-operating asset will not hinder our
future growth and it will not have an impact in our full year consolidated
revenues or EBITDA."
CEMEX is a growing global building solutions company that provides products of
consistently high quality and reliable service to customers and communities in
more than 50 countries throughout the world. The company improves the
well-being of those it serves through its relentless focus on continuous
improvement and efforts 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.
-- ### --