Cemex Announces Investment Plan in the Dominican Republic.Business Editors MONTERREY, Mexico--(BUSINESS WIRE)--April 3, 2000 CEMEX CEMEX Cementos Mexicanos , S.A. de C.V. (NYSE NYSE See: New York Stock Exchange : CX), announced today an investment plan for the Dominican Republic Dominican Republic (dəmĭn`ĭkən), republic (2005 est. pop. 8,950,000), 18,700 sq mi (48,442 sq km), West Indies, on the eastern two thirds of the island of Hispaniola. The capital and largest city is Santo Domingo. whereby CEMEX Dominicana, the company's local subsidiary, will substantially increase installed capacity and provide an impetus for self-sufficiency in the country's cement industry. Because of the rapid recent growth (29% in 1999) in the Dominican Republic's construction business - resulting primarily from tourism, housing, and new private and government projects - the cement industry is now one of the busiest sectors in the national development effort. In view of this country's surge in construction, CEMEX Dominicana has launched an investment plan, which will be carried out in several stages at a cost of approximately US$187 million. "This investment plan will not only allow the Dominican Republic to become self-sufficient in terms of cement, but it will also enable it to export its surplus output," stated Victor Romo, President of CEMEX's South America South America, fourth largest continent (1991 est. pop. 299,150,000), c.6,880,000 sq mi (17,819,000 sq km), the southern of the two continents of the Western Hemisphere. & Caribbean Region. The company has already begun installing new electric power generators with an 18-megawatt capacity, which will cost US$20 million. With this added capacity, CEMEX Dominicana will be self-sufficient in terms of electric power. The first stage of these facilities will be completed by the end of May. CEMEX Dominicana is also building a new vertical mill, the largest of its type in the world, at a cost of US$22 million. This facility's operation, scheduled to begin in September, will double the company's current grinding grinding, process by which surface material is removed from an object, usually metal, by the abrasive action of a rotating wheel or a moving belt that contains abrasive grains. capacity to 2.4 million metric tons per year, from 1.2 million. In addition, CEMEX Dominicana will set up a new clinker clink·er n. 1. The incombustible residue, fused into an irregular lump, that remains after the combustion of coal. 2. A partially vitrified brick or a mass of bricks fused together. 3. line to boost its present capacity and eliminate imports of this essential raw material. The expansion of the clinker line, an investment of US$145 million, will begin in April and should take 24 months to complete. The company's clinker capacity will be increased to 2.2 million metric tons per year, from the current 600,000 tons. Founded in 1906, CEMEX is one of the three largest cement companies in the world, with approximately 65 million metric tons of production capacity. Through operating subsidiaries An operating subsidiary is a business term frequently used within the United States railroad industry. In the case of a railroad, it refers to a company that is a subsidiary but operates with its own identity and rolling stock. positioned in four different continents, CEMEX is engaged in the production, distribution, marketing, and sale of cement, ready-mix concrete Ready-mix concrete is a type of concrete that is manufactured in a factory according to a set recipe, and then delivered to a worksite, often by truck. This results in a precise mixture, allowing specialty concrete mixtures to be developed and implemented on construction sites. , aggregates, and clinker. In addition, the company is the world's leading producer of white cement and the world's largest trader of cement and clinker. |
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