Cemex CEO passes away

Cemex (CX) CEO Lorenzo Zambrano has unexpectedly died whilst on a business trip to Spain.

After becoming CEO in 1985, Zambrano set about turning Cemex into Mexico's first multinational company with a series of multi-billion dollar acquisitions.

However, Cemex's $16B purchase of building-materials company Rinker in 2007 saddled the Mexican firm with huge debts just as the U.S. housing market was starting to slump. Cemex is still paying off those loans.

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Comments (1)
  • st.andrew
    , contributor
    Comments (21) | Send Message
    With the Mexican Oil industry expanding I believe there is a construction sector on the move up too,which imo brings about a demand for construction materials eg. cement...in Mexico as well as in the U.S.A.
    15 May 2014, 12:56 AM Reply Like
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