Cement News tagged under: Elementia

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Elementia to invest US$30m in Yucatán grinding unit

15 August 2018, Published under Cement News

Mexican cement producer Elementia will invest US$30m in a 0.25Mta grinding unit in Yucatán, reports CE Noticias Financiers. The project is in line with Fortaleza’s commercial strategy and part of the company’s previously-announced profitable growth strategy focussed on the countries where it currently operates – Mexico, USA and Costa Rica, according to a company statement. The new cement plant is scheduled to start operations at the end of 1H19, according to the company.

Timothy Kuebler becomes country manager of Giant

03 January 2018, Published under Cement News

Timothy Kuebler has joined Elementia as the country manager of Giant, reporting to the cement division. Mr Kuebler has more than 30 years of experience in the cement industry. His previous position was as senior vice president for Titan (cement and aggregates). Additionally, Mr Kuebler has worked for Lehigh Cement Company as vice president of sales and marketing in the USA and Canada and he has collaborated with Builders Concrete and Titan Florida Materials companies where he served as vi...

Elementia restructures debt with new seven-year loan

05 December 2017, Published under Cement News

Elementia, SAB de CV has announced that it obtained a loan from Citi Banamex for MXN925m (US$49.6m) over a seven-year term, with payments beginning in the first half of 2020, given its two-year grace period. The financial restructuring is part of its strategy to strengthen its balance sheet and maintain its profitable growth. The loan successfully concludes the company's commitment, as announced in 2016, of exchanging short-term for long-term debt during 2017. The proceeds will be used to...

Elementia sees 39% rise in 3Q EBITDA

26 October 2017, Published under Cement News

Mexico-based Elementia reported EBITDA of MXN1.296bn (US$67.9m) in 3Q17, an increase of 38.9 per cent YoY. The company attributes the rise in earnings to higher sales and prices in its cement division. The company posted third-quarter revenues of MXN6.555bn, up 40 per cent when compared with the July-September 2016 period. Net income reached MXN340m, swinging the building materials firm back into the black after a loss of MXN47m in 3Q16.

Fitch affirms Elementia's IDR, Outlook Stable

19 May 2017, Published under Cement News

Fitch Ratings has affirmed Mexico-based Elementia, Long-Term Foreign and Local Currency Issuer Default Ratings (IDRs) at 'BB+', as well as its long-term national scale rating at 'A+(mex)'. The Rating Outlook is Stable. "Elementia's ratings reflect its strong business profile characterised by geographic and product line diversification, leading market shares in copper and in several of its building systems products, which have high brand recognition. Other factors include a well-developed ...

Elementia invests US$250m in Mexican cement plant

24 April 2017, Published under Cement News

Elementia anounced it will invest US$250m in the expansion of its Tula cement plant in Hidalgo, Mexico. The project will see capacity at the works rise to 1.5Mta. The contract for the design, equipment supply, construction, installation and commissioning of the 3000tpd clinker plant was awarded to Fives FCB via its subsidiary Trituradora. The expansion is expected to be completed in mid-2017.

Mexico: Elementia 4Q16 and 12M16 results

23 February 2017, Published under Cement News

Elementia announced its financial and operating results for the 4Q16 and 12-month period ended 31 December 2016 with net sales increasing by 36 per cent in 4Q16 and 12 per cent in 12M16, reaching US$5.45bn and US$19.09bn, respectively. Company EBITDA rose 48 per cent in 4Q16 and by 20 per cent in 12M16, reaching US$986m and US$3.59bn, respectively. During the 4Q16, the Mexico cement division increased EBITDA by 29 per cent. To date investments in the expansion of the cement division’s...

USA: Elementia acquires 55% stake in Giant Cement

02 December 2016, Published under Cement News

Elementia, SAB de CV has announced that its Board of Directors has given its final approval for the completion of the acquisition of a 55 per cent stake and full control of Giant Cement Holding Inc, USA. Elementia will acquire the controlling stake from Cementos Portland Valderrivas SA for US$220m. Elementia used proceeds obtain from he capital increase through a Rights Offering to complete the US$220m deal, resulting in an implied equity value of US$400m. The company then granted Giant C...

Portland Valderrivas board approves Giant 55% sale to Elementia

31 October 2016, Published under Cement News

The board of Spain’s Cementos Portland Valderrivas has formally approved the sale of a 55 per cent stake in its US unit Giant Cement Holding to Mexico’s Elementia, owned by Carlos Slim, who owns a 35.6 per cent holding in the Mexican company via his Grupo Carso. The deal includes a US$220 capital increase in Giant with subscription rights granted to Elementia, who will extend a loan of US$305m to the US unit. Giant’s parent company, FCC, has also given the go-ahead. Slim’s holding com...

USA: Elementia intends to buy 55% of Giant Cement

14 October 2016, Published under Cement News

Elementia of Mexico, 49 per cent owned by billionaire Carlos Slim, said it had signed a letter of intent to purchase 55 per cent of Giant Cement Holdings Inc, a wholly-owned unit of Cementos Portland Valderrivas of Spain. Currently, Giant has an accumulated debt of approximately EUR437m in a securitised bond issue, says dirigentesdigital. At the same time, Cementos Portland has signed a loan of EUR553m to repay part of its debt, amounting to EUR1114m according to the Spanish source. Ceme...