Cemex CEO sees boost from U.S. recovery in 2010

By Robin Emmott and Gabriela Lopez

MONTERREY, Mexico (Reuters) - Mexico's Cemex expects its U.S. cement volumes to grow next year as the U.S. housing market recovers and the company aims to extend its debt maturities, Chief Executive Lorenzo Zambrano said on Friday.

Zambrano, credited with turning Cemex (CMXCPO.MX) (CX.N) into the world's No. 3 cement maker, said that according to the Portland Cement Association, which represents companies in the United States and Canada, cement sales volumes are seen up 5 percent next year.

"My gut feeling is that in the five months ahead of the (2010) mid-term U.S. elections, we will see a lot more activity," Zambrano said in an interview at his offices in the northern industrial city of Monterrey.

Cemex became the top cement company in the United States in 2007 after purchasing Australia's Rinker for $16 billion. That saddled Cemex with a huge amount of debt.

Zambrano, 65, said Cemex would be able to pay its $15 billion bank and bondholder debt as it agreed in August, but he said the company would seek to extend maturities beyond 2014 by possibly issuing a bond.

"We will pay our debt as planned. However, we want, and will seek, to extend debt (maturities) as much as possible," he said.

"We could issue long-term debt and with that prepay the banks," he said, adding that any bond could be out to up to 10 years.

(Reporting by Robin Emmott and Gabriela Lopez)