Mexican Cement Maker on Verge of a Deal
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Mexico&#39;s far-flung cement giant Cemex is nearing a deal to buy the RMC Group of Britain for $4 billion, two people close to the negotiations said Sunday evening.
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By Tim Ellis, ARIZONA DAILY STAR  Work at a Corona de Tucson-area limestone quarry will begin Sept. 18, according to an official with the company that bought the mine and surrounding land.
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The company continues to benefit from the worldwide cement shortage.
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RMC, the troubled UK building materials group, was swallowed up for Â£2.3bn yesterday by the world&#39;s third-biggest cement producer, Cemex of Mexico.
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Alcan Inc. has agreed to sell its ferroalloy division to a Spanish company for more than â¬100-million ($164.1-million). Montreal-based Alcan said yesterday it had agreed on terms
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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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Property owners' resistance to barrier between U.S., Mexico raises concerns about its feasibility.
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LONDON The Mexican cement company Cemex said Monday that it would buy the British concrete maker RMC Group for Â£2.3 billion to expand in Europe and increase its product line.
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The Mexican cement producer is bringing sexy back.
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Rio Tinto Ltd.'s $38.1 billion takeover of Alcan Inc. is set to reap benefits from not just China's appetite for aluminum, but also the bauxite and alumina needed to make it, analysts said on Friday.
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Mexican cement company Cemex said on Monday it had spent about 432 million pounds (&#36;780 million) buying an 18.8 percent stake in RMC Group  as part of its planned takeover of its British rival.
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Stelco, Canadaâs last domestically owned steel maker, said it was in early talks that might lead to its sale.
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The companies are rumored to be in talks to upgrade an Iraqi petrochemical plant.
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Lorenzo Zambrano gained a reputation as a savvy deal-maker as he led Mexico&#39;s Cemex on a spending spree that turned it into the world&#39;s third largest cement maker with 15 acquisitions in a dozen years.
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The company teeters on the edge of profitability, but lines up another immense opportunity.
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American tycoon Malcolm Glazer is reportedly poised to make a takeover bid for Manchester United.
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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.