Cemex Dominicana expects demand to fall 16% in 2009

Cemex Dominicana expects demand to fall 16% in 2009
Published: 05 December 2008

The Dominican Republic branch of Mexican cement manufacturer Cemex announced that local demand will fall 16% in 2009 as a consequence of the global economic crisis, paper Listín reported.

The firm also expects growth in the local construction sector to fall from 2% to negative 4%, Cemex Dominicana CEO Carlos Jacks was quoted as saying.

Jacks added that national cement consumption will see a drastic decrease in 2009, falling to 2879t from 3441t in 2008.

The construction sector, the country’s main cement consumer, accounts for 4.2% of the country’s GDP and is expected to grow 3.2% in 2008, compared to 2007.