Cemex invested US$135m in its 10 years of operation in Panama, Cemex Panama manager Enzo Moshella, said on September 21, 2004. A total of US$29m were allocated for capacity increase, US$12m for environment protection programmes and US$8.0m for equipment.  Cemex started operations in Panama on September 1, 1994 after the acquisition of state-owned cement company Cemento Bayano.  Cemex products in Panama are marketed under Cemento Bayano, Flexicem, Tolteca and Cemex Concretos brands.