Spanish cement company Cementos Alfa will delist from the Madrid stock exchange on November 25, 2004, the company said on November 15, 2004.   The company will buy back the 16,793 shares, equal to 0.746 per cent of its capital, currently sold on the stock exchange at a price of Euro 60 ($77.6) per share. Cementos Alfa is listed only on the Madrid stock exchange. The company’s majority shareholder is Cementos Portland Valderrivas, a subsidiary of Spanish construction and services group Fomento de Construcciones y Contratas SA (FCC), which holds 76 per cent.