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CEMEX COMPLETES DEAL.

Cemex, the Mexican cement company, said it has completed the public offer to buy 97.7% of the shares of the Puerto Rico Cement Co. (PRCC) for US$35 per share, reports El Vocero (July 31, 2002). Cemex, the world's third largest cement company, made the deal through one of its subsidiaries, Tricem Acquisition, for US$180 million. Cemex absorbed a debt of US$70 million. PRCC has an annual production capacity of 1.4 million cubic meters of concrete, and last year sold 1 million tons in the Puerto Rican market. See related story in section on Trinidad & Tobago.

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Publication:Caribbean Update
Geographic Code:1U0PR
Date:Sep 1, 2002
Words:102
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