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LATEST NEWS  Concrete

September 29, 2004

Mexican cement firm buys world’s biggest supplier

LONDON

Mexican cement giant Cemex SA is buying Britishbased RMC Group PLC, the world’s biggest supplier of ready mixed concrete, in a deal worth some $4.15 billion (all funds U.S.).

The deal entitles RMC shareholders to receive $15.44 a share in cash, investment bank Goldman Sachs International said in a statement.

RMC directors have agreed to the acquisition, which is subject to approval by shareholders and regulators, Goldman Sachs said.

“Becoming part of a powerful new group within the global heavy building materials industry will offer great scope and opportunities for our staff,” RMC chief executive David Munro said.

The Associated Press

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