Cement News tagged under: Cemex
Cemex to invest in seven energy projects01 April 2016, Published under Cement NewsCemex has plans for seven energy projects in Mexico, including wind parks, according to its CEO, Fernando González Olivieri. The structure of the investment would run along similar debt-to-equity lines as used in the construction of the Ventika wind farm, promoted by Cemex and Fisterra Energy, a Blackstone subsidiary. Some 75 per cent of funds were contributed by NadBank, Banobras, Nafin, Bancomext and Santander. The balance was met by Fisterra, Cemex and other investors with Cemex investi... |
Cemex divests of Bangladesh and Thailand units, potential sale of minority stake in Philippine assets11 March 2016, Published under Cement NewsCemex announced yesterday that it has signed an agreement for the sale of its operations in Bangladesh and Thailand to Siam City Cement Co for approximately US$53m. Meanwhile, Cemex's Philippine subsidiary has presented an application to Philippine authorities for the potential sale of a minority stake of assets in the southeast Asian country. Bangladesh and Thailand divestitures Proceeds obtained from the Bangladesh and Thailand transaction will be used mainly for debt reduction and for ... |
Cemex announces pricing of US$1bn in Senior Secured Notes10 March 2016, Published under Cement NewsCemex announced today the pricing of US$1bn of its 7.750 per cent Senior Secured Notes due 2026 denominated in US Dollars. The notes will bear interest at an annual rate of 7.750 per cent and mature on 16 April 2026. They will be issued at a price of 99.986 per cent of face value and will be callable commencing on 16 April 2021. The closing of the offering is expected to occur on 16 March 2016, subject to satisfaction of customary closing conditions. Cemex intends to use the net proceeds f... |
Cemex obtains required consents to amend its credit agreement08 March 2016, Published under Cement NewsCemex announced yesterday that, in line with the company's current initiatives of enhancing financial flexibility and reducing risk, it has obtained the required consents to amend its facilities agreement dated 29 September 2014, as amended and restated to delay the scheduled tightening in its consolidated financial leverage and coverage ratio limits by one year. The formalisation of the amendment is subject to customary conditions and is expected to be finalised in the following days. ... |
Mexico: cement prices rise 6.7% in 201525 February 2016, Published under Cement NewsCement prices in Mexico have risen 6.7 per cent in 2015, according to the National Institute of Statistics and Geography (INEGI). It is the highest price advance recorded since 2008. The increase has been attributed to the strength of the US dollar vs the Mexican peso. In 2015 Cemex, the largest cement producer in the country, hiked its prices by 10 per cent to protect its margins, a step which was quickly followed by other cement companies. In 2014 Cemex raised its prices by two per cent... |
Cemex outlines 2016 investment spend08 February 2016, Published under Cement NewsCemex plans to invest US$700m in various maintenance and expansion projects in 2016, according to Fernando González, CEO of Cemex. Of the total sum US$450m will be allocated to plant maintenance while the balance will be invested in expanding its current operations, repositioning of stock and a new plant in Colombia. In 2015 Cemex carried out a cost reduction programme, along with increasing its cash flow and selling assets. This resulted in a gain of US$75m, the first net profit in six ... |
Cemex reports positive net income for the first time in six years05 February 2016, Published under Cement NewsCemex announced yesterday that, on a like-to-like basis for the ongoing operations and adjusting for currency fluctuations, consolidated net sales increased by two per cent during 4Q15 to US$3.4bn, and increased five per cent for the full year 2015 to US$14.1bn versus the comparable periods in 2014. Operating EBITDA on a like-to-like basis increased by seven per cent during 4Q15 to US$663m, and by nine per cent for the full year to US$2.6bn versus 2014. Cemex said the increase in consolidat... |
Spain: Cemex Lloseta sees 13,730t CO2 reduction29 January 2016, Published under Cement NewsCemex’s Lloseta plant in Spain reduced its CO 2 emissions by 13,730t in 2015, the company announced on the occasion of the UN World Day for Carbon Emissions Reduction, which took place on 28 January 2015. Reducing the impact of industrial activities on the environment is one of the main commitments made by Cemex, according to the company. It has an environmental policy strategy to achieve “a low-carbon industry and an efficient use of resources". The three main objectives of Cemex to c... |
Cemex announces retirement of Vice President of Energy28 January 2016, Published under Cement NewsCemex has announced that its current Vice President of Energy, Luis R Faris Martinez will retire from office. He will leave the company with effect from 1 February 2016, said the cement company in a filing to the Mexican Stock Exchange. The company did not disclose the reasons for the separation nor who will take Mr Faris Martinez’s place. |
Cemex sets Dominican production record22 January 2016, Published under Cement NewsCemex has achieved a production of 2.2Mt of cement in its San Pedro de Macorís plant in the Dominican Republic. The figure is significantly above the rolling average of 1.8Mt of the past five years. "We have continued to strengthen our operations in Dominican Republic, enabling us to take advantage of the significant growth in the level of construction activity. Having achieved this new production record shows our commitment to the country, where we have created the conditions to contribu... |