Carlos Slim is not one to waste any time.
Having only announced three months ago that Elementia, his building materials conglomerate, would enter the cement-making business, the world’s richest man on Wednesday announced plans to scale up the unit by teaming up with Lafarge, the world’s largest cement maker. Read more
Take one look at Mexico’s corporate landscape, and one of the first conclusions is that each of the business sectors is dominated by one or, more commonly, two groups.
The resulting lack of competition is a constant theme in discussions on why the economy has not performed better during the last decade or more. But Tuesday brought a small but important sign that things may slowly be changing: Elementia, an industrial conglomerate partly owned by Carlos Slim, the Mexican billionaire, announced that it would enter the country’s cement market. Read more