Mexico's Cemex signs 10-yr outsourcing deal with IBM

MEXICO CITY (Reuters) - Mexico's top cement maker Cemex said on Monday it has signed a 10-year outsourcing deal with IBM that will help it save close to $1 billion during the life of the contract.

International Business Machines Corp will provide Cemex with business process and information technology services. It will also include finance and accounting, and human resources back-office services, the companies said in a joint statement.

"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," Chief Executive Lorenzo Zambrano said.

The company, which was swamped by the 2008 U.S. housing meltdown shortly after paying out some $16 billion to buy Australian peer Rinker, has been working its way out of deep debt obligations for the past three years.

(Reporting By Cyntia Barrera Diaz;editing by Sofina Mirza-Reid)

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