Cementing Asia

Latin Trade, Oct, 1999 by Sergio R. Bustos

Mexican cement producer Cemex could be going shopping again in Asia for more companies over the next few years. The company recently formed a holding company--Cemex Asian Holdings--to "take advantage of investment opportunities in cement assets in Asia," according to a Cemex statement. The company is putting up $850 million in start-up capital and two large institutional investors--AIG Asian Infrastructure Fund II L.R and GIC Special Investment--are each investing $50 million.

Cemex already has stakes in cement companies in the Philippines and Indonesia. Analysts say they might be interested in more.,, They have talked about Thailand and Malaysia, and once they talked about Vietnam, apart from the Philippines and Indonesia," says Carlos Pena, an analyst with Afin Securities.