Cement News tagged under: Cemex Espana

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Caribbean Cement signs two loan agreements with Cemex España

01 June 2018, Published under Cement News

Caribbean Cement Co Ltd has signed two loan agreements valued at US$102m with Cemex España, which will be used for the repurchase of assets at its Rockfort facility. The loans will be mainly used to acquire kiln five and mill five, according to The Gleaner. The assets will be acquired from the company’s immediate parent, Trinidad Cement Ltd. "The remainder, if any, will be used for general corporate purposes," said Caribbean Cement in a market filing. Cemex SAB de CV, parent of Cemex Espa...

Ireland: cement firms make windfall profits from ETS permits

18 April 2016, Published under Cement News

CRH, Lagan Cement and Quinn Cement have together made EUR128m (US$145m) through the sale of permits under the EU emissions trading scheme (ETS).  On Sunday, the Irish Independent reported that the three firms were allocated credits on the basis of a prediction that demand would rise by 30 per cent between 2007 and 2012. The impact of the financial crisis instead caused demand to drop by over 60 per cent, allowing the companies to sell off their un-needed carbon credits. Donal O'Riain o...

Cemex to appeal Spanish fine

07 April 2014, Published under Cement News

Cemex said Spanish tax authorities have fined its Spanish subsidiary EUR455m (US$620m) following an audit of the unit's tax returns for the years 2006 through 2009. Cemex Espana plans to appeal the fines, the company said Friday in a filing with the Mexican Stock Exchange. If the appeals are not resolved in the company's favor, this matter "could have a material adverse impact on our operating results, liquidity and financial situation," Cemex added. The Spanish unit of Cemex h...

Cemex announces offering of senior secured notes

25 March 2014, Published under Cement News

Cemex announced today that Cemex Finance LLC (the Issuer), an indirect wholly-owned subsidiary of Cemex España, intends to offer senior secured notes in one or more series denominated in euros, subject to market and other conditions. Contemporaneous with the offering of the euro notes, the Issuer also may offer senior secured notes in one or more series denominated in US dollars, subject to market and other conditions, the company said in a statement. Cemex intends to use the net proceeds...

Cemex Spain says it complies with tax obligations

26 November 2013, Published under Cement News

Cemex Spain has made the following clarifications regarding information published in the media concerning the inspection process opened by the Tax Agency: Cemex scrupulously complies with all legal and tax obligations in Spain, without having debt with or being sanctioned by the Spanish tax authorities to date. Cemex has learned through the media of personnel movements within the Tax Agency and does not weigh the decisions that the authority, in the internal order, adopted. The com...

Cemex Espana adjusts downsizing plan

27 November 2012, Published under Cement News

Cemex Espana is to adjust its downsizing plan for its domestic operations from the initial 370 planned job buts to 280.  The 25 per cent reduction came as a result of an agreement reached between the company's management and trade unions. The employees to be affected by the staff-reduction measure account for 16 per cent of all 1740 in Spain at present. The laid-off employees will receive severance pays of 30 days per every year of work but not more than 22 monthly salaries. The staff ad...

Cemex Espana increases offer for Readymix, Ireland

07 February 2012, Published under Cement News

The Spanish unit of Cemex has increased its takeover bid for Readymix of Ireland by 13.6 per cent from EUR0.22/share to EUR0.25/share, the target company said in a statement on Monday. Cemex, which already owns 60 per cent of the Irish business, made the “possible offer” to buy the remaining 40 per cent of Readymix shares that it does not own last month through a Spanish subsidiary. A statement yesterday added that the committee has told Cemex that it would recommend the offer to share...

Readymix considers Cemex Espana offer

03 February 2012, Published under Cement News

A sub-committee of the board of Readymix is considering Cemex’s EUR9.5m offer to by the outstanding 40 per cent of the company it does not own via its Spanish subsidiary. The Irish Times reports that Readymix chairman Adrian Auer and independent director Donal O’Connor are considering the approach and working on a response. Readymix yesterday said that it expected total losses for 2011 to reach €54m.

Cemex in talks with Ireland’s Readymix for buyout

20 January 2012, Published under Cement News

Readymix plc announced it had begun talks with Cemex Espana which has expressed interest in taking full control of the company. In a statement, Readymix said it had been informed by Cemex Espana’s Readymix Investments that it would be ready to make a EUR0.22/share cash offer to buy the shares not already owned by the Cemex Group. Readymix noted that Cemex’s approach was preliminary and a formal bid was not certain to emerge. Readymix has been been facing difficult trading conditions...