About Us - Press Release - CEMEX signs cement supply agreement for the Panama Canal expansion project
July 13, 2010
CEMEX, S.A.B. de C.V. (NYSE: CX) announced today the signing of a supply contract with “Consorcio Grupo Unidos por el Canal”, the primary contractor for the construction of the third set of locks of the Panama Canal expansion project. The supply contract calls for approximately 500 thousand tons of cement.
The CEMEX contract represents an integral phase of the Canal expansion project, which includes two locks, the excavation of access channels to the new locks and the widening and deepening of navigational channels.
“We are proud to have been selected to be part of the Canal expansion project, which has real promise to be a catalyst for development for the Country of Panama”, said Jesus Gonzalez, president of CEMEX Central America. “As part of the contract, CEMEX will provide specially designed products for the engineering requirements of the work and ensure supply, a result of investing in expanding our production capacity since 2008. We at CEMEX look forward to being part of Panama’s growth.”
Over the past two years, CEMEX has invested approximately $300 million in its Panamanian operations, including its plant where it has tripled its cement production capacity. With this expansion, CEMEX will successfully satisfy the needs of building materials of the Panama Canal expansion project and the requirements of the projects that are part of Panamanian Government's investment plan.
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.
CEMEX will supply approximately 500 thousand tons of cement for the
construction of the third set of locks of the Panama Canal expansion project.
CEMEX will provide specially designed products for the engineering
requirements of the Panama Canal expansion project.
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, weather conditions, 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.