Cemex subsidiary to enter Chinese market

Cemex's venture capital unit has announced that it will be entering the Chinese market through a partnership with Glodon, a local provider of digital platform services for the industry, and Interdream Ventures, a venture capital firm seeking to digitise the construction and decoration industries.

"This type of alliance between two joining segments is key to finding new successful business models and operating in the Chinese market," said Juan Nieto, Cemex Ventures' representative in Asia. "Glodon and Interdream Ventures also have a complete view of the entire value chain and are good partners in driving the construction revolution."

Through the agreement, the company is seeking to establish relationships with start-ups and other companies in China. As yet, Cemex’s main business does not currently have a presence in the local market.