Cement News tagged under: Cemex
Cemex Kosmos seeks to increase alternative fuels usage17 August 2012, Published under Cement NewsCemex’s Kosmos plant in Louisville, USA, is seeking permission to blend scrap plastic and wood to fuel its kiln, according to public officials. The company already has approval to burn scrap tyres for its cement production process. Cemex representatives said in a brief written statement that it was proposing to “safely replace up to 30 per cent of its kiln’s energy (and) heat demand” with waste-derived fuels as an alternative to fossil fuels including coal.” The statement said the process... |
Cemex signs 10-year outsourcing deal with IBM31 July 2012, Published under Cement NewsCemex announced it has signed a 10-year services deal with International Business Machines Corp (IBM) that will help it save close to US$1bn during the lifetime of the contract.??IBM will provide Cemex with business process and information technology services. The deal includes: finance and accounting, and human resource back-office services, as well as IT infrastructure, application development and maintenance services. "This agreement with IBM will enable Cemex to focus on its core bu... |
Cemex bolstered by improving US sales30 July 2012, Published under Cement NewsCemex has reported an improved profit line for the first-half of 2012, as sales from its US division move into long-awaited positive territory signalling that the debt-laden producer could be heading in the right direction despite declines in its two biggest markets of Mexico and Europe. The company's first half turnover declined by 2.1 per cent to US$7373.1m but EBITDA improved 9.4 per cent to US$1273.2m and the trading profit rose 40.7 per cent to US$611.9m. Meanwhile, in the second-qua... |
Cemex creditors agree to US$421m new notes swap25 July 2012, Published under Cement NewsCemex said on Tuesday that creditors had so far agreed to swap debt holdings for US$421m of new high-yield notes as part of its plan to refinance its debt burden. Reuters reports that the exchange offer, for up to US$500m of new 9.5 per cent notes due in 2018, is part of a plan Cemex aims to conclude in the third quarter of this year to gain breathing room ahead of the maturing of US$7.25bn in debt in 2014. The offer, which was launched early this month, ends on 20 August. The US$421m figu... |
US operations boost Cemex’s second quarter results23 July 2012, Published under Cement NewsCemex has reported its highest quarterly EBITDA since the third quarter of 2009 as a pick-up in US operations helps to offset declines in Europe and Mexico. Net sales reached US$3.9bn during the second quarter of 2012, an increase of 1% on a like-to-like basis for the ongoing operations and adjusting for currency fluctuations, versus 1Q11. Operating EBITDA increased by 11% during the quarter to US$702m versus the same period in 2011. On a like-to-like basis, operating EBITDA increased by ... |
Cemex seen reporting improved 2Q results20 July 2012, Published under Cement NewsCemex is expected show improvement in its second-quarter results as recovering US operations offset weakness in Europe, although a stronger US dollar is likely to limit sales in dollar terms and contribute to a net loss for the period. The company will probably report sales of US$4.03bn for the April-June quarter, according to the median estimate of six equities analysts consulted by Dow Jones, little changed from US$4.09bn in the year-ago period. EBITDA probably increased to US$669m ... |
Cemex to increase Mexican cement prices16 July 2012, Published under Cement NewsCemex announced that it is to increase cement prices in Mexico by an average of six per cent per bag as of today. The company said the hike, which was announced last week, is due to rising input costs. "In order to compensate for the constant increase in rates and prices of major inputs, Cemex announced its dealers an average price increase of MXP120 /t (US$9) of grey cement, equivalent to an increase of six pesos per bag, from next Monday 16 July." Increases in petcoke, fuel oil and ... |
Cemex: June '1206 July 2012, Published under Cement NewsAs a result of investing in excess of US$175m since 2005 in boosting the use of alternative kiln fuels, Cemex has currently achieved a 25 per cent substitution rate. The target is to increase this substitution rate to 35 per cent by 2015, when it comes to cement production. |
Standard & Poor's puts Cemex 'B-' rating on watch negative04 July 2012, Published under Cement NewsRatings agency Standard & Poor’s (S&P) may cut the credit rating on Cemex and its key operating subsidiaries following the cement major’s recently announced refinancing proposal. Cemex’s debt is rated B- by S&P. Last week Cemex announced a proposal to refinance US$7.3bn in bank debt, including a three-year extension on debt due in 2014 and an initial US$1bn payment to lenders by March 31, 2013. Sources of payment may include select asset sales. “If lenders approve the proposal, in our ... |
Cemex expects to launch debt exchange offer next week02 July 2012, Published under Cement NewsCemex expects to launch a debt exchange offer next week, a top company official told Reuters on Friday. The offer is part of a new refinancing deal it proposed to creditors in New York on Friday. A second presentation to its lenders in Madrid will take place today. Maher Al-Haffar, Cemex's vice president of corporate communications and investor relations, said the debt refinancing could conclude in the third quarter. |