Cement News tagged under: Central America and the Caribbean
Cemex announces release of secured notes under the Facilities Agreement12 October 2021, Published under Cement NewsCemex has announced that the collateral that guarantees Cemex's debt under its main bank agreement and its senior secured notes have been released. Under Cemex's Facilities Agreement of July 2017, the release of collateral was automatically triggered after Cemex previously reported two consecutive quarters with a consolidated leverage ratio of 3.75x or less. “We are very pleased with this momentous milestone which is a culmination of the substantial strengthening of our capital structu... |
Cemex to collaborate with Volvo on electromobility solutions10 September 2021, Published under Cement NewsCemex will work with Volvo Construction Equipment and Volvo Trucks to develop a zero-emissions fleet with electromobility solutions that aligns with Cemex Future in Action programme. The two companies have reached an MoU to collaborate globally to improve productivity and the CO 2 footprint of electromobility solutions and mobile construction equipment trucks, productivity solutions and uptime services. "Working together with a leading global company in electromobility construction ... |
Cemex sets aggressive new 2030 carbon emission targets25 June 2021, Published under Cement NewsCemex has set a more aggressive carbon reduction target of below 475kg of CO 2 per tonne of clinker produced, approximately a 40 per cent reduction in CO 2 emissions by 2030. The new target is below the two degree global warming scenario of the Science Based Targets Initiative (SBTi). Cemex is also planning to set a new target of 520kg of CO 2 /t of clinker produced by 2025, equivalent of a 35 per cent emission reduction. The company is also reducing CO 2 emissions from its concrete bu... |
LafargeHolcim to settle US lawsuit from Cuban operations28 May 2021, Published under Cement NewsLafargeHolcim Ltd has agreed in principle to settle a lawsuit brought by a group of 25 US nationals who claimed the company used their Cuban property to conduct business, according to court documents. The lawsuit, filed in September in the US District Court for the Southern District of Florida, is one of dozens of cases brought under a long-dormant law that allows Americans to pursue legal action against companies doing business in Cuba on property confiscated by the regime of Fid... |
Cemex reports 10% rise in 4Q20 cement volumes12 February 2021, Published under Cement NewsCemex S AB de CV reports that in the 4Q20 EBITDA grew by double-digit growth YoY. Consolidated net sales increased by nine per cent to US$3.537bn, an increase of one per cent for the full year of 2020 when compared with 2019. Operating EBITDA rose 19 per cent in the 4Q20 to US$644m. Operating EBITDA margin rose by 1.2 percentage points to 18.2 per cent. Foreign debt declined by US$1027m in 2020. "2020 was one of the most challenging years we have faced but itv was also a remarkable ye... |
Record production at Caribbean Cement in 202011 January 2021, Published under Cement NewsCaribbean Cement Company (TCL/Cemex group) says it reached a new record in 2020 by manufacturing more than 940,000t of cement in response to market demand in Jamaica. "The market responded opposite to what might have been expected given the pandemic. Instead of slowing down, construction grew, and we kept in step with our customers by meeting their demand consistently. We will continue to ramp up production as the market grows," said Yago Castro, general manager of Caribbean Cement Ltd ... |
Two men badly injured at Arawak Cement30 December 2020, Published under Cement NewsTwo men sustained burns during an industrial accident at the Arawak Cement plant in St Lucy, Barbados, early Sunday morning. Plant attendant Brian Moore reportedly has burns about 90 per cent of his body and is listed as gravely/critically injured. Process supervisor Vincent Ellis remains at the Queen Elizabeth Hospital (QEH) with burns to both hands and feet. Both men, along with plant attendant Erroll Lewis were overseeing a cement mixing process, during which a blockage was observed. ... |
Argos reports 11% rise in revenues in 201923 March 2020, Published under Cement NewsOn a consolidated basis, Colombia-based cement producer Argos reported an 11.4 per cent increase in revenues and a 14.3 per cent increase in EBITDA during 2019. The year ended satisfactorily with advances of 11.4 per cent in revenues and 14.3 per cent in EBITDA. Operations in the USA saw significant volume growth and prices in Colombia and the Caribbean recovered. The Central America region maintains conjunctural difficulties in Honduras and Panama, which was offset to some extent by the ... |
Cementos Argos 1Q revenues impacted by Colombia12 May 2017, Published under Cement NewsCementos Argos posted a 6.1 per cent decline in consolidated revenues for the first three months of the year, citing a challenging first quarter affected mainly by Colombia. Over 70 per cent of revenues and EBITDA came from operations outside of Colombia. The US continues to be its main market in terms of revenues, cement and ready-mix volumes. For the first time, the Caribbean and Central America group region was the leading contributor to EBITDA accounting for 43 per cent. Cement vo... |
Honduras government freezes cement price for further 30 days11 February 2014, Published under Cement NewsFollowing an agreement with local cement companies, the Honduran government resolved to continue freezing cement prices at HNL160 (US$8.07)/bag. On 11 January, the country’s executive power decided to maintain cement prices for a month, due to the strong hikes applied by cement companies and DIY shops. “We are going to extend the price of cement at HNL160 for a further month and during this period of 30 days we will have a dialogue with Argos, to work out its price structure,” said Al... |