MONTERREY, Mexico -- CEMEX announced this week reported a quarterly loss of $86 million on lower sales of $3.8 billion. Nevertheless, the cement giant said conditions in its markets may have bottomed out, and it also announced a new debt financing deal, which sent its shares to six-month highs.
Fernando A. Gonzalez, Executive Vice President of Planning and Finance, said: "Despite the still challenging business environment in some of our key markets, we believe that economic conditions in most of our geographies have stabilized and/or bottomed out, with the fourth quarter likely to be an inflection point for our trailing twelve months consolidated EBITDA. We continue adapting our operations to the prevailing market conditions, and remained focused on our short term priority of reducing debt."
CEMEX is a global building materials company that provides high-quality products and reliable service to customers and communities in more than 50 countries throughout the world. For more information, visit www.cemex.com