Cemex 1997 Annual Report Download - page 33

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27
This year our total trading volume exceeded
10 million metric tons of cement and clinker.
Because of growing local demand in our
Spanish and Venezuelan markets, a larger
share of our 1997 trading volume came from
external sources. We met our international
commitments by purchasing more cement
from third parties, including Romanian, Greek,
Turkish and U.S. suppliers.
We continue to market cement to over 60
countries worldwide. Our major international
trading partners include the U.S., Peru,
Indonesia, Chile and Malaysia. Due to Asia’s
economic downturn, we reduced CEMEX
Mexico’s exports to the region from 2.5 mil-
lion to approximately 1.0 million metric tons.
For the year, CEMEX Mexico contributed
about 3.5 million metric tons to our total
trading volume. In light of Asia’s economic
environment, we used Mexico’s additional
capacity to test new markets, like Nigeria and
Ghana.
This activity exemplifies the fundamental
role that our trading operations play in real-
izing our strategic objectives. They further
our international development through care-
ful, calculated steps, while satisfying world-
wide demand where needed. Specifically, they
allow us to maximize our worldwide produc-
tion by identifying markets for our excess
capacity. They also allow us to explore new
markets, like the Philippines, without the
necessity of making immediate investments
in new production facilities or related capital
expenditures.
This year we took an important step to
enhance our trading infrastructure and flexi-
bility. We purchased our first 60,000-metric-
ton floating silo to store and supply cement
where our customers require it. The vessel’s
A floating silo
Our 60,000-metric-ton floating silo can
store and supply cement wherever our
customers need it.
Export diversity
destination by region in percentage
EXPORTS FROM
DESTINATION MEXICO SPAIN VENEZUELA
Asia 33.6 5.5 Ñ
South America 26.0 Ñ 17.3
North America 15.8 65.7 56.6
Central America 7.1 Ñ 6.2
Caribbean 14.9 Ñ 19.3
Europe Ñ 5.9 Ñ
Africa 2.6 22.9 0.6
TOTAL 100 100 100
Export diversity
CEMEX' Mexican, Spanish and Venezuelan
exports go to international trading part-
ners in Asia, North America, Central and
South America, the Middle East and
Africa.