Cement News tagged under: Central America

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Cemex included in the Fortune 2020 Change the World list

22 September 2020, Published under Cement News

Cemex SAB de CV   has been again included in the "Fortune 2020 Change the World" list, which highlights companies around the world that have generated a social impact through activities that are part of their business strategy. This is the third time that Cemex has received this distinction.   Fortune recognised Cemex's efforts in social impact business models. One of the   initiatives was the rapid deployment of solutions to meet the current challenges caused by the COVID- 19 pandem...

Cementos Fortaleza inaugurates Progreso plant

21 September 2020, Published under Cement News

Elementia-owned Cementos Fortaleza inaugurated its new US$25m cement plant in Progreso, Yucatan, Mexico. Yucatan state governor, Mauricio Vila Dosal, and Elementia CEO, Jaime Rocha Font attended the ceremony. The production facility has a capacity of 0.25Mta and incorporates state-of-the-art technology. It will complement the company’s current coverage of the Mexican market and is in line with its present expansion strategy. At the end of 2019, Elementia’s cement operations held a market...

Cemex Ventures to work with Carbon Clean on affordable carbon capture

18 September 2020, Published under Cement News

Cemex Ventures (Cemex group) has signed an agreement with Carbon Clean, a leader in low-cost modular carbon dioxide capture and separation technology, aimed at developing a carbon capture solution for the cement industry that lies below the line of US$30/t cost of CO 2 captured.   The ambitious target of making carbon capture technology accessible and more efficient would be an unprecedented achievement for the cement sector, opening a door of opportunities for further developments, claims ...

Caribbean Cement may resume exports soon

18 September 2020, Published under Cement News

Jamaica-based Caribbean Cement Co Ltd is awaiting the right conditions to resume cement exports. The Rockfort plant has excess capacity, despite sustained local demand for cement even during the pandemic. "Export is something we will be considering, but it will always come behind the local market, which we prioritise," said General Manager, Yago Castro. "The good thing is that we have some production capacity surplus, so, eventually, if the local market allows us, then we can allocate diff...

Puerto Rican cement sales up 24% in August

15 September 2020, Published under Cement News

Cement sales in Puerto Rico increased 24.4 per cent to 59,295t in August 2020 when compared with August 2019, according to data provided by Cemex Puerto Rico and Argos San Juan Corp to the Instituto de Estadisticas of Puerto Rico. Output fell 14.9 per cent to 38,551t in August when compared with the year-ago period, as compiled by the country’s Banco de Desarrollo Económico. In the year to date, 364,839t of cement was dispatched, down 6.1 per cent YoY. Cement production declined 11.6 per...

Cemex announces plans for a US$1bn bond issue

15 September 2020, Published under Cement News

Cemex has announced plans to issue US$1bn in senior notes to raise funds for general operations, including paying off debt, according to Reuters. The bonds will have a coupon of 5.2 per cent and mature in September 2030, the company said in a filing to the country’s stock exchange. The offer will close on 17 September. Fitch Ratings has assigned the secured notes a rating of ‘BB-’.

Cemex commences 'Operation Resilience'

11 September 2020, Published under Cement News

Cemex has outlined its 'Operation Resilience' programme, its business strategy from 2020-23 on a risk-adjusted basis. The company announced a need to focus on its core US and European markets as well as in metropolises where market demand is growing.   Fernando A González, Cemex's CEO, said the company will look to grow the profitability of the business through cost reductions and optimising the portfolio through divestments while redeploying its assets in new investments in its core busines...

Puerto Rican cement market expands 24% in July

26 August 2020, Published under Cement News

Cement demand in Puerto Rico advanced 23.8 per cent YoY to 60,546t (1.42m bags of 42.6kg) when compared with 49,033t (1.15m bags) in July 2019, according to data by the country’s statistics institute. Cement sales fell in 2019 and the first few months of 2020 before plummeting in March and April due to the COVID-19 pandemic, which stalled economic activity. In May demand started to recover with sales up 2.1 per cent YoY, a trend that continued the following month as sales rebounded by 42 pe...

Puerto Rican cement sales rise in July

19 August 2020, Published under Cement News

Puerto Rican cement sales increased 23.8 per cent YoY in July 2020, rising to 1.42m (42.5kg) bags from 1.15m bags in the corresponding period of 2019, according to Sin Comillas. Cement sales reportedly began to recover in May 2020 and surged 42 per cent YoY in June 2020. Cement production also advanced 31.3 per cent YoY to 1.32m bags in July 2020.

Central America’s resilience

17 August 2020, Published under Cement News

The markets of Honduras, Panama, Guatemala, Belize, El Salvador, Nicaragua and Costa Rica will have to show fresh resilience in the resultant aftermath of COVID-19. Dependent on tourism and overseas remittances, central government funds will have been hit hard and economic recovery may be a protracted struggle. While Guatemala is home to Central America’s largest cement production base, accounting for 5.8Mta of capacity, it has seen imports rise in recent years like elsewhere in th...