CEMEX U.S. Operations to Add One Million Metric Tons of Cement Capacity in Northern California.Business Editors HOUSTON--(BUSINESS WIRE)--June 9, 2004 CEMEX CEMEX Cementos Mexicanos (NYSE NYSE See: New York Stock Exchange : CX) announced today that its United States United States, officially United States of America, republic (2005 est. pop. 295,734,000), 3,539,227 sq mi (9,166,598 sq km), North America. The United States is the world's third largest country in population and the fourth largest country in area. subsidiary CEMEX, Inc. has reached an agreement with Levin lev·in n. Archaic Lightning. [Middle English levene, levin; see leuk- in Indo-European roots.] Enterprises to build a one million metric ton Portland cement portland cement Binding agent of present-day concrete. It is a finely ground powder made by burning and grinding a limestone mixed with clay or shale. Its inventor, Joseph Aspdin (1799–1855), patented the process in 1824, naming the material for its resemblance to the import terminal in Richmond, CA. This state of the art terminal will enable CEMEX Inc. to meet the needs of a growing construction market in Richmond, CA. and the surrounding areas. "We continue to strategically enhance our cement portfolio. This new terminal will increase the flexibility of our existing distribution system, enabling us to meet the demands of the rapidly expanding markets in the West Coast," said Gilberto Perez, president of CEMEX's U.S. operations. Construction of the terminal will take place in two phases. Phase I will consist of a 500K metric ton per year rail terminal that will meet the immediate needs of the market. Phase II will consist of the construction of a one million metric ton import terminal. Phase I is expected to be operational by 1st quarter of 2005. CEMEX, headquartered in Monterrey, Mexico, is one of the leading global cement producers and the world's leading marketer of cement and ready-mix products. CEMEX is the largest cement producer in North America North America, third largest continent (1990 est. pop. 365,000,000), c.9,400,000 sq mi (24,346,000 sq km), the northern of the two continents of the Western Hemisphere. and the largest U.S. manufacturer and distributor of cement with 13 cement plants and 52 land and marine terminals serving 30 states. CEMEX also operates 86 ready-mix plants and 23 aggregate facilities in the United States. "This press release contains forward-looking statements forward-looking statement A projected financial statement based on management expectations. A forward-looking statement involves risks with regard to the accuracy of assumptions underlying the projections. , which CEMEX has based on its current expectations and projections about future events based upon knowledge of facts as of the date of this press release and its assumptions about future events. These forward-looking statements are subject to various risks and uncertainties that may be outside CEMEX's control. CEMEX has no obligation to publicly update or revise any forward-looking statements, whether as a result of new information, future events or otherwise. This press release should be read in conjunction with the Company's 2003 Annual Report on Form 20-F." |
|
||||||||||||
Printer friendly
Cite/link
Email
Feedback
Reader Opinion