Cemex to focus on cement and concrete in 2015

Bya897204973

Updated Wed, 11 Feb 2015 17:30:02 GMT

Mexican building materials giant Cemex will focus on cement and concrete in 2015, with sales of both, and aggregates, growing by one digit this year, according to its senior director Fernando Gonzalez.

Sales of cement and aggregates are likely to rise by around 5% in Mexico during 2015, claims Gonzalez, who also believes national concrete sales will rise above that figure this year.

Cemex will invest around US$800 million in fixed assets in 2015, including $500 million that will be spent on maintenance and $300 million that will be spent on strategic assets. It plans to sell assets worth between $1 billion and $1.5 billion in the next 12 to 18 months.

Gonzalez says Cemex will pay off at least $500 million in debts in 2015. It will also cut debt costs by $100 million.