Cemex expects 23 percent sales drop in 4th quarter

MEXICO CITY (AP) -- Mexican cement maker Cemex SAB says it expects a 23 percent drop in sales during the 4th quarter amid sagging consumer confidence and the nationalization of its plants in Venezuela.

The world's third-largest cement manufacturer forecast $4.45 billion in sales during the last three months of the year, a 23 percent drop from the year-earlier period.

Tuesday's statement from the Monterrey-based company also blamed foreign exchange fluctuations for its expected 4th quarter results.

Cemex Chief Financial Officer Rodrigo Trevino says the results "reflect the overall tightening of the global credit markets." He adds that sales "have been affected by decreased consumer confidence."

(Copyright 2008 by The Associated Press. All Rights Reserved.)


Join the Conversation!

To comment, the following rules must be followed:

  • No Obscenity, Profanity, Vulgarity, Racism or Violent Descriptions
  • No Negative Community Comparisons
  • No Fighting, Name-calling, or Personal Attacks
  • Multiple Accounts are Not Allowed
  • Stay on Story Topic

Comments may be monitored for inappropriate content, but the station is under no legal obligation to do so.
If you believe a comment violates the above rules, please use the Flagging Tool to alert a Moderator.
Flagging does not guarantee removal.

Multiple violations may result in account suspension.
Decisions to suspend or unsuspend accounts are made by Station Moderators.
Links require admin approval before posting.
Questions may be sent to webmaster@wvlt-tv.com. Please provide detailed information.

powered by Disqus

WVLT VOLUNTEER TV

6450 Papermill Drive Knoxville, TN 37919 Phone - (865) 450-8888; Fax - (865) 450-8869
Gray Television, Inc. - Copyright © 2014 WVLT-TV Inc. - Designed by Gray Digital Media - Powered by Clickability 36236139 - local8now.com/a?a=36236139