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