Cement News tagged under: Cemex
Egypt: Cemex signs new partnership with United Nations World Food Program28 May 2014, Published under Cement NewsCemex in Egypt has given an additional donation to the United Nations World Food Program (WFP) to support its Food-for-Education program in Assiut governorate which will benefit more than 4000 people. Inaugurated at the governorate of Assiut today and under the auspices of the Governor of Assiut, Gen Ibrahim Hammad, this is the third partnership agreement Cemex signs with WFP. WFP will use this donation to provide daily nutritious snacks and monthly take-home rations during an entire year t... |
Cemex announces senior level changes22 May 2014, Published under Cement NewsCemex has announced the following changes to its senior level organisation, effective immediately, following the sudden death of former CEO Lorenzo Zambrano early last week. Cemex’s corporate staff functions, will now be organized in six executive vice-presidencies, reporting to the CEO, and led by the following executives: Jose Antonio Gonzalez has been named as Cemex’s new chief financial officer, replacing former CFO Fernando Gonzalez, who has been promoted to the chief executive role.... |
Cemex announces new chairman of the board and new CEO16 May 2014, Published under Cement NewsCemex announced today that its board of directors has unanimously appointed Rogelio Zambrano as chairman of the board of directors and Fernando A Gonzalez as CEO, effective immediately. The move follows the sudden death on Monday of Lorenzo Zambrano who had led the Monterrey, Mexico-based Cemex for almost three decades. Mr Rogelio Zambrano previously served as a member of the Board of Directors, and Fernando A Gonzalez previously held the position of Executive Vice President of Finance... |
Cemex CEO Zambrano dies13 May 2014, Published under Cement NewsCemex’s chief executive officer, Lorenzo Zambrano, who led the Mexican cement major for almost three decades, has died aged 70. A statement by the company said that Mr Zambrano passed away in the Spanish city of Madrid on 12 May 2014 of natural causes. Lorenzo H. Zambrano (1944-2014) A grandson of the company’s founder, Mr Zambrano joined Cemex in 1968 and worked his way through the ranks. During his career with Cemex he was involved in all operational aspects of the business an... |
Nicaragua: Cemex builds new grinding plant06 May 2014, Published under Cement NewsMexico's Cemex has begun construction on a new US$55m cement grinding plant in Nicaragua, the company said in a statement. The new grinding plant will boost cement capacity in Nicaragua by 440,000tpa and help to meet rising cement consumption. The country's cement has been boosted by the need for more housing and infrastructure development. Cemex said the new plant in Ciudad Sandino, on the outskirts of the capital Managua, will eventually include two grinding mills and is expected to be c... |
Cemex increases first-quarter volumes01 May 2014, Published under Cement NewsCemex' first-quarter turnover increased by 8.2 per cent to US$3590.7m, while the EBITDA improved by 2.7 per cent to US$535m. The trading profit rose by 11.7 per cent to US$267.7m. The net interest charge increased by 10.4 per cent to US$406.9m, to give a pre-tax loss 11.3 per cent higher at US$167.9m. The effective net debt was 0.9 per cent higher at US$16,325m, of which 88 per cent was in US dollar, 10 per cent in euro and two per cent in Mexican peso, with 66 per cent of the debt being ... |
Fitch: Spanish tax ruling negative for Cemex28 April 2014, Published under Cement NewsThe recent ruling by Spanish tax authorities to fine Cemex Espana EUR455m will slow the recovery of Cemex’s credit profile but will not result in a negative rating action to the 'B+' rating of Cemex or the 'BB-' of the company's bonds, according to Fitch Ratings. Cemex has announced it plans to appeal this fine, which was levied for alleged underpayment of taxes between 2006 and 2009. Cemex will not have to make payments, in whole or in part, during the appeal process. The timing of the res... |
EC to investigate Cemex and Holcim Spanish deal24 April 2014, Published under Cement NewsThe European Commission said on Wednesday it is investigating plans by Cemex and Holcim over a Spanish deal because of competition issues. "The Commission has concerns that the transaction may reduce competition in certain areas of Spain where the two companies' activities overlap," the EU executive said in a statement. Removing Holcim from the Spanish market “could facilitate coordination” between cement makers, the statement added. Collusion on pricing and customer allocation “could b... |
Cemex delivers 640 new homes as part of Colombian affordable housing initiative17 April 2014, Published under Cement NewsCemex announced Tuesday that it has completed 640 apartments in Colombia as part of a 3000-unit urbanisation project being undertaken by the company in collaboration with the country's government. The full project comprises 3,000 apartments divided into 96 towers of four stories each. The complexes will include recreational and green areas. The paving for the complex will be done with concrete also provided by Cemex. Colombian Housing Minister Luis Felipe Henao was present to inaugurate th... |
Cemex completes financing for wind farm project11 April 2014, Published under Cement NewsCemex has successfully completed the financing of Ventika, a project comprising the construction of two 126MW wind farms each, for a total nominal capacity of 252MW, to be located in General Bravo, Nuevo Leon, Mexico. The investment for the project is approximately US$650m, of which 75 per cent corresponds to debt and 25 per cent to equity. The debt financiers are the North American Development Bank, Banobras, Nafin, Bancomext and Santander. The equity partners are Fisterra Energy, a compa... |