Cemex 1999 Annual Report Download - page 20

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capitaliz
because CEMEX is
on globalization
CEMEX is capitalizing
on globalization
CEMEX’s international trading network, as well as its experience in developing countries, allows it to selectively
diversify into some of the world’s most dynamic growth markets. Through strategic direct investment in these
regions, the company is able to increase cash flow and return on equity. For example, CEMEX has achieved a sig-
nificant presence in Costa Rica, Chile, and the Philippines. CEMEX now brings its expertise to Egypt, where the
company acquired a controlling stake in Assiut Cement Co., that country’s largest cement producer.
CEMEX’s global trading operations also give the company the flexibility to explore new markets and allow it to
direct cement to places where it is most needed. In 1999, for example, CEMEX began construction of a grinding
mill in Bangladesh, from which it can readily market clinker from Semen Gresik’s plants. The company expects to
complete the mill by 2001.