Cemex acquires concrete business in San Antonio with eye on U.S. growth
MEXICO CITY (Reuters) – Mexican cement producer Cemex said on Tuesday it had acquired a concrete business in San Antonio, Texas, as it looks to expand in the United States.
The acquisition of Beck Readymix Concrete Co. LTD includes three ready-mix concrete plants and one portable plant, the company said in a news release.
Cemex did not give the value of the acquisition.
“Cemex is proactively looking for opportunities to grow our operations in the U.S. and adapting to meet the needs of our customers,” said Jaime Muguiro, president of Cemex USA.
Bolstered by rising sales in the United States and Mexico, Cemex last week reported a net income of $70 million for the fourth quarter, compared to a $238 million loss a year earlier.