UPDATE 1-Cemex acquires concrete business in San Antonio with eye on U.S. growth
(Updates with quote, earnings context)
MEXICO CITY, Feb 16 (Reuters) - Mexican cement producerCemex said on Tuesday it had acquired a concretebusiness in San Antonio, Texas, as it looks to expand in theUnited States.
The acquisition of Beck Readymix Concrete Co. LTD includesthree ready-mix concrete plants and one portable plant, thecompany said in a news release.
Cemex did not give the value of the acquisition.
"Cemex is proactively looking for opportunities to grow ouroperations in the U.S. and adapting to meet the needs of ourcustomers," said Jaime Muguiro, president of Cemex USA.
Bolstered by rising sales in the United States and Mexico,Cemex last week reported a net income of $70 million for thefourth quarter, compared to a $238 million loss a year earlier.(Reporting by Cassandra Garrison and Miguel Gutierrez; Editingby Kirsten Donovan)
