About Us - Press Release - CEMEX to invest US$200 million to expand Bayano Plant in Panama
February 6, 2007
CEMEX S.A.B. de C.V. (NYSE: CX) announced today that it will begin the construction of a new kiln at its Bayano Plant in Panama. The construction is expected to be completed in 2009. The value of the investment is approximately US$200 million.
Current production at the Bayano Plant is approximately 450,000 tons of clinker per year. Following the completion of the project, production will increase by approximately 1.15 million tons of clinker to 1.6 million tons of clinker per year.
The Bayano Plant will operate using the most modern and efficient processes developed with CEMEX technology for clinker production, fuel use, and environmental standards.
With this additional production capacity, the Bayano Plant will become one of the most modern production facilities in the Americas.
"This investment reflects our confidence in Panama's economy and in the continued high growth of the construction industry in the country," said Juan Romero, President of the South America & Caribbean Region of CEMEX.
CEMEX is a growing global building solutions company that provides high quality products and reliable service to customers and communities in more than 50 countries throughout the world. CEMEX has a rich history of improving the well-being of those it serves through its efforts to pursue innovative industry solutions and efficiency advancements and to promote a sustainable future. For more information, visit www.cemex.com.
This press release contains forward-looking statements and information that are necessarily subject to risks, uncertainties and assumptions. Many factors could cause actual results to be materially different from those expressed or implied in this release, including, among others, changes in general economic, political, governmental and business conditions, the level of construction generally, changes in cement demand and prices, changes in raw material and energy prices, changes in business strategy and various other factors. Should one or more of these risks or uncertainties materialize, or should underlying assumptions prove incorrect, actual results may vary materially from those described herein. CEMEX assumes no obligation to update or correct the information contained in this press release.