Cemex focuses on China and India

Cemex focuses on China and India
12 October 2004

Barely two weeks have passed since Mexican cement company Cemex reported the it had just finalized the largest acquisition in its history which dates back to 1992, however, the firm’s expansion plans seem to know no end.

"There are many other countries in which we know that sooner or later we will be operating, such as India, China and even Russia," said Lorenzo Zambrano, president and general director of the firm.

On September 17, Cemex announced the agreement to acquire the British firm RMC Group in an operation valued at US$5.8 billion, the largest amount shelled out by a Mexican company ever. Nevertheless, the operation-which will be closed before the end of the year-was criticized by analysts as the operation is to be totally financed through loans.

Zambrano said that in one more year doubts will disappear.

He also did not rule out the possibility that after the 18-month integration process between Cemex and RMC Group, the Mexican firm could continue acquiring other companies.

Published under Cement News