Cement News tagged under: Mexico
Cemex interested in investing in INC15 October 2012, Published under Cement NewsIndustria Nacional de Cemento, has reported that Mexican cement giant Cemex has expressed an interest in investing in the Paraguayan state-owned producer. According to INC’s head, Carlos Krüssel, Cemex would transfer its technology to and possibly invest in INC. Mr Krüssel just completed a visit to a Cemex plant in Mexico to learn about Cemex’s plants and their experience in the provision of services and other products such as precast concrete. INC plans to expand its range of services a... |
Cemex sees 9% increase in 3Q12 operating EBITDA05 October 2012, Published under Cement NewsCemex said on Thursday it expects to report a nine per cent rise in operating cash flow in the third quarter of 2012, compared with the year-earlier period, although sales in dollar terms are expected to be down about two per cent. This is Cemex’s first results guidance in more than three years. The Mexican cement major said that adjusted for currency swings, sales in the third quarter were probably up three per cent from a year earlier, and EBITDA was likely 13 per cent higher. The res... |
Cemex completes refinancing deal, Mexico18 September 2012, Published under Cement NewsCemex said on Monday it has completed its plan to refinance US$7.2bn of debt and push back maturities by up to four years. Last week, the company and nearly all of its creditors finally settled on a new agreement that includes a debt swap, a US$1bn prepayment in March 2013, some asset sales, and revised financial covenants. Participating creditors will now receive about US$6.16bn in a combination of new loans and new dollar private placement notes, plus US$500m of new, high-yield notes ... |
Cemex clears refinancing deal, considers asset sales11 September 2012, Published under Cement NewsCemex will extend maturities of bank loans by three years after its restructuring offer won acceptance from creditors holding 92.6 per cent of the debt. The offer had to be accepted by 91 per cent of creditors to go through after the threshold was lowered from an initial 95 per cent, and the transaction is expected to become effective in the following weeks, the company said in a statement. Cemex plans to sell US$500 of new 9.5 per cent senior notes due in 2018 as part of the exchange. ... |
Mexico: Cemex shares climb on asset sale plan24 August 2012, Published under Cement NewsCemex SA shares outperformed the broader Mexican equity market Wednesday, rising as much as seven per cent after the Mexican cement maker said it plans to sell a minority stake in its Latin American assets through a listing on Colombia's stock exchange. The sale, aimed at reducing Cemex's debt, will not include assets in its homebase. Cemex's shares trading in Mexico City were recently up 4.8 per cent. |
Cemex bolstered by improving US sales30 July 2012, Published under Cement NewsCemex has reported an improved profit line for the first-half of 2012, as sales from its US division move into long-awaited positive territory signalling that the debt-laden producer could be heading in the right direction despite declines in its two biggest markets of Mexico and Europe. The company's first half turnover declined by 2.1 per cent to US$7373.1m but EBITDA improved 9.4 per cent to US$1273.2m and the trading profit rose 40.7 per cent to US$611.9m. Meanwhile, in the second-qua... |
Cemex creditors agree to US$421m new notes swap25 July 2012, Published under Cement NewsCemex said on Tuesday that creditors had so far agreed to swap debt holdings for US$421m of new high-yield notes as part of its plan to refinance its debt burden. Reuters reports that the exchange offer, for up to US$500m of new 9.5 per cent notes due in 2018, is part of a plan Cemex aims to conclude in the third quarter of this year to gain breathing room ahead of the maturing of US$7.25bn in debt in 2014. The offer, which was launched early this month, ends on 20 August. The US$421m figu... |
US operations boost Cemex’s second quarter results23 July 2012, Published under Cement NewsCemex has reported its highest quarterly EBITDA since the third quarter of 2009 as a pick-up in US operations helps to offset declines in Europe and Mexico. Net sales reached US$3.9bn during the second quarter of 2012, an increase of 1% on a like-to-like basis for the ongoing operations and adjusting for currency fluctuations, versus 1Q11. Operating EBITDA increased by 11% during the quarter to US$702m versus the same period in 2011. On a like-to-like basis, operating EBITDA increased by ... |
Cemex seen reporting improved 2Q results20 July 2012, Published under Cement NewsCemex is expected show improvement in its second-quarter results as recovering US operations offset weakness in Europe, although a stronger US dollar is likely to limit sales in dollar terms and contribute to a net loss for the period. The company will probably report sales of US$4.03bn for the April-June quarter, according to the median estimate of six equities analysts consulted by Dow Jones, little changed from US$4.09bn in the year-ago period. EBITDA probably increased to US$669m ... |
Cemex to increase Mexican cement prices16 July 2012, Published under Cement NewsCemex announced that it is to increase cement prices in Mexico by an average of six per cent per bag as of today. The company said the hike, which was announced last week, is due to rising input costs. "In order to compensate for the constant increase in rates and prices of major inputs, Cemex announced its dealers an average price increase of MXP120 /t (US$9) of grey cement, equivalent to an increase of six pesos per bag, from next Monday 16 July." Increases in petcoke, fuel oil and ... |