ABSTRACT
The core of Cemex’s activity in the United States was concentrated in Texas, California, and Arizona. In 1992 Cemex purchased Compania Valenciana de Cementos Portland and its associate company, Construccion Sanson. This acquisition provided Cemex with the capacity to serve Spain, the Canary Islands, and the Spanish territories of Ceuta and Melilla. The oil discoveries of the 1970s compelled Cemex to increase capacity to meet the fast-growing demand for cement in Mexico. In 1994, Cemex bought 60 percent of Vencemos, a Venezuelan cement company, for $364 million. In spite of all the changes introduced to Cemex, the most important jewel of Cemex’s crown was the Mexican operation. To further show that concerns about the company’s debt were misplaced, Lorenzo Zambrano went ahead and authorized the company’s first acquisition in Asia. It was the purchase of a cement plant in the Philippines, and it was looking for other deals.
