Cemex Company

A battle over a massive quarry expansion sought near Santa Clarita took a new turn Tuesday when Rep. Howard P. "Buck" McKeon announced he will ask Congress to cap the mine's activity at roughly its current level. The Santa Clarita Republican said a bill he plans to introduce next week is a compromise version of at least two legislative attempts by him since 1999 that sought to ban mining in Soledad Canyon because of widespread opposition to truck traffic and air pollution.

Cemex of Mexico became the world's largest supplier of building materials Thursday after it won a majority stake in Australia's Rinker Group Ltd., overcoming concerns of potential dominance in some U.S. markets. Cemex announced it had won acceptance of its $14.3-billion takeover bid from shareholders representing 50.3% of Rinker stock. The buyout -- which comes as Dutch firm Mittal Steel Co.

Mexican cement giant Cemex said Friday it will buy the No. 2 U.S. cement producer, Southdown Inc., for $2.6 billion, in the biggest-ever acquisition by a Mexican company that would capture a prize U.S. asset in an industry that is consolidating globally. Cemex, the third-largest cement producer in the world, will pay $73 a share in cash, a 30% premium over Houston-based Southdown's closing price of $56 Thursday on the New York Stock Exchange.

Mexican cement maker Cemex, the No. 1 player in the United States, is poised to grow even stronger north of the border with a planned $15.3-billion takeover of an Australian firm with substantial American holdings. Following more than five months of wrangling, the board of Australia's Rinker Group said Tuesday that it would recommend shareholders accept Cemex's latest offer of $15.85 each for Rinker's Australia-traded shares.

On a parched hillside here in central Mexico, workers labor around the clock extracting one of the world's most coveted commodities. It isn't sold by the ounce on international exchanges, but in 110-pound bags in home improvement stores. The product is cement, a mixture of iron oxide, gypsum, clay and the reddish limestone quarried from these slopes about two hours southeast of Mexico's capital. Not exactly the stuff of a prospector's dream.

Cemex of Mexico became the world's largest supplier of building materials Thursday after it won a majority stake in Australia's Rinker Group Ltd., overcoming concerns of potential dominance in some U.S. markets. Cemex announced it had won acceptance of its $14.3-billion takeover bid from shareholders representing 50.3% of Rinker stock. The buyout -- which comes as Dutch firm Mittal Steel Co.

The Los Angeles County Board of Supervisors voted Tuesday to settle a lawsuit challenging the county's rejection of a massive gravel quarry near Santa Clarita. A lawyer for Cemex Inc., which hopes to create the mine, called the settlement a victory. But its effect on the project remained unclear: The settlement must still be approved by a federal judge, and no details will be made public until then.

Mexican cement giant Cemex said Monday that it planned to purchase England-based RMC Group, the world's biggest supplier of ready-mixed concrete. The deal calls for Cemex to pay $4.15 billion and assume $1.7 billion of RMC's debt. Cemex said the addition would make it the world's largest concrete company, with revenue of more than $15 billion. RMC directors have agreed to the acquisition, which is subject to approval by shareholders and regulators.

Mexico's Cemex, the third-largest cement maker in the world, said it is launching a currency transaction service for Mexican immigrants in the U.S. who send millions of dollars home annually to build new dwellings. Cemex said it has launched its new service, Construmex, in Los Angeles to enable Mexican immigrants living here to send their money directly to Cemex distributors in Mexico to purchase construction materials.

The City Council voted unanimously to appeal the approval of a proposed mine that would extract 56.1 million tons of sand and gravel in nearby Soledad Canyon. Tuesday's closed-session vote gives Santa Clarita lawyers the authority to challenge U.S. District Judge Dickran Tevrizian's May 3 approval of a consent decree allowing the mine. The decree was reached by Los Angeles County, Mexican mine developer Cemex Inc. and the federal government, which issued the mining permit.

Southern California's unrelenting appetite for sand and gravel to build roads, houses and schools has led a multinational mining company to the hills above Santa Clarita. But the very growth that drives the demand for gravel is also fueling a major backlash by residents of the area who fear more mining will ruin their community. Mexico-based Cemex Inc., wants to mine 69 million tons of material from Soledad Canyon, about a mile from upscale housing developments in Valencia.

On a parched hillside here in central Mexico, workers labor around the clock extracting one of the world's most coveted commodities. It isn't sold by the ounce on international exchanges, but in 110-pound bags in home improvement stores. The product is cement, a mixture of iron oxide, gypsum, clay and the reddish limestone quarried from these slopes about two hours southeast of Mexico's capital. Not exactly the stuff of a prospector's dream.

Mexican cement giant Cemex said Monday that it planned to purchase England-based RMC Group, the world's biggest supplier of ready-mixed concrete. The deal calls for Cemex to pay $4.15 billion and assume $1.7 billion of RMC's debt. Cemex said the addition would make it the world's largest concrete company, with revenue of more than $15 billion. RMC directors have agreed to the acquisition, which is subject to approval by shareholders and regulators.

The city of Santa Clarita has sued Los Angeles County over a massive sand and gravel mine proposed for east of the city, alleging the county's approval of the project violated California environmental quality laws. The lawsuit, filed Friday in Los Angeles County Superior Court, opens a new legal front in the bitter fight over the mine, which is opposed by numerous civic groups and local governments in north Los Angeles County.

The Los Angeles County Board of Supervisors voted 3 to 2 Tuesday to approve the terms of a federal consent decree allowing a 56.1-million ton gravel and sand mine near Santa Clarita. The proposed mine, to be built by Mexican concrete giant Cemex Inc., has generated intense opposition from residents concerned about air quality and other environmental issues.

The City Council voted unanimously to appeal the approval of a proposed mine that would extract 56.1 million tons of sand and gravel in nearby Soledad Canyon. Tuesday's closed-session vote gives Santa Clarita lawyers the authority to challenge U.S. District Judge Dickran Tevrizian's May 3 approval of a consent decree allowing the mine. The decree was reached by Los Angeles County, Mexican mine developer Cemex Inc. and the federal government, which issued the mining permit.

A company planning a massive gravel mine near Santa Clarita sued Los Angeles County on Friday, alleging that local officials have violated federal rules by delaying the project. The lawsuit was filed in U.S. District Court by Cemex, the parent company of Azusa-based Transit Mixed Concrete. It seeks to force the county Board of Supervisors to approve the project and pay unspecified damages.

A federal judge approved plans Monday for a mine that would extract 56.1 million tons of sand and gravel from a canyon near Santa Clarita, despite the objections of environmental groups and local governments. Opponents say the project would adversely affect air quality, traffic and water supplies in north Los Angeles County. The decision was hailed as a victory by Brian Mastin, spokesman for the Mexican concrete company Cemex, which holds the federal mineral rights for the project.

A federal judge approved plans Monday for a mine that would extract 56.1 million tons of sand and gravel from a canyon near Santa Clarita, despite the objections of environmental groups and local governments. Opponents say the project would adversely affect air quality, traffic and water supplies in north Los Angeles County. The decision was hailed as a victory by Brian Mastin, spokesman for the Mexican concrete company Cemex, which holds the federal mineral rights for the project.