IBM cements $1bn outsourcing deal
Cemex, which was swamped by the collapse of the US housing market after paying out some $16 billion to buy Australian peer Rinker, has been working its way out of a deep debt hole for the past three years.
Cemex chief financial officer Fernando Gonzalez told Reuters that the outsourcing deal with IBM would likely affect between 1 500 and 2 000 jobs, which he said was a preliminary estimate.
4-traders quotes Lorenzo H Zambrano, chairman and CEO of Cemex, as saying: “Through this agreement, we reinforce our commitment to transform Cemex into an increasingly flexible, agile, and competitive global company.
“Moreover, this agreement with IBM will enable Cemex to focus on its core businesses of cement, ready-mix concrete, and aggregates; improve its financial position; and respond more quickly to changing market needs.”
The deal marks a key win for IBM's outsourcing unit, which of late has suffered from slow growth and the loss of some high profile contracts. Cemex VP, Roberto Chaverri said Cemex considered 17 vendors for the work but ultimately settled after internal reviews, reports Information Week.
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