Cemex considering Brazil and India entry

Cemex considering Brazil and India entry
20 March 2018

Cemex CEO, Fernando González, said the company is considering entering two new emerging markets, Brazil and India, according to Construction LatinoAmericana.

"We could make acquisitions if they meet the conditions we have set, but if we do not find an attractive option to buy, we will do something else," the executive said, referring to a possible repurchase of shares.

During the Cemex Day 2018, the CEO said that the Board planned to ask shareholders in April to authorise the sale of additional shares and increase the acquisition capital in these cement markets.

The step would mark the cement producer’s first wave of acquisitions after nearly a decade of asset sales to reduce debt and leverage. The company has reduced its debt by US$6bn to US$11.349bn since 2013, bringing down leverage from 5.49 to 3.85.

Published under Cement News

Tagged Under: Cemex market entry Brazil India