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UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
_______________________
FORM 6-K
REPORT OF FOREIGN PRIVATE ISSUER PURSUANT TO RULE 13a-16 or 15d-16
UNDER THE SECURITIES EXCHANGE ACT OF 1934
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Date of Report: January 19, 2006
CEMEX, S.A. de C.V.
(Exact name of Registrant as specified in its charter)
CEMEX Corp.
(Translation of Registrant's name into English)
United Mexican States
(Jurisdiction of incorporation or organization)
Av. Ricardo Margáin Zozaya #325, Colonia Valle del Campestre
Garza García, Nuevo León, México 66265
(Address of principal executive offices)
Indicate by check mark whether the registrant files or will file annual reports under cover Form 20-F or Form 40-F.
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Form 20-F |
X |
Form 40-F ___ |
Indicate by check mark whether the registrant by furnishing the information contained in this Form is also thereby furnishing the information to the Commission pursuant to Rule 12g3-2(b) under the Securities Exchange Act of 1934.
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Yes ____ |
No |
X |
If "Yes" is marked, indicate below the file number assigned to the registrant in connection with Rule 12g3-2(b):
N/A
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Contents
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1. |
Press release, dated January 19, 2006, announcing that the Mexican and U.S. governments have reached an agreement in principle to resolve the long-standing dispute over U.S. imports of Mexican cement (attached hereto as exhibit 1). |
SIGNATURE
Pursuant to the requirements of the Securities Exchange Act of 1934, CEMEX, S.A. de C.V. has duly caused this report to be signed on its behalf by the undersigned, thereunto duly authorized.
CEMEX, S.A. de C.V.
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(Registrant) |
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Date: January 19, 2006 |
By: /s/ Rafael Garza |
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Name: |
Rafael Garza |
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Title: |
Chief Comptroller | |
EXHIBIT INDEX
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EXHIBIT NO. |
DESCRIPTION |
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1. |
Press release, dated January 19, 2006, announcing that the Mexican and U.S. governments have reached an agreement in principle to resolve the long-standing dispute over U.S. imports of Mexican cement. |
Exhibit 1
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Media Relations Jorge Perez (52-81) 8888-4334
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Investor Relations Abraham Rodriguez (52-81) 8888-4262
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Analyst Relations Ricardo Sales (212) 317-6008
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UNITED STATES AND MEXICO AGREE TO RESOLVE
ANTIDUMPING ORDER ON MEXICAN CEMENT
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CEMEX will receive approximately $100 million in cash as a result of the agreement. |
MONTERREY, MEXICO, January 19, 2006- CEMEX, S.A. de C.V. (NYSE: CX) announced today that officials from the Mexican and U.S. governments have reached an agreement in principle that will bring an end to the longstanding dispute over U.S. imports of Mexican cement. Under the agreement, U.S. restrictions will first be eased during a three year transition and eliminated completely in early 2009.
Following a three-year transition period, the U.S. antidumping order will be revoked, allowing cement from Mexico to enter the U.S. without duties or other limits on volumes. During the transition, 3 million tons of Mexican cement will be allowed into the U.S. annually - an increase from current levels - and quantities will be permitted to increase as the market grows during the 2nd and 3rd years of the transition, subject to a 4.5% annual cap. Quota allocations will be specified on a regional basis. The transitional tariff will be lowered to $3/ton (from approximately $26/ton currently).
As a result of the settlement, unliquidated historical duties associated with the antidumping order will be shared by the U.S. and Mexican cement industries. CEMEX will receive approximately $100 million in cash from this settlement and will also eliminate approximately $65 million in liabilities.
CEMEX has been heavily invested in the U.S. cement industry for many years, following the Company’s acquisition of Southdown in 2000 and U.K.-based RMC, which owned assets throughout the U.S., in 2005. The settlement comes not only at a time when key litigation decisions are soon to be issued, but also at a time when the U.S. is experiencing critical cement shortages. The resolution of the antidumping order will serve to enhance trade relations between the U.S. and Mexico and create benefits for U.S. consumers and the industries of both countries.
CEMEX commends the representatives of both the U.S. and Mexican governments for working so diligently to resolve this historical dispute. Recently, the Government of Mexico has been litigating the case at the World Trade Organization (WTO), the successor organization to the GATT, and a preliminary decision was due by the end of
this month. That litigation is among the many aspects of the dispute that the agreement will settle. The agreement will also suspend the North American Free Trade Agreement (NAFTA) Panel proceeding concerning the U.S. International Trade Commission's decision in 2000 to allow the antidumping order to remain in effect. A decision in that case was expected later this year.
CEMEX is a growing global building solutions company that provides high quality products and reliable service to customers and communities in more than 50 countries throughout the world. Commemorating its 100th anniversary in 2006, CEMEX has a rich history of improving the well-being of those it serves through its efforts to pursue innovative industry solutions and efficiency advancements and to promote a sustainable future. For more information, visit www.cemex.com.
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