The Freeland File
Aerospace & Defense
Global Market Data
Tales from the Trail
Lucy P. Marcus
David Cay Johnston
The Great Debate
Jack & Suzy Welch
Macro & Markets
Lipper Awards 2012
Personal Finance Video
Russia's "Pussy Riot" on trial for cathedral protest
Olympics-Swimming-Medallist Lu hits out at Chinese training regimes
29 Jul 2012
Ticket backlash overshadows Games
29 Jul 2012
Colorado shooting suspect faces formal charges in court
German renewables output hits record high in H1
26 Jul 2012
Obama attacks on taxes and Bain hit Romney ratings
Colorado massacre suspect silent in first court hearing
Romney backs Israel if needs to strike Iran: aide says
Our day's top images, in-depth photo essays and offbeat slices of life. See the best of Reuters photography. See more | Photo caption
Highlights from the Opening Ceremony of the London 2012 Olympic Games. Slideshow
The Olympic Village
Where the athletes will live during the London Olympics. Slideshow
Mexico's Cemex signs 10-yr outsourcing deal with IBM
Mexico's Cemex: creditors agree to $421 mln new notes swap
Tue, Jul 24 2012
U.S. sales turnaround boosts results at Mexico's Cemex
Fri, Jul 20 2012
UPDATE 5-U.S. sales turnaround boosts results at Mexico's Cemex
Fri, Jul 20 2012
IBM raises earnings outlook despite weak tech spending
Wed, Jul 18 2012
Exclusive: HP's $600 million GM services deal at risk: sources
Fri, Jul 13 2012
MEXICO CITY |
Mon Jul 30, 2012 9:47am EDT
MEXICO CITY (Reuters) - Mexico's top cement maker Cemex (CMXCPO.MX) said on Monday it has signed a 10-year outsourcing deal with IBM that will help it save close to $1 billion during the life of the contract.
International Business Machines Corp (IBM.N) will provide Cemex with business process and information technology services. It will also include finance and accounting, and human resources back-office services, the companies said in a joint statement.
"This agreement with IBM will enable Cemex to focus on its core businesses of cement, ready-mix concrete, and aggregates, improve its financial position and respond more quickly to changing market needs," Chief Executive Lorenzo Zambrano said.
The company, which was swamped by the 2008 U.S. housing meltdown shortly after paying out some $16 billion to buy Australian peer Rinker, has been working its way out of deep debt obligations for the past three years.
(Reporting By Cyntia Barrera Diaz;editing by Sofina Mirza-Reid)
Related Quotes and News
We welcome comments that advance the story through relevant opinion, anecdotes, links and data. If you see a comment that you believe is irrelevant or inappropriate, you can flag it to our editors by using the report abuse links. Views expressed in the comments do not represent those of Reuters. For more information on our comment policy, see http://blogs.reuters.com/fulldisclosure/2010/09/27/toward-a-more-thoughtful-conversation-on-stories/
Be the first to comment on reuters.com.
Add yours using the box above.
Back to top
New York Legal
Support & Contact
Connect with Reuters
Our Flagship financial information platform incorporating Reuters Insider
An ultra-low latency infrastructure for electronic trading and data distribution
A connected approach to governance, risk and compliance
Our next generation legal research platform
Our global tax workstation
About Thomson Reuters
Thomson Reuters is the world's largest international multimedia news agency, providing investing news, world news, business news, technology news, headline news, small business news, news alerts, personal finance, stock market, and mutual funds information available on Reuters.com, video, mobile, and interactive television platforms. Thomson Reuters journalists are subject to an Editorial Handbook which requires fair presentation and disclosure of relevant interests.
NYSE and AMEX quotes delayed by at least 20 minutes. Nasdaq delayed by at least 15 minutes. For a complete list of exchanges and delays, please click here.