GLOBALISATION OF CEMEX| Year| Event| Overall Effect| Merger Cost| Increase in Net sales %| Increase in Profit %| 1906 – 30| CEMEX was founded in 1906 with the opening of the Cementos Hidalgo plant in Mexico. In 1931, it was merged with Cementos Portland Monterrey and initiated operations with 20,000 metric tons of annual production capacity. | Later renamed CEMAX, founded by Lorenzo Zambrano. | | | 1987| CEMEX acquires Cementos Anahuac | -giving the company access to Mexico’s central market-addition of two plants -increases its export capabilities and capacity by 4 million tons| | | | 1989| CEMEX acquires Cementos Tolteca, Mexico’s second-largest cement producer| – CEMEX becomes one of the ten largest cement companies in the world- addition of seven plants-increases its capacity by 6. 6 million tons| nearly $1 billion| | | | | | | | | | | | | | | | | | | | | | | | | | | 1992
CEMEX acquires and integrates Spain’s two largest cement companies. 1994 CEMEX acquires Venezuela’s largest cement company, which is ideally positioned for exports. CEMEX expands its U. S. operations by acquiring a cement plant in Texas and enters Panama with the acquisition of Cemento Bayano. 1995 CEMEX acquires Cementos Nacionales in the Dominican Republic. 1996 CEMEX becomes the world’s third-largest cement company with the acquisition of Colombia’s Cementos Diamante and Samper. 1997 CEMEX acquires a 30% interest in the Philippines’ Rizal Cement. 998 – 99 CEMEX acquires a 25% interest in Indonesia’s largest cement producer. It also acquires APO Cement in the Philippines and an additional 40% interest in Rizal. 1999 CEMEX forms CEMEX Asia Holdings, an investment holding company, to develop new partnerships and cement-related businesses in Southeast Asia. CEMEX lists on the New York Stock Exchange (NYSE) under the ticker symbol “CX. ” CEMEX consolidates its presence in Central America and the Caribbean by acquiring Costa Rica’s largest cement producer.
CEMEX acquires Assiut Cement Company, one of Egypt’s leading cement producers. 2000 CEMEX begins the construction of a new grinding mill in Bangladesh. Standard & Poor’s upgrades CEMEX’s credit rating to investment grade. CEMEX becomes North America’s largest cement producer with the acquisition and integration of U. S. – based Southdown, Inc. 2001 CEMEX enters the Thai cement market with the acquisition of Saraburi Cement Company. 2002 CEMEX enhances its position in the Caribbean by acquiring Puerto Rican Cement Company.