Cement News tagged under: Mexico
Cemex seeks to offset inflationary pressures with price hikes08 October 2021, Published under Cement NewsFernando A Gonzalez, CEO, opened yesterday's Cemex Day - Part II event with a look at some of the surprises of the last year. Not only has Cemex seen a 'V-shaped' recovery since the pandemic, it has also reported remarkable growth with EBITDA advancing in the 1H21 by 20.7 per cent YoY. However, inflation has become the main challenge going forward, particularly due to price rise for marine transportation and fuel, which the company has responded to with a robust pricing strategy and the post... |
SBTi validates Cemex's 2030 global emission targets06 October 2021, Published under Cement NewsThe Science Based Targets Initiative (SBTi) has validated Cemex’s 2030 global emissions targets. Cemex’s targets are in accordance with the Paris Agreement, citing global warming to well below 2˚C and pursuing efforts to limit warming to 1.5˚C. Cemex has a net greenhouse gas emissions (GHG) reduction target of 40 per cent by 2030 compared to its 1990 base line. Under scope 1, this means a reduction in direct GHG emissions of 20 per cent per tonne of cementitious materials by 2030 fr... |
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 launches its Sustainability-Linked Financing Framework08 September 2021, Published under Cement NewsCemex has launched its most comprehensive 'Sustainability-Linked Financing Framework' to date. The framework further aligns Cemex's sustainability commitments to its financing strategy, as part of its Future in Action programme. Cemex's guiding principles for new sustainability-linked financing instruments, including public bonds, private placements, loans, derivatives, working capital solutions and other financing instruments are set out in the framework. "Climate change is one of the... |
Cemex Ventures helps Carbon Clean raise US$8m for carbon capture projects04 August 2021, Published under Cement NewsCarbon Clean has raised US$8m from new investor Cemex Ventures and existing investors Equinor Ventures, ICOS Capital and WAVE Equity Partners. The capital raise extends Carbon Clean's successful US$2m Series B investment round , brings the total value of the round to US$30m. "We're delighted to have Cemex as an investor and its backing further confirms the growing value of our technology proposition, as well as expanding confidence of strategic investors," said Aniruddha Sharma, Carb... |
GCC reports 44% increase in 2Q net income28 July 2021, Published under Cement NewsGCC saw its consolidated net sales increased 18.1 per cent YoY to US$286.7m in the 2Q21 from US$242.8m in the 2Q20. EBITDA advanced 18.6 per cent YoY to US$97m in the 2Q21 from US$81.8m in the 2Q20. As a result, the EBITDA margin edged up from 33.7 per cent to 33.8 per cent over the same period. Net income increased 43.8 per cent to US$47.7m in the 2Q21 from US$33.2m in the year-ago period. In Mexico cement and ready-mix volumes increased 17.1 and 41.4 per cent, respectively. In the USA c... |
GCC reports strong 2Q21 results and prepares for expansion28 July 2021, Published under Cement NewsGCC reported a net sales increase of 18 per cent in the 2Q21 and a rise in EBITDA of 19 per cent. The company’s net financial expenses totalled US$10m during this accounting period. GCC reported cement volumes rising by 11 per cent in the 2Q21 compared to eight per cent in 2020. Concrete sales fell by 17 per cent compared to a six per cent rise in the 2Q20. Commenting on guidance for the remainder of 2021, Enrique Escalante, GCC’s CEO said: “ Starting in Mexico, we now expect GCC’s cem... |
Modern milling in Mexico06 July 2021, Published under Cement NewsEncouraged by healthy construction demand and promising growth potential, two regional cement manufacturers have decided to invest in cement grinding facilities in Yucatán, Mexico. Both Cementos Fortaleza and Holcim México have entrusted Gebr Pfeiffer to deliver these facilities and the required capacity to satisfy immediate demand. By Rodney Pradet, Gebr Pfeiffer Americas, USA. Figure 1: illustration of a typical Gebr Pfeiffer ready2grind plant For some, thinking of the Yucatán... |
Can Mexico’s fiesta continue?05 July 2021, Published under Cement NewsDespite initial concerns that Mexican cement demand would see a sharp contraction in 2020 due to the COVID-19 pandemic, domestic consumption held up better than expected through the year. The early signs for 2021 are encouraging but, with a rollercoaster of expectations ahead, Credit Suisse asks how long can Mexico’s fiesta last? By Vanessa Quiroga, Credit Suisse, Mexico. Going forward, the picture for Mexican cement demand, exports and utilisation levels is promising. The outlook ... |
Cemex's new growth phase02 July 2021, Published under Cement NewsCemex Day was held last week and looked at the company's investment and sustainability strategy going forwards. One of the most significant developments for the company is it reaching an investment-grade (IG) capital structure by the end of June. "We believe that we currently have the best market outlook in years, and that we are entering a period of sustainable growth. We can turn the page on what has been a lengthy chapter for Cemex and open a new book where we consolidate our recent a... |