Cemex S.A., through its wholly owned indirect subsidiary, Cetacea Investments, will present to shareholders of Trinidad Cement Limited (TCL) a written conditional offer to acquire nearly 250 million issue and fully paid ordinary shares of (TCL). The offer represents a bid for 100% of the total issued share capital of TCL, including the shares owned by Sierra Trading, a Cemex subsidiary. The offer price will be TT$7.15 per hare, making the transaction value about US$413 million. Presently, Cemex owns about 20% of TCL, making Cemex the largest single shareholder. In 2001, TCL achieved a consolidated sales volume of 1.54 million mt of cement and 239,000 cu meters of ready-mix.