(New throughout, adds details on fine, background, updates
MEXICO CITY, April 4 Mexican cement-maker Cemex
said on Friday its Spanish unit had been fined 455
million euros by Spanish tax authorities after an audit led them
to question some losses reported by the company between 2006 and
Cemex said it intends to appeal the fines.
"If all appeals that Cemex Espana files are adversely
resolved, it could have a material adverse impact on our results
of operations, liquidity and financial condition," the company
said in a regulatory filing.
Cemex has been in Spain since 1992 when the Mexican company
acquired what were then the country's top two cement-makers. Its
website lists it as one of Spain's largest cement producers.
Shares in Cemex ended the day up 3.4 percent at 17.63 pesos
($1.36) before the fine was announced.
($1 = 13.0108 Pesos)
(Reporting By Gabriela Lopez and Gabriel Stargardter)