Cement News tagged under: Central America

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Cemex's climate strategy still on track

26 June 2020, Published under Cement News

Cemex has announced that it will be continuing to move ahead with its climate action strategy, as part of its response to the COVID-19 pandemic. In February the company announced it had set a target for a 35 per cent reduction of its net specific CO 2 emissions per tonne of cement compared with its 1990 baseline. "Climate change is one of the biggest challenges of our time, and we believe that we can continue to address it as a fundamental component of our efforts to recover from the COVI...

Elementia appoints new CEO

24 June 2020, Published under Cement News

Mexico’s Elementia has appointed Jaime Rocha Font as its new CEO, with effect from 2 September 2020. Mr Rocha Font will take over the position from Fernando Ruiz Jacques, who has held the role since February 2015. Mr Rocha Font is the current head of Elementia’s cement division and thereby serves as the CEO of Cementos Fortaleza. Alongside this, he has been the president of the country’s National Cement Chamber since 2019. "I appreciate the work and dedication that Fernando Ruiz carrie...

Cement sales in Puerto Rico up 2% in May

10 June 2020, Published under Cement News

Puerto Rican cement sales increased 2.1 per cent YoY to 52,824t – the first increase since October and the highest level in seven months, according to the country’s Statistics Institute. In May 2019 sales stood at 51,546t while for the full year, they fell 5.6 per cent YoY to 575,100t. Cement sales were significantly impacted by COVID-19 in March and April, seeing declines of 55.1 and 60.6 per cent, respectively. Domestic cement output advanced 2.5 per cent YoY to 43,878t in May 2020 – th...

Cemex announces plans for US$1bn bond issue

03 June 2020, Published under Cement News

Cemex has announced plans to issue US$1bn worth of bonds, with a 7.375 per cent coupon and a maturity date of June 2027. The issue is expected to be used to support ongoing business activities, including debt repayment. The bonds will be issued with an option to repurchase them four years prior to maturing and the offering period will close on 5 June.  Elsewhere, Mexico's energy regulator approved new rates that electricity providers must pay the national power utility for transmission...

Caribbean Cement forecasts 10-20% sales decline in 2020

03 June 2020, Published under Cement News

Jamaica-based Caribbean Cement expects its annual sales to drop 10-20 per cent this year, due to the effects of the COVID-19 pandemic. "The forecast we are seeing is a 10 to 20 per cent decline in annual terms," said Yago Castro, general manager. "We are factoring the first quarter which was normal, but the second quarter we saw a drop by one-third, and the third quarter we are also expecting a decline when compared with last year," he said. Sales were down 35 per cent YoY in April and...

Dominican cement demand up 7% in 2019

28 May 2020, Published under Cement News

The Dominican cement market expanded 7.2 per cent YoY to 4.7Mt in 2019. Consumption in 2018 reached 4.3Mta, according to the country’s cement association, Adocem. Output by Dominican cement producers advanced four per cent YoY to 5,644.176t, representing a capacity utilisation rate of 81.5 per cent. “In the current coronavirus pandemic (COVID-19) one of the main challenges to face lies in the need to establish a medium-term construction development horizon, based on the multiplier impact...

Cemex announces organisational changes

22 May 2020, Published under Cement News

Cemex has made several immediate appointment changes and changes at senior positions in the company. Jose Antonio Gonzalez, Cemex's current executive vice president of finance and administration, has been appointed executive vice president of strategic planning and business development.  Maher Al-Haffar, current vice president of investor relations, corporate communications and public affairs, has been appointed executive vice president of finance and administration. Maurice Boehner, cur...

Puerto Rican cement sales decline 61% in April

18 May 2020, Published under Cement News

Sales of cement in Puerto Rico fell 55.1 and 60.6 per cent in March and April 2020, respectively, according to the country’s Instituto de Estadísticas. In March 2020 526,500 bags of 94lb, or 22,496t were sold while in April the offtake reached 451,300 bags or 19,283t. The drop in sales was attributed to the lockdown and the production stop due to the coronavirus. Cement production fell 59.2 per cent to 493,300 bags (21,077t) in March and 49.5 per cent to 377,200 bags (16,117t) in April.

Argos records revenues of COP2.2trn in 1Q20

06 May 2020, Published under Cement News

In the first three months of 2020, Argos (Grupo Argos) reported revenues of COP2.2trn (US$5.6bn), a figure that remains stable when compared to 2019. EBITDA, including the effect of IFRS16, was COP343bn, decreasing one per cent when compared to the same quarter of the previous year. During the period, the total volume of cement dispatched reached 3.6Mt, down 6.1 per cent, and ready-mix volumes fell 10.7 per cent to 2.1Mm 3 . "In general, the results were impacted mainly because of the clo...

Cementos Argos

01 April 2019, Published under Cement News

In 2018 Cementos Argos shipped 16Mt of cement and 10.3Mm 3 of concrete. This generated net income of COP291bn (US$93m) and EBITDA of COP1.54trn. The company ended the year with a net-to-debt EBITDA index of 3.7 times, compared to an index of 4.6 at the end of 2017. According to the company, a bond issue totalling COP500bn with an average life of 9.5 years, plus a new syndicated loan totalling US$600m “significantly improved the debt profile”.  In the US 5.7Mt of cement and 7Mm 3 of conc...