Cement News tagged under: Cemex
Cemex to appeal fine, Mexico24 February 2012, Published under Cement NewsCemex CEO Lorenzo Zambrano has reiterated that the company will appeal a fine for allegedly blocking competitors from bringing cement into Mexico, the Wall Street Journal reports. Earlier this month, the Federal Competition Commission (CFC) fined Cemex MXP10.2m (US$796,000) following an investigation into a failed attempt by a competitor to import cement via a silo ship almost eight years ago. The newspaper quoted Zambrano as saying: “We’ve done nothing illegal.” He said Cemex used leg... |
Cemex fined for anti-competitive practices14 February 2012, Published under Cement NewsMexico’s competition watchdog has fined cement giant Cemex MXN10.2m (US$800,500) for anti-competitive practices in a 2005 dispute when the company blocked a shipment of cheap Russian-made cement from entering the country. The competitor tried to import 26,000t of lower-priced Russian cement into Mexico, but the “Mary Nour” vessel was held up for months at a Mexican port and eventually turned away in 2005 after being blocked by Cemex. The rival group brought a claim against Cemex in 20... |
Cemex 2011 turnover improves but net loss increases03 February 2012, Published under Cement NewsCemex’ turnover improved by 7.6% in 2011 to US$15,139.2m, but the EBITDA was just 0.8% ahead at US$2331.9m. The trading profit, however, advanced by 12.2% to US$960.2m, compared with a 26.5% fall a year ago. The net interest charge, which had risen by 22.9% in 2010, increased by a further 11.8% to US$1399.7m, and the cost of ‘other’ expenses also rose on the back of higher losses on financial instruments and exchange rates. This resulted in a pre-tax loss that was 37% higher at US$1,238.61m... |