Cemex SAB de CV (ADR)(NYSE:CX) reported that it has participated in the construction of the Volcano Bay Water Theme Park, offering specialty concrete mixes of over 10,000 cubic meters. For the centerpiece of the water park, a hand-carved concrete volcano filled with waterslides, the company offered sprayed concrete of around 2,500 cubic meters. It is a unique mix of waterproofing admixture and corrosion inhibitor intend to endure the wear and tear of the structure’s fire and water features.
The construction involved gushing concrete at a high velocity onto the rebar and mesh structure of the volcano. It was later carefully hand-sculpted and painted to provide it the appearance of rock.
Keith Stewart, the Senior Account Manager for company in Orlando, expressed that to complete this assignment, they used three facilities 24*7. One plant ran waterproofing and corrosion inhibitor, while another ran a third handled white concrete and color. To create the park’s matched beach walkways, pool entries and paths, Cemex supplied tailor-made concrete, assorted with specialty colors counting 200 tons of white cement.
In unrelated news, Cemex reported that it has sold about 31.483 million shares of GCC, which represents approximately 9.47% of the total equity capital of GCC. Sale proceeds amounted to around U.S.$168 million, and these funds are anticipated to be used primarily for debt reduction.
The company has an around 20% indirect interest in GCC via CAMCEM, S.A. de C.V. It is a firm that owns a prime interest in GCC and also in which CEMEX has an interest. Cemex reported that this sale of the GCC Shares included the remainder of its direct interest in GCC which was kept by the company with itself in February 2017. It was made in the terms of company’s previously stated international asset divestiture plans. Pertaining to the offering, Cemex finalized forward contracts on the equity price of GCC with two different financial institutions.