Cement News tagged under: Cemex
Cemex and GCC announce offering to sell 23% stake in GCC26 January 2017, Published under Cement NewsCemex, SAB de CV and Grupo Cementos de Chihuahua, SAB de CV (GCC) announced that they will commence offerings that are expected to include an aggregate of up to 76,483,332 shares of common stock of GCC, currently owned by Cemex at a price range of between MXN95.00 to 115.00/share, Cemex currently directly owns 23 per cent of the outstanding share capital of GCC and, additionally, a minority interest in CAMCEM, an entity which owns a majority interest in GCC as a result of GCC’s previously... |
Cemex's subsidiary announces successful takeover bid for TCL25 January 2017, Published under Cement NewsCemex SAB de CV has announced that its indirect subsidiary, Sierra Trading (Sierra), having received the Foreign Investment License from the Trinidad and Tobago Ministry of Finance, disclosed that all terms and conditions of the offer made, to acquire up to 132,616,942 ordinary shares for TT$5.07 (US$0.76) in cash per share in Trinidad Cement Ltd have been complied with. "We are satisfied with and grateful for the trust placed in us by TCL stockholders,” said Fernando A Gonzalez, CEO of C... |
Ensuring long-term growth11 January 2017, Published under Cement NewsGrupo Cementos Chihuahua (GCC) is completing a key acquisition programme in the USA as it buys Cemex assets such as the Odessa cement works in Texas. ICR speaks with Ron Henley, president of GCC America. Ron Henley, president of GCC America ICR: GCC is in the process of making some major acquisitions in the USA to expand its cement portfolio. Can you describe what this means in terms of how cement capacity will increase and what the profile of the group’s plants is now like reg... |
Cemex amends Trinidad Cement bid10 January 2017, Published under Cement NewsCemex has announced that its indirect subsidiary, Sierra Trading, will present a change and variation notice making an amended offer to the offer and take-over bid of Trinidad Cement Ltd (TCL) that was presented on 5 December 2016. The acquisition of up to 132,616,942 ordinary shares in TCL paired with its existing share ownership in TCL of approximately 39.5 per cent, will result in Sierra Trading holding up to 74.9 per cent of the equity share capital in TCL. Pursuant to the amended ... |
Trinidad Cement directors recommend rejection of Cemex bid04 January 2017, Published under Cement NewsThe board of directors of Trinidad Cement Ltd (TCL) has written to shareholders advising them to reject Cemex's TTD597m (US$89m) offer for a controlling interest in the company, the Jamaica Observer reports. “The company (TCL) has experienced a turnaround after multiple past efforts to do so. The evidence of the turnaround is supported by the company’s return to sustainable profitability in 2015 and continuing to produce positive net income throughout 2016,” said the directors in their le... |
France: Cemex highlights involvement in Grand Paris project21 December 2016, Published under Cement NewsCemex has released details of its work on the Grand Paris infrastructure project, the largest such programme in France. The company has supplied over 55,000m 3 of concrete for the extension of the Paris Metro, participated in the construction of the ZAC Clichy Batignolles Development Area and provided logistical support for the whole development. “We are proud to participate in monumental projects like the Grand Paris, which will not only reshape the iconic city of Paris, but also improv... |
Dominican Republic: Cemex starts solar tender process for San Pedro de Macorís20 December 2016, Published under Cement NewsCemex has opened tendering process for its new photovoltaic solar plant at San Pedro de Macorís in the Dominican Republic. The cement producer is looking for a company that can build and operate its new 13MW solar power plant and sell the output to Cemex. In 2014 Cemex opened its first solar farm with a capacity of 1.5MW. This was followed by an electricity supply agreement to provide its San Pedro de Macorís cement plant with wind power. |
Cemex closes sale of Ventika stake16 December 2016, Published under Cement NewsCemex announced that the company closed the divestment of its interest in the Ventika wind farm project. The Mexico-based cement producer sold its minority interest for around US$35m, with the proceeds of the transaction used mainly for debt reduction and general corporate purposes. Ventika’s entire equity is now owned by IEnova, part of Sempra Energy. Cemex Energia will remain as the manager of the Ventika windfarm facilities. |
Mexico: Cemex increases cement price 11%15 December 2016, Published under Cement NewsCemex notified its distributors that from January 2017 it will increase the price of grey cement by around 11 per cent nationwide. Other producers such as Holcim and Cruz Azul are following suit with similar price rises of around MXN300 (US$14.60) Distributors of Construramas, Cemex’s chain of shops in Nuevo Léon and other Mexican states said the latest price rise will see cement at MXN2740-3000/t. Retail customers in Nuevo Léon will see the price of a 50kg bag of cement rise by MXN155-172... |
Cemex targets TCL acquisition09 December 2016, Published under Cement NewsThis week Cemex launched a bid to acquire Trinidad Cement Co Ltd (TCL) via its subsidiary Sierra Trading, which would consolidate the strength of Cemex in the region, while providing investment for the Caribbean cement sector. The interest in TCL by Cemex is long held and the Mexican multinational already has 39.5 per cent of the shareholding in TCL group via Sierra Trading. Cemex now aims to acquire up to 132,616.942 ordinary shares in TCL for TTD4.50 per share, which if successful, tog... |