Cemex Confirms Interest in Gresik Participation.MONTERREY, N.L., Mexico--(BUSINESS WIRE)--Sept. 2, 1998--CEMEX, S.A. de C.V. (OTC OTC See: Over-the-counter. OTC See over-the-counter market (OTC). : CMXBY) confirmed today to the Indonesian authorities its interest in pursuing a 14% minority participation in the Indonesian market-leading cement producer, PT Semen Gresik (Persero) Tbk (SMGR SMGR Senior Manager : Indonesian Exchange). This minority participation would be based upon a shareholder's and management participation agreement that would allow CEMEX CEMEX Cementos Mexicanos to comply with its stated investment criteria, and should permit Gresik to benefit from CEMEX's management expertise. CEMEX has initiated discussions with the Indonesian authorities to define the terms and conditions that would be acceptable for the parties involved. In the privatization privatization: see nationalization. privatization Transfer of government services or assets to the private sector. State-owned assets may be sold to private owners, or statutory restrictions on competition between privately and publicly owned process, CEMEX remains as Preferred Bidder. Hector Medina, CEMEX's Executive Vice President of Planning and Finance, stated, "Despite the current global economic outlook, Indonesia is an attractive market for CEMEX and offers favorable long-term growth prospects. This investment is congruent with our strategy of prudent international diversification International diversification The attempt to reduce risk by investing in more than one nation. By diversifying across nations whose economic cycles are not perfectly correlated, investors can typically reduce the variability of their returns. within markets that offer high long-term growth." Founded in 1906, CEMEX is the largest cement producer in the Americas and one of the three largest cement producers in the world, with a production capacity of approximately 52 million metric tons per year. CEMEX is the market leader in its operations in Mexico, Spain, Venezuela, Panama, and 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. ; the company has a significant presence in the markets of Colombia, the Caribbean, the southwest region of the United States of America UNITED STATES OF AMERICA. The name of this country. The United States, now thirty-one in number, are Alabama, Arkansas, Connecticut, Delaware, Florida, Georgia, Illinois, Indiana, Iowa, Kentucky, Louisiana, Maine, Maryland, Massachusetts, Michigan, Mississippi, Missouri, New Hampshire, , and the Philippines.
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