Back in 2004, I found this article concerning Cemex buying British Cement companies.

https://www.nytimes.com/2004/09/28/business/worldbusiness/cemex-of-mexico-to-buy-british-concrete-maker.html

Cemex of Mexico to Buy British Concrete Maker

LONDON, Sept. 27 - The Mexican cement company Cemex said Monday that it would buy a British concrete maker, the RMC Group, for £2.3 billion ($4.2 billion), to expand in Europe and increase its product line.

The cash deal values RMC at £8.55 ($15.39) a share, 43 percent higher than the company's closing price on Friday. Cemex would also take on about $1.6 billion of RMC's debt.

"This is the right acquisition at the right time for Cemex," said Lorenzo H. Zambrano, chairman and chief executive of Cemex, in a conference call with analysts on Monday. The combination of the two companies "will result in an integrated group with more stable cash flow and a lower cost of capital," Mr. Zambrano said, adding that it would give Cemex "scale and global reach to compete effectively" and profitably.

>>1629884

Cemex, which is based in Monterrey, Mexico, has expanded from a local cement company to a multinational player over the last 20 years by making a string of deals. The acquisition of RMC would be the largest in Cemex's nearly 100-year history. Cemex said it expected the purchase to generate $200 million of cost savings a year by 2007.

RMC would give Cemex a strong presence in Germany, Austria and Portugal, as well as in Eastern Europe. RMC had sales of £4.87 billion ($8.77 billion) last year, and pretax profits of £133 million ($239.4 million).

After exceptional items, however, it had a loss of £132.9 million ($239.2 million) and a basic loss per share of 59 pence ($1.06). It has more than 2,200 operating units worldwide.

In an effort to maintain profit margins, cement companies like Cemex have increasingly been buying businesses that purchase their products. Cement is made from finely ground limestone and clay mixed with water, while concrete, RMC's main product, is made using cement, sand, gravel and stones.

On Monday, Cemex purchased 50 million shares of RMC, or about 19 percent of the company's outstanding shares on the London Exchange, as part of the takeover.

CEMEX FUCKERY, Britain, Germany involved.

Another old article on Cemex…

https://www.nytimes.com/2006/01/20/business/worldbusiness/us-cuts-duty-on-cement-from-mexico.html

U.S. Cuts Duty on Cement From Mexico

MEXICO CITY, Jan. 19 - The United States and Mexico agreed on Thursday to phase out American duties on Mexican cement imports, a move aimed at easing cement shortages caused by a building boom in Asia and rising demand for cement to rebuild after Hurricane Katrina.

The agreement would reduce duties on Mexican imports to $3 a metric ton, from $26, but limit imports to three million tons a year in the Southern states for the next three years, according to a statement from the Commerce Department. After that, all duties and quotas would be ended.

The agreement ends a 16-year dispute that began after the United States imposed duties on Mexican cement imports, responding to cement producers in Southern states who argued that Mexican producers were selling cement in the United States for less than in Mexico.

Approximately $ 3 Billion of Debt Affected.

New York, November 22, 2000 – Moody's Investors Service confirmed the long term debt ratings of CEMEX, S.A. de C.V. (senior at Ba1), Compania Valenciana de Cementos Portland, S.A. (CVCP) (senior at Baa3) and changed the outlook for CEMEX to stable from positive. Moody's also downgraded the ratings of Southdown Inc. (senior subordinated to Ba2). Moody's action follows CEMEX's announcement that it has completed a merger with Southdown valued at approximately $2.8 billion including assumed debt.

Ratings confirmed with a stable outlook are:

CEMEX, S.A. de C.V. – guaranteed senior unsecured debt and medium term notes rated Ba1, senior implied rating of Ba1, senior unsecured issuer rating of Ba2.

CEMEX Mexico, S.A. de C.V. (formerly Tolmex) – senior unsecured debt rated Ba1

CEMEX International Capital LLC – Putable Capital Securities rated "ba2"

CEMEX Netherlands B.V. – subordinated debentures rated Ba2

Compania Valenciana de Cementos Portland – senior implied rating of Baa3, senior unsecured issuer rating of Ba1

The rating downgraded is:

Southdown, Inc.: senior subordinated notes downgraded from Baa2 to Ba2

Rating confirmed:

CEMEX S.A.– euro-commercial paper at Not Prime

CEMEX has completed its merger with Southdown, the second largest U.S. cement producer, in a cash transaction valued at approximately $2.8 billion. The acquisition extends the trend of consolidation in the global cement industry, whereby the leading producers, including CEMEX, continue to seek greater scale, diversity and stability of cash flows via global acquisitions. Moody's confirmation reflects the expected financial and operational benefits of the combination, including the addition of significant capacity and cash flow in a large, stable market, an improved balance of cash flow between developed and developing markets, potential logistic and marketing synergies with CEMEX's U.S. operations, and the strong financial condition of Southdown before the acquisition. The rating also considers projected debt protection measurements similar to those currently generated by CEMEX and Valenciana, and the leveraging of Southdown's balance sheet to fund a portion of the transaction. Moody's also noted that a key consideration in confiming the ratings of CEMEX and Valenciana is the structure of a portion of the financing, which includes a preferred, non-recourse obligation at a special purpose company. The financing includes a dividend payment while the obligation is outstanding, and creates a relatively short-term obligation in the required repayment within 18 months. Repayment can be made with cash, proceeds of an IPO of Valenciana or transfer of an equity interest in Valenciana. Given the unknown market conditions for a future IPO, the percentage interest to be sold or transferred cannot be determined at this time, although current market valuations for international cement producers suggest that the sale of a 20-25% interest in Valenciana would be required. Conceivably, in the event of extremely weak market conditions, CEMEX's ownership interest in Valenciana could be diluted significantly. Despite the potential operating benefits of the acquisition, the uncertainty reflected in this contingent obligation has caused a revision in CEMEX's outlook to stable from positive.

CEMEX, S.A. de C.V., headquartered in Monterrey, Mexico, is the world's third largest producer of cement. Revenues were $4.8 billion in 1999. Southdown, Inc., based in Houston, Texas, is the second largest producer of cement in the United States. Revenues totaled $1.3 billion in 1999.

https://www.moodys.com/research/MOODYS-CONFIRMS-RATINGS-OF-CEMEX-SA-de-CV-SENIOR-AT–PR_41302