UK cement giant set for Mexican takeover
One of the UK’s biggest industrial companies was today set for Mexican ownership after agreeing to a £2.3bn (€3.3bn) takeover offer.
Directors of Egham-based RMC – the world’s largest ready-mixed concrete producer – have backed the proposed takeover by Cemex, which follows a major restructuring by the UK company after it was hit by the construction downturn.
Cemex was founded in 1906 with the opening of a plant in northern Mexico. After expanding worldwide it was listed on the Mexico stock exchange in 1976. It is also listed on the New York stock exchange. Cemex employs 25,000 people across more than 30 countries.
RMC was started in 1930 by Danish engineer Kjeld Ammentorp – widely regarded as the founder of the UK ready mixed concrete industry. RMC employs 29,000 staff in 22 countries.
