Cemex, S.A. de C.V. announced that its consolidated net sales for the fourth quarter of 2004 were US$2.0 billion, 12% higher than in the same period of 2003. This increase is said to be due to higher cement and ready-mix volumes in most of the company's markets, and a stronger Mexican peso and euro during the quarter. Consolidated cement sales volumes remained flat during the quarter, reaching 16 million metric tons, while ready-mix volumes increased 10% to 6.0 million cu meters.

Cemex's Mexican operations reported net sales of US$721 million, 9% higher than in the fourth quarter of 2003. Domestic cement sales volumes for the quarter remained flat, while ready-mix volumes increased 22%. Cement demand during the years was driven mainly by government infrastructure spending and by low- and middle-income housing.

In the United States, net sales for the quarter were US$503 million, 13% higher; domestic cement and ready-mix sales volumes for the quarter grew 5% and 2%, respectively, versus fourth quarter 2003. The combination of a strong construction market throughout the year and better-than-expected December weather led to the growth. The main drivers of demand, according to Cemex, were the residential sector and the public sector. The industrial and commercial sector, which declined in 2003, made a strong recovery and grew in 2004.