CEMEX's Acquisition Strategy - The Acquisition of Rinker Group

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Case Details:

Case Code : BSTR376
Case Length : 29 Pages
Period : 2005-2010
Pub Date : 2010
Teaching Note :Not Available
Organization : CEMEX S.A.B de C.V
Industry : Cement
Countries : Mexico, Australia

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This case study was compiled from published sources, and is intended to be used as a basis for class discussion. It is not intended to illustrate either effective or ineffective handling of a management situation. Nor is it a primary information source.

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"The lessons CEMEX has learned in the crisis means it has a lighter, more flexible, and dynamic operating base that will allow its eventual recovery...multiplying its profitability not only in the United States but in the majority of its subsidiaries." ¹

- Carlos Hermosillo, Analyst, Vector Brokerage, in January 2010.

"CEMEX is in a much stronger financial position to regain our financial flexibility and, eventually, our investment-grade capital structure."²

- Lorenzo Zambrano, Chief Executive Officer, CEMEX, in August 2009.

Introduction

On January 27, 2010, Mexico-based cement company CEMEX S.A.B de C.V (CEMEX) announced that its net sales for the fourth quarter ended December 31, 2009, had dropped by 17% to US$ 3.42 billion.

Moreover, the company reported that its annual net sales in fiscal 2009 had dropped by 28% to US$ 14.5 billion as compared to the net sales reported in fiscal 2008. In 2009, the company reported a fall of 35% in its earnings before interest, depreciation, taxes, and amortization (EBIDTA) to US$ 2.7 billion.

CEMEX's Acquisition Strategy - The Acquisition of Rinker Group - Next Page>>

1] Gabriela Lopez, "CEMEX Juggles Debt But U.S.Still a Worry," ww.forexyard.com, January 19, 2010.
2] Thomas Black, "CEMEX Extends Payments on $15 Billion in Debt to 2014," www.bloomberg.com, August 14, 2009.

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