Cement News tagged under: Cemex
Cemex expected to receive EU clearance for Holcim Spain assets05 August 2014, Published under Cement NewsEuropean Union antitrust regulators are expected to approve Cemex’s bid to acquire Holcim’s Spanish units without requiring concessions from the Mexican producer, a source told Reuters on Monday. Cemex has convinced the European Commission that the deal will not reduce competition in Spain, a person familiar with the matter told the news agency. Another source had previously told Reuters earlier this month that the Commission had objected to the deal. Last month the European Commission... |
EC extends deadline for Cemex decision31 July 2014, Published under Cement NewsThe European Commission has extended the deadline for its decision on whether to clear or block the deal from 5 September to 12 September 2014. A source told Reuters earlier this month that the Commission had objected to the deal after a preliminary review showed that it would significantly reduce competition in certain parts of Spain. Cemex had submitted its concessions on Monday, the EU watchdog said on its website, without providing details in line with its policy. It h... |
Cemex EBITDA margin under pressure21 July 2014, Published under Cement NewsCemex' first-half turnover improved by 5.7 per cent to US$7736.5m and the EBITDA edged ahead by 1.5 per cent to US$1269.7m, while the trading profit improved by 4.5 per cent to US$721.5m. Net interest payments rose by 15.1 per cent to US$841.4m and, after other charges, there was a pre-tax profit of US$49.2m compared with a US$118.9m loss. At the net attributable level, the loss fell by 49.1 per cent to US$220.3m. Equity shareholders' funds at the end of June declined by 2.6 per cent ... |
Cemex heading towards strong earnings rebound17 July 2014, Published under Cement NewsCemex is expected to post a significant rebound in pretax earnings for the full year, driven primarily by the US recovery and an anticipated pick-up in Mexican volumes and pricing, according to JP Morgan forecasts. In a largely positive report on Latin American cement companies, JP Morgan notes: "We like the Cemex story on the back of strong growth in EBITDA…especially from the US and Mexico. Also, growing free cash flow should help to un-leverage its balance sheet. Propelled princip... |
European Commission objects to Spanish deal14 July 2014, Published under Cement NewsThe European Commission, the antitrust regulator in Europe, has objected to plans by Cemex to acquire Spanish units held by Holcim. In August last year the two cement majors reached an agreement to conduct a series of transactions to swap and combine assets in parts of Europe with the aim of improving synergies and boosting operating profit. However, a source told Reuters last week that: "The European Commission (EC) has sent a statement of objections to the companies," referring ... |
World Cup stadium built with Cemex cement25 June 2014, Published under Cement NewsCemex participated in the construction of the Arena da Amazonia soccer stadium that has hosted several competitive opening round matches of the 2014 FIFA World Cup including England vs Italy, USA vs Portugal, and Honduras vs Switzerland in the northern city of Manaus, Brazil. Designed by the internationally recognized architectural firm of Von Gerkan, Marg and Partners (GMP), the new 170,000m2 stadium (pictured right) has the capacity for more than 43,000... |
Cemex invests in Dominican Republic operations19 June 2014, Published under Cement NewsCemex is carrying out investments DOP989m (US$22.75m) worth of investments in the Dominican Republic to improve energy efficiency as well as enhance bagging and distribution capabilities. Some DOP800m will be invested in the company’s San Pedro de Macoris cement plant, while DOP DOP189m will be spent on various activities to strengthen its business. Among the planned projects will be a waste heat generate system with a capacity of 7MW of electricity and improvements in the calcination sys... |
Cemex Colombia investigates alternative power sources17 June 2014, Published under Cement NewsCemex is interested in landfill biogas, wind and solar energy sources in Colombia and evaluates projects of US$50m (EUR36.9m) for the next five years, Colombian daily El Tiempo said last week. Cemex wants to guarantee 100 per cent of its power supply in the country, compared to 65 per cent now. The Mexican multinational currently operates three small hydroelectric stations in Colombia and a gas-fired plant with a capacity to produce 210GWh a year in Colombia's Junin, Bucaramanga and Ibague... |
UK: environment agency approves Cemex recycling plant13 June 2014, Published under Cement NewsThe UK Environment Agency (UKEA) has given the go-ahead for a solid fuel recyling unit to supply Cemex's Rugby cement plant in Warwickshire. Work is expected to start later this summer with recycling firm SITA UK set to run the plant, first proposed six years ago, on behalf of Cemex. Climafuel, as it the secondary fuel is known, is a solid waste-based fuel made from paper and cardboard, wood, carpet and textiles that cannot be recycled. The UKEA has said it would issue an environmental per... |
Cemex hikes prices by 7% in Mexico11 June 2014, Published under Cement NewsCemex is to increase the price of grey cement in Mexico by seven per cent, its second increase of 2014. The company hiked prices in its domestic market during the first quarter of this year. Together with the new increment, prices have risen by 14.5 per cent on a cumulative basis so far in 2014. The increases have been made in a bid to bring prices back up to where they were in 2012 before the market's depression, as well as to compensate the rising cost of input materials such petcoke... |