As part of his company’s centennial anniversary celebration, Cemex S.A.B. de C.V. Chairman and CEO Lorenzo Zambrano (center, top photo) rang the New York
CP staff
As part of his company’s centennial anniversary celebration, Cemex S.A.B. de C.V. Chairman and CEO Lorenzo Zambrano (center, top photo) rang the New York Stock Exchange Opening Bell late last month. We began operations in 1906, and through disciplined, careful planning have expanded into more than 50 countries and become one of the largest building materials companies in the world. This company has a rich, storied past and even more promising future, he noted in a statement.
Shaping that future would be a takeover of Rinker Group, which Cemex proposed in a $65/share bid on Oct. 27, the business day prior to the bell ringing. The $12.8 billion offer was made one day shy of the third anniversary of Rinker CEO David Clarke (center, right photo) ringing the Opening Bell to mark the NYSE listing of Rinker shares. Investors have solidly endorsed Rinker management since; shares during 2006 have traded in a range of two to nearly four times higher than their October 2003 price. After the Cemex bid, shares rose to a $71-$72 level, with investors awaiting response from the Rinker board.