Cement News tagged under: Mexico

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CEMEX joins the UN CFO Taskforce to promote sustainability goals

21 December 2021, Published under Cement News

CEMEX SA de CV has joined the United Nations (UN) Global Company CFO Taskforce for the Sustainable Development Goals (SDG) as the company continues to align its financial strategy to its leadership in addressing climate change, the company announced. The CFO Taskforce for the SDGs has three main goals: to engage the global CFO community, to integrate the SDGs into strategy, financing, and investor relations, and to create a broad sustainable finance market. Members of the UN Global Compact...

Cruz Azul legal dispute risks sustained cement production

20 December 2021, Published under Cement News

Mexico-based cement producer Cruz Azul is currently facing a legal conflict in its plant in Tula, Hidalgo, that threatens to impact cement production. The plant currently employs 1300 workers and two groups are seeking control of the company. A day after the failed seizure of the facilities that the dissident group intended that resulted in a riot, the cooperative members chaired by Federico Sarabia, warned that due to the series of sabotage and actions taken against them by the group led ...

Fire at Cruz Azul’s Tula operations

29 November 2021, Published under Cement News

A fire broke out at Cruz Azul’s facility in Tula de Allende, Mexico, on Sunday morning. The flames were reportedly located at the company’s limestone conveyor belt. The fire was extinguished within two hours, but around 500m of the belt has been damaged. Operations are not expected to affected, while repair work will last between 15-20 days. 

How energy reforms could impact Mexico's cement industry

26 November 2021, Published under Cement News

This week, we will be taking a look at the proposed Mexican energy reforms and their potential impact on the cement industry. Mexico's president, Andres Manuel Lopez Obrador (AMLO), introduced the prospect of sweeping energy reforms earlier this year. The move would see state control of the energy market substantially increase. The state-owned Comision Federal de Electricidad (CFE) would generate 54 per of consumed electricity, while private companies would be able to produce the remainin...

Buzzi Unicem's 9M21 regional results improve in USA and Eastern Europe

09 November 2021, Published under Cement News

The sales volumes achieved by Buzzi Unicem in the third quarter of the current year showed a positive development in the United States and in Eastern Europe, which more than offsets the partial slowdown observed in Italy, mainly due to a high-base comparison, and a more evident contraction in Germany, also penalised by the unfavourable weather in July.  In Italy, in the first 9M21, sales volumes nonetheless stood well above the level reached last year, with prices that confirmed the pos...

Cemex closes US$3.5bn credit agreement

09 November 2021, Published under Cement News

Cemex has closed a new US$3.25bn syndicated credit agreement, with it being the first debt issued under its sustainability-linked financing framework. The proceeds have been used to fully repay its previous facilities agreement. The new credit agreement consists of US$1.5bn in five-year amortising term loans and a US$1.75bn five-year committed revolving credit facility, the company said in a statement. "This new credit agreement represents a major milestone in our path to investment gr...

Holcim and Cemex among founding members of First Movers Coalition

05 November 2021, Published under Cement News

Holcim and Cemex are among the companies that have joined the First Movers Coalition (FMC) as founding members at COP26 to drive green demand and carbon technologies to advance climate goals. The initiative aims to accelerate innovation and the development of early-stage decarbonisation technologies by leveraging their combined purchasing power. The coalition will work across the eight key hard-to-abate industries of cement, steel, aluminium, chemicals, shipping aviation and trucking, a...

Cemex reports net sales of US$3.8bn in 3Q21

29 October 2021, Published under Cement News

Cemex reports consolidated net sales of US$3.8bn in the 3Q21, a rise of eight per cent versus the 3Q20. EBITDA fell by one per cent to US$740m, due mainly to supply chain disruption and a sudden rise in energy and transportation costs. Consolidated cement and aggregate sales volume grew by one per cent while ready-mix grew by three per cent and urbanisation solutions grew by 16 per cent in the 3Q21.  Net debt for the company declined by US$248m versus the 2Q21 and the leverage ratio dr...

GCC reports 12% rise in 3Q21 net sales

27 October 2021, Published under Cement News

Mexico’s GCC has announced consolidated net sales of US$315.4m in the third quarter of 2021, up 12.2 per cent YoY on US$281.1m in the 3Q20. EBITDA also advanced 10.2 per cent to US$110.1m from US$99.9m, while its EBITDA margin saw a modest decline to 34.9 per cent from 35.5 per cent. “We are pleased with the results delivered despite supply chain and energy cost challenges. GCC is on track to meet our full-year guidance, assuming favorable weather conditions continue,” said Enrique Escal...

Cemex announces release of secured notes under the Facilities Agreement

12 October 2021, Published under Cement News

Cemex 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...