Cemex to Invest in Chilean Cement Company.MONTERREY, N.L.--(BUSINESS WIRE)--June 2, 1999-- CEMEX CEMEX Cementos Mexicanos , S.A. de C.V. (CMXBY:OTC OTC See: Over-the-counter. OTC See over-the-counter market (OTC). ) announced today that it has acquired an 11.92% interest in Chile's largest cement producer, Cementos Bio Bio, S.A. (CEMENT: Chilean Stock Market), for US$34 million. Cementos Bio Bio has 2.25 million metric tons of installed capacity and 0.85 million cubic meters Noun 1. cubic meter - a metric unit of volume or capacity equal to 1000 liters cubic metre, kiloliter, kilolitre metric capacity unit - a capacity unit defined in metric terms of ready-mix capacity. The company also has a 36% interest in SOBOCE, a Bolivian cement company with 0.5 million metric tons of installed cement capacity. The total enterprise value paid by CEMEX for this investment was approximately US$135 per ton, which excludes non-cement assets held by Cementos Bio Bio. Founded in 1906, CEMEX is one of the three largest cement companies in the world with approximately 61 million metric tons of production capacity. Through operating subsidiaries positioned in three 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 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. . 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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