A holding company primarily engaged, through its operating subsidiaries, in the production, distribution, marketing and sale of cement, ready-mix concrete, aggregates and clinker.
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High debt levels, much of which come due this year, coupled with a global slow down and extremely difficult financing environment will destroy this company. If the Obama administration is able to push an infrastructure-based stimulus package, the cement/concrete industry will benefit only after the engineering/design work is completed. Under this (I think likely) scenario, the cement/concrete industry can look to begin a recovery in 2010. Insiders are predicting that a return to 2008 sales levels won't return until 2013 or later. Their debt levels make their survival during this prolonged downturn doubtful.