Cement News tagged under: Cemex
Philippines: infrastructure rebuild to drive cement demand23 March 2017, Published under Cement NewsPresident Rodrigo Duterte’s infrastructure overhaul is expected to drive demand for cement and create a “multiplier effect” in the construction sector, according to an official at Cemex. As the government builds more roads, bridges, railways and airports, the private sector will match this with new houses and commercial spaces, said Cemex Holdings Vice President for Investor Relations, Paul Arcenas. Cemex told the stock exchange on Thursday that its unit, APO Cement Corp, has partnered... |
Cemex will not supply border wall20 March 2017, Published under Cement NewsMexico-based Cemex says it will not participate in construction of President Donald Trump's border wall. The company has been viewed as a potential beneficiary of President Trump’s plans, but Cemex has come under intense pressure at home to boycott the multi-billion-dollar project. According to the US General Services Administration's Federal Business Opportunities website, Cemex has not registered as a potential government contractor for the border barrier. Last week, company spokesma... |
Cemex launches Cemex Ventures20 March 2017, Published under Cement NewsCemex has announced the launch of Cemex Ventures, the company's open innovation and venture capital unit. According to a statement by the company, Cemex Ventures will develop opportunities in key focus areas outside of Cemex’s core business, such as urban development, connectivity improvements within the construction value chain, new construction trends and technologies, and the creation and development of new project finance resources. What sets Cemex Ventures apart is its flexible appr... |
Cemex retains 9.5% of GCC16 March 2017, Published under Cement NewsCemex SAB de CV said that some of its underwriters did not exercise their over-allotment option to acquire shares in Mexico’s Grupo Cementos de Chihuahua SAB de CV. As a result, Cemex retains a direct stake of 9.47 per cent in GCC. Originally, Cemex aimed at offloading 23 per cent of GCC but only managed to sell a stake of 15.6 per cent, equivalent to 51.75m shares at MXN95 (US$4.83)/share. This shareholding also included a green shoe option and Mexico’s market leader was expected to ... |
Cemex will ‘gladly’ supply materials for Trump border wall02 March 2017, Published under Cement NewsCemex board Chairman, Rogelio Zambrano, has stated that Cemex would be happy to give estimates for the supply of cement to companies building the US-Mexico border wall, Reuters reports. Last Friday the US government said that it would release a request on or around 6 March, inviting companies to submit designs for the new wall. "If one of our clients asks us for a quote for materials, we have the responsibility to do it," a Cemex spokesman said but added that no such request had yet be... |
USA: Cemex Fairborn plant and terminal is sold to Eagle Materials13 February 2017, Published under Cement NewsCemex has announced that one of its subsidiaries in the US has closed the divestment of its Fairborn (OH) cement plant and cement terminal in Columbus (OH) to a subsidiary of Eagle Materials Inc for around US$400m. The proceeds obtained from this transaction will be used mainly for debt reduction and for general corporate purposes. Bank of America Merrill Lynch acted as financial advisor to Cemex in this transaction. |
Cemex's consolidated 4Q16 and full year 2016 report10 February 2017, Published under Cement NewsCemex, SAB de CV announced that on a like-to-like basis for the ongoing operations and adjusting for currency fluctuations, consolidated net sales increased by four per cent during the fourth quarter of 2016 to US$3.2bn, and increased four per cent for the full year 2016 to US$13.4bn, versus the comparable periods in 2015. Operating EBITDA on a like-to-like basis increased by 10 per cent during the 4Q16 to US$654m and increased by 15 per cent for the full year to US$2.7bn versus 2015. ... |
Trinidad Cement upgraded by ratings agencies03 February 2017, Published under Cement NewsRatings agencies Fitch and Standard and Poor’s have upgraded their evaluations of the credit-worthiness of Trinidad Cement Ltd (TCL), the Trinidad Express reports. Fitch moved its rating up two places, from B- to B+, while Standard and Poor’s moved the company to B grade. Fitch explained that Cemex’s decision to increase its stake in the firm to 67 per cent would have a positive impact on TCL, expanding the options available to it in both marketing and finance. Over the past five ye... |
Cemex sells concrete pipe business01 February 2017, Published under Cement NewsCemex has completed the sale of its reinforced concrete pipe business to Quikcrete Holdings. The transaction was carried out for around US$500m, including a potential additional US$40m depending on future results. Cemex will use the funds to reduce its debts as well as for general corporate purposes. |
Cemex rating upgraded by S&P Global Ratings31 January 2017, Published under Cement NewsCemex announced today that S&P Global Ratings (S&P) upgraded its corporate credit rating in its global scale to BB- from B+. According to S&P, the upgrade reflects the company's sustainable deleveraging trajectory, improved profitability and its financial discipline to protect its liquidity. "We are pleased to see our discipline and consistency in reducing our leverage reflected in an improvement in our credit rating," said Jose Antonio Gonzalez, Cemex’s chief financial officer. “This sh... |