MEXICO CITY (AP) — Mexican cement giant Cemex says it pared its losses by 10.5 percent in the second quarter to $187 million, down from $209 million in the same period last year.
Cemex says net sales increased in the second quarter to $3.9 billion, up 1 percent over the first quarter of 2011.
A Cemex statement released Friday said the company's total debt dropped by $529 million during the quarter.
Sales were up 15 percent in the United States but down 14 percent in Mexico and 18 percent in northern Europe.
Sales dropped 20 percent in the Mediterranean but rose by the same amount in South and Central America and the Caribbean. Cemex has suffered annual losses due to the worldwide construction downturn and the heavy debt load the company assumed during an intense period of acquisitions.
