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December 17, 2008

Cemex expects 23% drop in 4Q sales

MEXICO CITY (AP) — Mexican cement maker Cemex SAB says it expects a 23 percent drop in sales during the 4th quarter amid sagging consumer confidence and the nationalization of its plants in Venezuela.

The world's third-largest cement manufacturer forecast $4.45 billion in sales during the last three months of the year, a 23 percent drop from the year-earlier period.


 
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