| MONTERREY, Mexico -- Mexican Cement giant CEMEX celebrated its first 100 years in business this week, with Chief Executive Officer Lorenzo Zambrano ringing the Opening Bell at the New York Stock Exchange.
The company also had another reason to celebrate: In the third quarter of 2006, majority net income increased 24% to US$836 million compared with US$675 million in the third quarter of 2005.
The company did see a slowdown in the U.S. during the latest quarter, but says public infrastructure and housing continue to be the main drivers of cement and ready-mix demand in most of its markets. CEMEX's actual cement volume increased 3%, reaching 22.3 million metric tons during the period.
The company also recently made a huge $16.8 billion hostile takeover bid for Austrailian cement company Rinker.
For more information, visit cemex.com
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