Cemex suffers 40% sales drop in 2011 Q4
First publishedon www.AggBusiness.com
Mexican cement firm, Cemex, suffered a 40% sales drop in Spain in the last three months of 2011, compared to the same period of the previous year.
The company said demand had been particularly hit in the Levante and Catalonia regions of Spain. It believed the overall sales drop was due to weak levels of investment in civil engineering, the "almost complete disappearance" of residential construction, and the poorer macroeconomic indicators for the country. In the Mediterranean region as a whole, Cemex's turnover was down 5% to €1.31billion.