History of CEMEX
CEMEX is founded in 1906 with the opening of the Cementos Hidalgo plant in northern Mexico.
1920 Cementos Portland Monterrey started operations with an annual production capacity of 20,000 tons.
CEMEX’s annual production capacity reaches 124,000 tons, a nearly fourfold increase from 1906.
CEMEX grew into a regional player by acquiring Cementos Maya in Merida and building a new plants in Ciudad Valles and Torreon between 1966 – 1967.
In 1976 CEMEX made an initial public offering at the Mexican Stock Exchange. Later that year, CEMEX became Mexico’s market leader with the acquisition of Cementos Guardalajara.
For the first time, CEMEX’s annual sales exceed 6.7 million tons of cement and clinker, and the annual sales of three cement plants–Monterrey, Guadalajara and Torréon–each surpass 1 million tons.
Through co-investments with North American cement companies, CEMEX consolidates its export program.
1987 saw the acquisition of Cementos Anahua and started the implementation of a satellite system, CEMEXNet to connect the company’s facilities. With the acquisition of Cementos Tolteca, Mexico’s largest cement producer, CEMEX became one of the ten largest cement producers in the world.
CEMEX acquired Spain’s two largest cement plants.
CEMEX acquired Venezuela’s largest cement company, which was ideally positioned for exports. CEMEX then expanded into the USA operations by acquiring a cement plant in Texas and entered Panama with the acquisition of Cemento Bayano and ended 1995 having acquired Cementos Nacionales in Dominican Republic.
CEMEX launches its alternative fuels strategy and begins converting its plants to enable them to use petroleum coke.
CEMEX formally establishes its eco-efficiency program, the cornerstone of its sustainable development strategy.
CEMEX became the third largest cement company in the world with the acquisition of Cementos Diamante and Samper in Colombia.
Between 1998 – 1999 CEMEX acquired 25% interest in Indonesia’s largest cement producer. It also purchased APO Cement in the Philippines and an additional 40% economic interest in Rizal Cement.
CEMEX lists on the New York Stock Exchange under the ticker symbol “CX”. Also in 1999 CEMEX formed CEMEX Asia Holdings (CAH), created to develop new partnerships and cement related business in Southeast Asia. We consolidated our presence in Central America and the Caribbean by acquiring Costa Rica’s largest cement producer and by the end of the 1999 CEMEX had also acquired Assiut Cement Company of the cement producer leaders in Egypt.
CEMEX formalised the construction of a new grinding mill in Bangladesh. We also became North America’s largest cement producer by acquiring the USA based Southdown.Inc.
The company launches its CEMEX Way initiative to identify, incorporate and execute standardized best practices throughout the organization.
Standard & Poor’s upgrades CEMEX’s credit rating to investment grade.
CEMEX enter the Thai cement market by acquiring Saraburi Cement Company and in 2002 enhanced its position in the Caribbean by acquiring Puerto Rican Cement Company.
CEMEX doubles its size with the acquisition of RMC, adding 20 mainly European markets. This integration strengthened CEMEX’s presence in Europe and positioned the company all the way through the industry value chain.
More than 50,000 CEMEX employees celebrate the company’s 100th anniversary.
CEMEX initiates the integration of Rinker.
You will see from this brief history that since the late 1980’s CEMEX has been growing year on year through acquisitions.
The Global Credit Crisis has clearly affected the construction industry as a whole and CEMEX is part of that. In the last few years we have not been growing at the same pace that we are used to but we have positioned our business now to be ready for the upturn in the world’s economies CEMEX annual sales are $16 billion, employs over 50,000 people across more than 50 countries.
Our core businesses are based on the extraction and supply of quarried materials, the production and supply of cement, readymix concrete and concrete products.
Information provided from www.cemex.com