Cemex 1997 Annual Report Download - page 10

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A diversified
Any investment (past or future) must satisfy
three criteria: Value creation must be principally
driven by factors that the company can influ-
ence, particularly the application of CEMEX’
management and turnaround expertise; It must
not compromise our ability to meet our finan-
cial leverage and interest coverage targets;
and It must offer superior long-term financial
returns that significantly exceed our cost of
capital.
Rizal Cement
Plant in Philippines
8
CEMEXÕ diversified operating
cash flow stream allows it
to stabilize consolidated
results.
Operating cash
flow
billions of constant
Mexico Non-Mexico
CEMEX has tranformed itself
into a multinational power-
house and taken on competi-
tors in Mexico and in markets
around the world.
Joel Millman, The Wall Street
Journal, 9/29/97
“
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