May 20, 2014 / 10:28 PM / 4 years ago

Mexico's Cemex seeks to regain investment-grade rating-chairman

MEXICO CITY/MONTERREY, May 20 (Reuters) - Mexican cement maker Cemex will seek to regain its investment grade rating, lost amid a debt-fueled acquisition spree, the company’s new Chairman Rogelio Zambrano Lozano said in press conference on Tuesday.

Zambrano Lozano, who was named to the job on Thursday after the sudden death of former CEO Lorenzo Zambrano last Monday, said the company’s vision and strategy would remain much the same under its new management.

Fernando Gonzalez, newly appointed as Chief Executive, said that the company will look at opportunities for acquisitions as the cement industry consolidates, but Cemex’s priority will be to reduce leverage and return to financial flexibility. (Reporting by Christine Murray, Gabriela Lopez and Elinor Comlay)

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