Cement News tagged under: Mexico
Cemex Ventures to work with Carbon Clean on affordable carbon capture18 September 2020, Published under Cement NewsCemex 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 ... |
Cemex announces plans for a US$1bn bond issue15 September 2020, Published under Cement NewsCemex 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 NewsCemex 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... |
Cemex sales decline by 10% in 2Q2028 July 2020, Published under Cement NewsCemex reported significant disruption from COVID-19 in 2Q20. Sales declined by 10 per cent YoY and EBITDA fell by six per cent to US$554m. These decreases were attributed to lockdown measures. The decline in quarterly consolidated net sales was due to lower volumes for the company's three core products in almost all regions. The USA was the one exception with cement volumes growing six per cent. Net operating earnings before other expenses decreased 17 per cent to US$279m on a like-for-li... |
Cemex launches Vertua® low-carbon concrete24 July 2020, Published under Cement NewsCemex has launched Vertua® a low-carbon concrete range of products designed to offset residual CO 2 and provide a CarbonNeutral® concrete product. Vertuar achieves a 70 per cent reduction in embodied carbon emissions, claims Cemex. The range offers concrete solutions for foundations, floors and walls of buildings. "Vertua® is part of our ambition to deliver net-zero CO 2 concrete globally to all of our customers by 2050. It is also part of our effort to accomplish a 35 per cnet reduction... |
Cemex Ventures to recycle plastic to produce concrete and aggregates via Arqlite01 July 2020, Published under Cement NewsCemex Ventures is investing in US-based Arqlite SPC, a start-up that produces light recycled aggregates from plastic waste. The product benefits from a low CO 2 footprint and a greater durability for drainage, precast and lightweight concrete systems for non-structural use. Arqlite SPC began its research and development process in Argentina in 2016. It has developed an innovative technology that allows most of the plastic waste to be recycled instead of disposal at a landfill or polluting... |
Cemex cancels El Musel project due to COVID-1930 June 2020, Published under Cement NewsCemex is cancelling its terminal project that would see the company import 150,000tpa of cement via the Ingeniero Olano dock in El Musel, Gijón, Spain. In February 2019 Cemex applied for a concession at the Olano quay to unload cement to build two storage silos and a bagging plant, representing an investment of approximately EUR5m. Forecasts at the time expected 50,000t of cement to be imported in the first year to 150,000t from the sixth year. The concession was granted after 10 months. ... |
Cemex's climate strategy still on track26 June 2020, Published under Cement NewsCemex has announced that it will be continuing to move ahead with its climate action strategy, as part of its response to the COVID-19 pandemic. In February the company announced it had set a target for a 35 per cent reduction of its net specific CO 2 emissions per tonne of cement compared with its 1990 baseline. "Climate change is one of the biggest challenges of our time, and we believe that we can continue to address it as a fundamental component of our efforts to recover from the COVI... |
Elementia appoints new CEO24 June 2020, Published under Cement NewsMexico’s Elementia has appointed Jaime Rocha Font as its new CEO, with effect from 2 September 2020. Mr Rocha Font will take over the position from Fernando Ruiz Jacques, who has held the role since February 2015. Mr Rocha Font is the current head of Elementia’s cement division and thereby serves as the CEO of Cementos Fortaleza. Alongside this, he has been the president of the country’s National Cement Chamber since 2019. "I appreciate the work and dedication that Fernando Ruiz carrie... |
Cemex announces plans for US$1bn bond issue03 June 2020, Published under Cement NewsCemex has announced plans to issue US$1bn worth of bonds, with a 7.375 per cent coupon and a maturity date of June 2027. The issue is expected to be used to support ongoing business activities, including debt repayment. The bonds will be issued with an option to repurchase them four years prior to maturing and the offering period will close on 5 June. Elsewhere, Mexico's energy regulator approved new rates that electricity providers must pay the national power utility for transmission... |