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Mexico's Cemex will bounce back soon, analysts say

Wednesday, November 21, 2012

Mexico’s Cemex is expected to return to profitability as soon as 2013, as it overcomes a debt crunch that forced one of the world’s biggest cement makers to shelve aggressive expansion in the aftermath of the U.S. housing crash.

Analysts bet the company will be able to revert losses it has posted since 2008, when Cemex became swamped shortly after paying $16 billion to buy Australian peer Rinker, as tough cost-cutting decisions pay off.

The path to recovery has been drawn out for 106-year-old Cemex, one of a handful of Mexican companies with international presence in dozens of countries.

Source: Reuters