Mexico's Cemex Plans to Sell Two Plants
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Mexican cement company Cemex SA said Monday it has signed a letter of intent to sell two U.S.cement plants to Brazil's Grupo Votorantim for $400 million.
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Concrete maker RMC is set to be bought by Mexican rival Cemex in a deal valuing it at around Â£2.3 billion, it was announced today.
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Production at Mexicoâs giant Cantarell oil field will fall by 15 percent this year, JesÃºs Reyes HerÃ³les, left, the director general of PetrÃ³leos Mexicanos, Mexicoâs state-owned oil monopoly, said. Output dropped 13.1 percent last year. Mr. Reyes HerÃ³les, a former energy minister who took over at Pemex in December, said other projects would help make up for the shortfall at Cantarell, which last year accounted for about 55 percent of Pemexâs overall production of 3.26 million barrels a day. Mexico is a top supplier of imported oil to the United States. Mr. Reyes HerÃ³les said that the company needed additional investment of $8 billion to $10 billion a year to keep up production, develop new reserves, expand its refining capacity and modernize its storage and transport network. But Pemex is closed to private investment and cannot finance the investment itself. Last year, Pemex sales surpassed $100 billion but it paid $79 billion in taxes, which accounted for almost 40 percent of Mexicoâs federal budget.
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Mexico's state-owned oil company Pemex was shutting down about one-fifth of its daily output on Sunday due to bad weather, but said it expects to quickly resume output within days.
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Mexico's cement giant Cemex is purchasing Britain's RMC Group in a $5 billion deal due to be announced on Monday.
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LONDON (CBS.MW) -- Mexico&#39;s Cemex has agreed to buy Britain&#39;s RMC Group for $4.1 billion in cash. Free! Sign up here to receive our Before the Bell e-Newsletter!
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Mexican cement company Cemex said on  Monday it had spent about 432 million pounds ($780 million)  buying an 18.8 percent stake in RMC Group RMC.L as part of  its planned takeover of its British rival.
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Romania's Trade Ministry will start ve talks with German utility E.On and the Czech's CEZ to sell two regional power suppliers.
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The Mexican cement giant reaches a crucial 90% stake in an Australian rival.
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Mexican state oil monopoly Petroleos Mexicanos has chosen potential private partners for a US$2.7 billion (euro2.15 billion) project to boost its faltering petrochemicals business.
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US real estate investors are heading south of the border, putting their money in an array of projects and properties they believe will generate attractive returns from Mexico&#39;s growing economy.
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Alcan Inc. has agreed to sell its ferroalloy business to Spain&#39;s Ferroatlantica SL for more than 100 million euros ($136.3 million or C$164.2 Canadian), the world&#39;s second biggest aluminum producer said on Thursday.
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The Chicago Mercantile Exchange is in talks to buy its New York rival Nymex for $11bn, both firms reveal.
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LONDON: Mexico&#39;s Cemex, the world&#39;s third-largest cement maker, has agreed to buy Britain&#39;s RMC Group for around Â£2.3bil (US$4.
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Xinhua world economic news summary at 0500 GMT, June 19    MEXICO CITY -- Mexican President Felipe Calderon announced on Monday that his country would invest 7 billion pesos (around 636 million U.S. dollars) in a social and economic development project to help 100 poorest municipalities.
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German-American auto maker DaimlerChrysler AG said Thursday it will invest $210 million to update an assembly plant in the northern Mexican state of Coahuila.
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Mexico expects to double automobile capacity in 10 years, attracting investment of as much as $10 billion from foreign automakers, Economy Minister Fernando Canales said in an interview.