|Rogelio Zambrano Lozano|
Fernando A. González
|Products||cement, ready-mix concrete, construction aggregates|
|Revenue||US$ 18 billion (2016)|
|US$ 800 million (2016)|
CEMEX S.A.B. de C.V., known as Cemex, is a Mexican
CEMEX currently operates on four continents, with 66 cement plants, 2,000 ready-mix-concrete facilities, 400 quarries, 260 distribution centers and 80 marine terminals. The company's world
CEMEX was founded with the opening of Cementos Hidalgo, in 1906. Meanwhile, Cementos Portland Monterrey began operations in 1920, and in 1931, the two companies merged, becoming Cementos Mexicanos, now CEMEX. In the 1960s, CEMEX grew significantly when it acquired several more plants throughout Mexico. In 1976, the company went public on the Mexican stock exchange, and that same year, became the largest cement producer in Mexico with the purchase of three plants from Cementos Guadalajara. In 1982, the company made significant progress in overseas markets, doubling its exports. Further acquisitions of Mexican cement companies were made in 1987 and 1989, making CEMEX one of the ten largest cement companies in the world.
In 2004, CEMEX received the Wharton Infosys Business Transformation Award for their creative and efficient use of information technology.
In 1992, CEMEX began its push into the international landscape with the purchase of Spain's two largest cement companies, Valenciana de Cementos (Valcem, currently head of CEMEX Spain) and Cementos SANSON.
On March 1, 2005, CEMEX completed its $5.8 billion acquisition of the London-based
On October 27, 2006, CEMEX announced a US$12.8 billion offer to acquire all of the outstanding shares of
In November 2006, an American embassy cable released via
Shortly after the apparent finalization of the Rinker deal on 2007, the United States Department of Justice brought an antitrust lawsuit against CEMEX, blocking the acquisition. After a lengthy process, CEMEX complied with regulators by divesting (selling) 40+ cement and concrete plants formerly part of itself or Rinker, essentially devaluing the initial deal.
In April 2008, the President of
After having problems with the Mexican peso devaluation of 2008, including problems with derivatives, CEMEX had to rethink its international standings to decrease debt and avoid a default. In June 2009, CEMEX sold its Australian operations to
In December 2010, DOL Resolves Employee Back Wage Case With CEMEX – The U.S. Department of Labor announced the filing of a consent judgment in a case against CEMEX Inc. and the recovery of $1,514,449 in overtime back wages for 1,705 current and former ready-mix drivers who worked in eight states.
In February 2018, the company reported record earnings of $750 million for all of 2016, the highest in a decade. Lowering company debt after recent acquisitions were a main cause of the company's financial performance.