Cemex suspends EUR400m investment

Cemex suspends EUR400m investment
Published: 05 December 2008

Cemex has decided to suspend its EUR400m investment project in Poland and is planning to conduct cutbacks in its Polish factories.

"We have no guarantee that the investment in our factory in Rudniki will be profitable. In 2008, the demand for cement in Poland stopped growing and the situation is unlikely to change in the near future," says Cemex Polska CEO Luis Miguel Cantu.

According to estimates, in 2009 cement sales in Poland will rise only 1.5 per cent. As for Cemex’s investment in Rudniki, the project was to result in a fourfold increase in the facility’s production capacity.

According to analysts, in 2009 Cemex’s situation may become even worse due to the expected sharp increase in energy and aggregate prices.