A high-level marketing team from the Mexico-based Cemex S.A. de C.V, the world's third largest cement company with a capacity of approximately 61 million metric tonne, is visiting India this month to conduct a survey of the Rs 20,000-crore domestic cement industry.
Cemex, which has traditionally grown through the acquisition route, may also apply the same business principles in India.
However, industry sources do norule out the possibility of greenfield opportunities, if the company finds the conditions conducive. The team's basic aim is to understand the local market threadbare and also to look into the financial details of cement units up for sale in India.
Top investment bankers are likely to make detailed presentations to this committee in order to help them identify possible acquisition targets in India.
Cemex had already made a preliminary visit some time in September 1998 when a team from its Singapore operations visited the country. The present visit is expected to be a much more "comprehensive" in nature.
Cemex, through its operating subsidiaries, is positioned well in three continents. It is basically engaged in the production, distribution, marketing and sale of cement, ready-mix concrete, aggregates and clinker.
Additionally, it is also world's leading producer of white cement and largest trader of cement and clinker.
Cemex has focused its growth by acquiring companies globally. In 1992, it acquired two most important cement producers in Spain: Valenciana and Sanson.
In 1994 it acquired Vencemos in Venezuela and Cemento Bayano in Panama and also Balcones Plant in New Braunfels, Texas. While in 1995, it took over Cementos Nacionales in Dominica
