Cement News tagged under: Mexico

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Mexican peso depreciation causes substantial hike in cement prices

21 November 2016, Published under Cement News

The depreciation of the Mexican peso against the US dollar has impacted negatively on the price cement and other building materials. In the year to date, cement prices have increased 14.8 per cent and between January 2015 and October 2016, prices have seen upward adjustments of 30 per cent, according to the National Institute of Statistics and Geography (Inegi). The increase in building material prices is due to their indexation in dollars and are quoted in international prices. The r...

Cemex

02 November 2016, Published under Cement News

During the first nine months of the year, Cemex' turnover eased by 1.9 per cent to US$10,467.4m, while EBITDA was 8.5 per cent ahead at US$2138.1m. The trading profit advanced by 15 per cent to US$1452.2m while the net interest charge declined by 6.3 per cent to US$888.9m. The pretax profit more than trebled from US$164.7m to US$689.5m. The tax charge declined from 128.4 per cent to 18.2 per cent, leading to a net attributable loss being turned into a US$533.6m profit. The net debt at ...

Cemex' gearing declines to a still high 164 per cent

28 October 2016, Published under Cement News

During the first nine months of the year, Cemex' turnover eased by 1.9 per cent to US$10,467.4m, while EBITDA was 8.5 per cent ahead at US$2138.1m. The trading profit advanced by 15 per cent to US$1452.2m while the net interest charge declined by 6.3 per cent to US$888.9m. The pretax profit more than trebled from US$164.7m to US$689.5m. The tax charge declined from 128.4 per cent to 18.2 per cent, leading to a net attributable loss being turned into a US$533.6m profit. The net debt at the en...

Mexico's GCC sees 32% hike in EBITDA in 3Q16

13 October 2016, Published under Cement News

Grupo Cementos Chihuahua reported a 32.3 per cent rise in EBITDA in the 3Q16, supported by an 11.5 per cent increase in US sales, a price hike due to the depreciation of the Mexican peso against the dollar. "Net sales (consolidated) in the third quarter of 2016 increased 10.2 per cent over the same period of 2015, totalling MXN4,287m. This increase is a result of higher volumes of cement in Mexico and concrete in the US," explains the firm in its report to the Mexican Stock Exchange (BMV)....

Cemex expects to complete Tepeaca expansion in 2018

13 October 2016, Published under Cement News

Cemex announced the expansion of its Tepeaca plant in Puebla, Mexico, to conclude in 2018. The plant will see the construction of a new kiln to take its production capacity to 7.6Mta. The project was started in December 2014 and represents an investment of US$642m, including fixed asset additions of US$442m incurred at the end of 2015. The expansion will generated 1500 jobs during construction and around 100 direct and 240 indirect jobs when the plant enters service.

Mexico: Cemex announces intention to sell its stake in GCC

03 October 2016, Published under Cement News

Cemex SAB de CV said on Friday that it is looking to sell the 23 per cent stake it directly owns in Mexican cement producer Grupo Cementos de Chihuahua SAB de CV through a secondary public offering. In its filing, Cemex disclosed that it had asked CNBV, Mexico's banking and securities regulator, to approve the planned transaction, under which the Mexican building materials company will offer the shares to domestic and foreign investors in a concurrent private placement. The sale would be...

Mexico: Elementia considers price rise to help fund investment plan

29 September 2016, Published under Cement News

Elementia is considering a potential rise in its cement price following the depreciation of the Mexican peso against the US dollar, according to the El Financiero newspaper. The price rise will help to maintain the viability of its US$250m investment programme that includes a capacity expansion at the company’s Hidalgo works as well as contributing to debt payments, of which a significant part are denominated in dollars.

Positive outlook for Mexican producers

15 September 2016, Published under Cement News

This week Banco Santander reported that it has given a positive outlook for two cement producers in Mexico, following the rise in cement prices in the country as production volumes look set to climb by 5.6 per cent in 2016 to 52.5Mt. This must be welcome news for Cemex that has been forced to dispose of assets in several countries to meet its debt requirements with the latest being the sale of the Odessa plant in the USA to Grupo Cementos Chihuahua (GCC). The Mexican market has remained ...

Mexico: Ventika wind park officially opened

13 September 2016, Published under Cement News

Mexican President Enrique Peña Nieto inaugurated the Ventika wind park in General Bravo, Nuevo León. The facility has a capacity of 252MW and is expected to generate 1mkWh annually. The project was developed by a consortium consisting of Acciona, the capital fund Blackstone, Cemex Energía and Fisterra Energy. Construction finished December 2015 and the park started operation last April. The head of state said the US$650m project would help the country to reach its clean energy targets ...

Banco Santander: positive outlook for Mexican cement companies

07 September 2016, Published under Cement News

Banco Santander analysts have upgraded their forecast on share prices of two key Mexican cement producers. The bank expects the company’s share price to rise 8.5 per cent in the next 12 months to MXN17.10/share. For Elementia, the share price would advance by 24.5 per cent in 2017 to MXN28/share. The bank said the share price increases were supported by a rise in cement prices by the companies. Cemex is expected to raise its prices by 18 per cent while Elementia would see a 25 per cent adv...