Cement News tagged under: Cemex
IFC grants Cemex EUR106m "green" loan13 July 2016, Published under Cement NewsThe International Finance Corp (IFC) has granted Cemex a loan of EUR106m to support the company’s sustainable development investment in emerging markets. After a thorough assessment of Cemex’s environmental, governance and social practices, the IFC will grant CEMEX funding for projects designed to enhance environmental performance that were completed in 2014 & 2015 as well as ongoing during 2016 which are part of the capital expenditure plan previously communicated by Cemex. Around 60... |
Puerto Rico: Cemex agrees penalties for MSHA safety violations11 July 2016, Published under Cement NewsThe US Department of Labor’s Mine Safety and Health Administration announced that Cemex de Puerto Rico has agreed to pay US$291,722 in penalties and implement enhanced safety measures at its three MSHA-regulated facilities in Puerto Rico. The settlement resolves 119 citations and orders issued for safety violations at the company’s Ponce Cement plant and Cantera Canas mines. MSHA issued the citations and orders for a wide variety of violations, including obstructed and unsafe travel ways an... |
Cemex04 July 2016, Published under Cement NewsCemex is to float a 45 per cent minority in Cemex Holdings Philippines on the Philippine Stock Exchange during July. The group is expecting to raise around US$507m. The proceeds will be used to reduce net debt. |
Deadline day reached for Lafarge India bids04 July 2016, Published under Cement NewsToday (4 July) sees the passing of the deadline by which bidders must submit binding offers for Lafarge India's assets. According to press sources, five companies – three domestic and two foreign – are in the running for the facilities, which include production capacity of 11Mta. The five firms submitting their bids today are: Cemex, Anhui Conch, JSW Cement, Piramal Enterprises and the Nirma Group. Of the five, only JSW Cement has a significant presence in the Indian market: the company h... |
Cemex IPO values Philippines subsidiary at US$536m30 June 2016, Published under Cement NewsCemex has today announced that it will price shares in its subsidiary, Cemex Holding Philippines, at PHP10.75 (US$0.23), valuing the operation at around US$536m. Reuters News quotes Eduardo Francisco, president of underwriter BDO Capital & Investment Corp as stating: “That's good so there will be more upside and to ensure more demand post-listing”. Mr Francisco added that the offering was already oversubscribed. The valuation comes at the low end of the range earlier indicated by Cemex... |
Cemex stock falls over Brexit fears28 June 2016, Published under Cement NewsCemex saw a further day of losses at the Mexican Stock Exchange (BMV). Since Friday, its shares have fallen 14.74 per cent following the announcement of the UK’s departure from the EU. On Monday, shares fell 5.6 per cent to close at a price of MXN10.61 (US$0.56)/share. The fall is attributed to the potential impact of Brexit on the company’s UK operations following the surprise result of the referendum held on Thursday, explained Marco Medina, analyst at Grupo Financiero Ve por Mas. He ad... |
Cemex celebrates Panama Canal expansion inauguration28 June 2016, Published under Cement NewsAs the Panama Canal expansion was successfully inaugurated on Sunday, Cemex celebrated along with other suppliers and local dignitaries. The company supplied close to 1Mt of specially-developed cement for the project. “CEMEX congratulates the Government, the Panama Canal Authorities, and especially the Panamanian people for the key role they played in this iconic project, which will change the dynamics of global trade and economy,” said Fernando A. Gonzalez, CEO of CEMEX. “Our ability to... |
Philippines: Cemex Holdings Philippines IPO will raise US$526m20 June 2016, Published under Cement NewsCemex Holdings Philippines (CHP), a subsidiary of Cemex, will on Tuesday launch an initial public offering to raise up to US$526m, reports Reuters. The offering would mark the Southeast Asian nation's second and biggest IPO so far this yea r. Cemex Holdings Philippines has secured US$125m from seven cornerstone investors for the IPO, IFR said. Cemex aims to invest US$300m to open additional capacity in the Philippines in 2019. “The new capacity will become operational by the second hal... |
Market analysts upgrade outlook for Cemex shares17 June 2016, Published under Cement NewsCemex SAB de CV was upgraded by analysts at Scotiabank from a "sector perform" rating to an "outperform" rating in a note issued to investors on Thursday, The Fly reports. However, shares of Cemex SAB de CV traded down 2.12 per cent during trading on Thursday, hitting US$6.01. The stock had a trading volume of 1,815,899 shares. Cemex has a 52-week low of US$3.50 and a 52-week high of US$9.40. The company has a market capitalisation of US$63.41bn and a PE ratio of 375.62. The firm has a 50... |
India: Five bidders still in running for Lafarge01 June 2016, Published under Cement NewsThe Financial Express reports that Lafarge India has reduced the number of bidders vying to acquire its assets to a shortlist of five: Cemex, Anhui Conch Cement, JSW Cement, Piramal Enterprises and the Nirma Group. Of the five, only JSW Cement has a significant presence in the Indian market, although Piramal and Nirma both operate in other sectors in the country. Lafarge India’s assets amount to a capacity of 11Mta and include mining rights. The six plants included in the sale are loca... |