The stock price of his cement maker TPI Polene declined 19% over the past year.

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In emerging markets one of White's top picks is Cemex, the Mexican cement maker.

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"His track record speaks for itself, " says Oscar Hilado, president of the Phinma group, the Philippines' biggest cement maker.

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One of the handful of pribumi -- indigenous -- entrepreneurs in an economy dominated by ethnic Chinese, he owns leading Java cement maker Semen Cibinong.

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The Mexican cement maker expanded into the housing slowdown affecting the United States and western European markets, and now it is paying for its aggressiveness.

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When the dust settled, two well-known expatriate business leaders attending the CastleAsia breakfast were dead: Timothy Mackay, a New Zealander who headed Swiss cement maker Holcim Ltd.

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Zambia has put over 145 state-owned companies under the hammer, ranging from a cement-maker to a dry-cleaner.

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Cement producers like Southdown (53, SDW) and wallboard maker USG Corp. (51, USG) trade at less than ten times forward earnings in a market where their main products are in short supply.

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This is the world's largest cement company, second-largest concrete firm and third-largest gypsum wallboard maker.

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For decades Tata Motors has been India's largest commercial vehicle maker--the Tata logo appears on buses, dump trucks, ambulances and cement mixers.

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