Cement News tagged under: Cemex

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Solid Cement borrows US$75m from related company

27 November 2018, Published under Cement News

Solid Cement, an operating subsidiary of Cemex Holdings Philippines, is borrowing US$75m of subordinated revolving credit from Cemex Asia. The money will be used to refinance existing debt, alongside funding the construction and installation of the new 1.5Mta line at the company’s Antipolo facility. Solid Cement has made an initial drawdown on this facility equivalent to approximately US$40.7m, according to the Manila Bulletin. The company has also entered into the principal project agreem...

Higher fuel and power costs affect Mexican cement producers

22 November 2018, Published under Cement News

EBITDA margins of Cemex, Moctezuma, Cementos Chihuahua and Elementia have contracted by 0.5-2 percentage points in the 3Q18  as fuel and power costs in Mexico have risen. "At least half of the increase in costs was due to increases in energy, both electricity and energy, whose prices are dollarised," said Carlos García, infrastructure analyst at Signum Research. In the case of Cemex, the company’s overall EBITDA margin fell by 1.1 percentage points to 18.8 per cent while in Mexico, its ope...

Spain’s cement producers to be included in power support plan

21 November 2018, Published under Cement News

Spanish cement producers will be included in plans to support the power-intensive industry, which is facing rising electricity bills, according to the country’s Minister of Industry, Reyes Maroto.  With this measure, the government plans to avoid new cases such as that of Cemex, which announced the closure of two of its seven cement works in the country. Cemex attributed the closure to the “increase in operating costs, mainly of fuels and electricity, the change in European CO 2 regulatio...

Cemex invests US$320m in solar energy

19 November 2018, Published under Cement News

Cemex will invest US$320m in a solar farm in Zacatecas, Mexico. The solar power plant will have a capacity of 378MW. “At cement we bring different projects and we do not rule out starting other solar farms,” said Beatriz Padilla García, business development consultant of Cemex’s energy arm.  The facility is expected to start operations next year. Electricity generated by the plant will be sold to the private sector.

Cemex creates strategic partnership with Energy Vault

08 November 2018, Published under Cement News

Cemex Research Group AG will is creating a strategic partnership with Energy Vault of Switzerland to launch the first gravity-based energy storage system. Energy vault uses a crane to lift 35t concrete blocks with excess electricity, then discharges electricity when demand requires by lowering the blocks to turn turbines. Cemex is working on material applications which include the optimisation of various concrete-based materials that will support Energy Vault's system deployments globally....

Cemex's gearing continues to decline to 89%

26 October 2018, Published under Cement News

During the first nine months of the year, Cemex cement shipments improved by 3.2 per cent to 52.69Mt, while ready-mixed concrete deliveries advanced by 3.7 per cent to 40.07Mm² and aggregates shipments by two per cent to 112.59Mt. The company’s turnover was seven per cent higher at US$10,933.1m, while EBITDA was a marginal 0.4 per cent ahead at US$1956m. The trading profit improved by one per cent to US$1330m, while the net interest charge dropped by 35.5 per cent to US$591m. The pretax prof...

Cemex Spain to close Gádor plant

17 October 2018, Published under Cement News

Cemex Spain has announced the closure of its Gádor cement plant, which has been in operation since 1977. The closure of the cement works, announced via an employment regulation fire (ERE) to the works committees at the plant, will see the employment of 100 permanent and 200 temporary workers. The step follows the earlier statement that the company will also end operations at the Lloseta facility in the Balearic Islands. Cemex has said that the restructuring is a result of the current sl...

South Ferriby Kiln 2 to start production in November

20 September 2018, Published under Cement News

Cemex plans to start up its second kiln at the South Ferriby plant in north Lincolnshire, UK, in November 2018. Initially installed in 1973, the kiln has a capacity of 1000tpd and has seen significant investment over the year to ensure compliance with environmental legislation. A recent modernisation programme has seen the renewal of electrical infrastructure, control system and instrumentation. The kiln was the first to achieve 100 per cent substitution of fossil fuels with alternative ...

Cemex would have investment grade until 2020

19 September 2018, Published under Cement News

The strategy to reduce the leverage level would allow Cemex to recover its investment grade in the first part of 2020, according to Citibanamex projections. "We expect the company to end 2018 and 2019 with a net debt/EBITDA ratio of 3.8 and 3.1 times, respectively. For the first half of 2020 the indicator would reach 3.0 times, excluding the sale of assets,” explains an analysis of the financial institution. However, the sale of assets would accelerate the process to obtain the investme...

Cemex USA acquires Texas quarry

13 September 2018, Published under Cement News

Cemex USA has purchased a limestone quarry in Chico, 45 miles northwest of Fort Worth in Texas, from Blue Star Materials II. Cemex will use the reserves which are expected to last another 25 years to supply aggregates for roads, bridges, commercial buildings, housing and other building projects in the state of Texas. The quarry covers 122ha. "The Dallas-Fort Worth area is expected to grow exponentially over the next 30 years," Cemex USA Regional President-Texas and New Mexico, Joel Galass...