Cement News tagged under: Cemex

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Cemex sells Broceni plant and Nordic assets to Schwenk Zement

20 February 2019, Published under Cement News

Cemex has announced that it has signed an agreement for the sale of assets in the Baltics and Nordics to Schwenk Zement for approximately EUR340m. The Baltic assets being divested consist of the 1.7Mta Broceni cement plant in Latvia, four aggregates quarries, two cement quarries, six ready-mix plants, one marine terminal and one land distribution terminal in Latvia. The assets divested also include Cemex's approximate 38 per cent indirect interest in the 1.8Mta Akmene cement plant in Lithu...

Cemex to establish distribution centre in northern Spain

15 February 2019, Published under Cement News

Cemex plans to build its first distribution centre in the north of Spain at Olano Wharf. The company has applied for a 2500m 2 concession in the port of El Musel for the new centre, which will incorporate a bagging plant and silos. Cemex already has a significant presence in the country, but only has facilities in Madrid, Aragón and the Mediterranean communities from Catalonia to Andalucia, the Balearic Islands, Ceuta and Melilla. Now the company wants to copete with Tudela Veguín in the...

Cemex profits benefit from a lower minorities charge

08 February 2019, Published under Cement News

Cemex' turnover improved by 1.7 per cent in 2018 to US$148,374.6m, while EBITDA eased by 0.6 per cent to US$1557.9m and trading profit fell by 6.9 per cent to US$1420.9m. However, the net interest charge dropped by 37.8 per cent to US$635.6m, as borrowings were reduced, giving a pretax profit 11 per cent higher at US$805.3m. The tax charge was 7.4 per cent after the previous year’s exceptionally charge. Minorities fell by 54.6 per cent, giving a net attributable profit 32.6 per cent lower at...

Cemex Latam net sales fall 7% in 4Q18

08 February 2019, Published under Cement News

Cemex LatAm Holdings (CLH) announced consolidated net sales of US$260m in 4Q18, a fall of seven per cent on the US$278m achieved in 4Q17. Operating EBITDA reached US$39m during 4Q18, down 24 per cent YoY. Consolidated cement volumes for the 4Q18 amounted to 1,679,000t, no change from 4Q17. Consolidated grey cement volumes registered 1,489,000t in 4Q18, marginally up from 1,485,000t in 4Q17. Ready-mix volumes declined in 4Q18 to 659,000m 3 , down seven per cent from 712,000m 3 in 4Q17. ...

Cement companies show positive performance in CDP ranking

28 January 2019, Published under Cement News

International organisation CDP has released its annual ‘A List’ which names the world’s leading businesses and scores them on their approach to climate change, water security and deforestation. The ranking is from A to D-, with F indicating a failure to provide sufficient information to be evaluated. The score assesses the level of detail and comprehensiveness of the response to CDP’s questionnaire, as well as the company's awareness of climate change issues, management methods and progres...

Cemex changes management structure

16 January 2019, Published under Cement News

Cemex has announced a series of changes to its management structure which will come into force on 1 February 2019. Juan Romero Torres, current president of Cemex Mexico, has been appointed executive vice president of Global Commercial Development. This new role aims to capitalise on the progress that the company has achieved in its Customer Centricity strategy and provide it with a formal structure, according to a press release. As a result, Ricardo Naya Barba, current president of Cemex Col...

Cemex seeks terminal expansion in Florida

14 January 2019, Published under Cement News

Cemex Construction Materials Florida LLC is reportedly seeking to expand its cement terminal at the port in Tampa Bay due to increased demand for cement products, according to the Tampa Bay Business Journal. The company currently leases two sites at the port but wants to expand its cement terminal by around five acres. If approved, the new lease would see the company handle more cement, fly ash, slag and limestone over the 20-year period of the contract. According to reports, the company ...

Cemex expected to increase cement price 12-13% in new year

18 December 2018, Published under Cement News

Cemex will increase the price of cement between 12-13 per cent at the beginning of next year, according to the Mexican Association of Independent Concrete Companies (AMCI). "The Mexican Association of Independent Concrete Companies announced an increase in the price of concrete of 20 per cent as of January 2019; independent concrete producers have reported that Cemex will increase cement prices by approximately 12 per cent, "Citibanamex analysts said. However, they highlighted that althoug...

APO Cement resumes operation of kiln lines

13 December 2018, Published under Cement News

APO Cement (Cemex) has resumed operation of its two kilns at its cement plant in the Philippines, two weeks after they were closed due to the unavailability of raw materials. The manufacturer will therefore reinstate the employees who were temporarily suspended, according to BusinessWorld. In addition, the company will no longer close its terminal in Davao City.

Cemex begins share repurchase programme

29 November 2018, Published under Cement News

Cemex has begun its share repurchase programme, approved at its ordinary shareholders’ meeting for up to US$500m. "We are pleased to initiate our share buyback programme, which is one of the capital allocation options we have to create value for our shareholders," said Fernando A González, CEO. The company repurchased 7m CPOs on 27 November. The total amount of the repurchase, including commissions and VAT, was MXN65.9m (US$3.2m).