World News

Cemex resumes Mexico operations after brief pause due to coronavirus

MEXICO CITY (Reuters) – Mexican cement company Cemex said on Monday it would resume operations in the country, hours after announcing a pause, as fresh guidelines from the government permitted such a move.

“In accordance with the technical guidelines published today in the official Mexican gazette, the company will resume operations in Mexico to support the development and the economy of the country during the COVID-19 contingency,” Cemex said.

The company, which operates in more than 50 countries, had earlier in the day said owing to government guidelines it would suspend operations until at least April 30.

In its previous statement, Cemex also said it has improved its liquidity position with a $1.14 billion revolving credit line and by receiving almost $500 million from asset sales.

The company said it was also evaluating postponing certain investments in fixed assets meant for this year.

(Reporting by Raul Cortes Rodriguez; Editing by Kirsten Donovan and Arun Koyyur)