Billionaires Increase Bet on Cement as Building Recovers

September 24, 2014

09/23/14 Bloomberg 

construction-workersBillionaires Carlos Slim and Antonio del Valle are doubling down on the Mexican cement industry, wagering a demographic boom and government subsidies will sustain a homebuilding recovery after last year’s collapse. Elementia SAB, the Mexican cement maker backed by Slim and del Valle, agreed Sept. 19 to pay Lafarge SA (LG) $225 million for the 47 percent stake of cement maker Cementos Fortaleza it didn’t already own. Hours later, Mexico City-based Elementia disclosed plans for an initial public offering, which will be used to fund expansion projects, according to a prospectus on the Mexican stock exchange’s website.

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Slim Firm, Lafarge Plan Mexico Tie-Up

January 9, 2013

Wall Street Journal, 1/8/2013

Geothermal plant in Mexico

Mexican building-materials company Elementia, part-owned by billionaire Carlos Slim, said Tuesday it is planning a joint venture with the world’s largest cement company, Lafarge SA LG.FR -0.15% of France, to produce cement in Mexico. The alliance will have three plants with annual production capacity of close to two million tons of cement as Elementia’s cement division—Cementos Fortaleza—and Lafarge pool their production facilities in Mexico. Elementia said in a release that it will own 53% of the planned joint venture, and Lafarge will own 47%.

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