About Us - Press Release - CEMEX expects to deliver additional $200 million in cost savings by the end of 2009
April 23, 2009
CEMEX, S.A.B. de C.V. (NYSE: CX), announced today that it expects to realize an additional US$200 million in cost savings from the Company's ongoing effort to reduce costs and optimize its business, bringing the total expected savings from the company's cost-cutting initiatives to US$900 million, which includes US$700 million previously identified.
The additional cost-savings identified represent an extension of earlier cost saving measures originally initiated in 2008. These measures will be fully implemented before the end of the year. CEMEX will use the additional savings in order to more quickly achieve financial flexibility.
CEMEX is a global building materials company that provides high-quality products and reliable service to customers and communities in more than 50 countries throughout the world. CEMEX has a rich history of improving the well-being of those it serves through its efforts to pursue innovative industry solutions and efficiency advancements and to promote a sustainable future. For more information, visit www.cemex.com.
This press release contains forward-looking statements and information that are necessarily subject to risks, uncertainties, and assumptions. Many factors could cause the actual results, performance, or achievements of CEMEX to be materially different from those expressed or implied in this release, including, among others, changes in general economic, political, governmental and business conditions globally and in the countries in which CEMEX does business, changes in interest rates, changes in inflation rates, changes in exchange rates, the level of construction generally, changes in cement demand and prices, changes in raw material and energy prices, changes in business strategy, and various other factors. Should one or more of these risks or uncertainties materialize, or should underlying assumptions prove incorrect, actual results may vary materially from those described herein. CEMEX assumes no obligation to update or correct the information contained in this press release.