Cement News tagged under: Mexico

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Cemex invests US$320m in solar energy

19 November 2018, Published under Cement News

Cemex will invest US$320m in a solar farm in Zacatecas, Mexico. The solar power plant will have a capacity of 378MW. “At cement we bring different projects and we do not rule out starting other solar farms,” said Beatriz Padilla García, business development consultant of Cemex’s energy arm.  The facility is expected to start operations next year. Electricity generated by the plant will be sold to the private sector.

Cemex's gearing continues to decline to 89%

26 October 2018, Published under Cement News

During the first nine months of the year, Cemex cement shipments improved by 3.2 per cent to 52.69Mt, while ready-mixed concrete deliveries advanced by 3.7 per cent to 40.07Mm² and aggregates shipments by two per cent to 112.59Mt. The company’s turnover was seven per cent higher at US$10,933.1m, while EBITDA was a marginal 0.4 per cent ahead at US$1956m. The trading profit improved by one per cent to US$1330m, while the net interest charge dropped by 35.5 per cent to US$591m. The pretax prof...

Cemex Latin American Holdings sees weak volumes

26 October 2018, Published under Cement News

Cemex Latin American Holdings saw turnover for the first nine months decline by 8.6 per cent to US$848.5m and EBITDA fell by 22.3 per cent to US$187.7m, with the margin coming down from 26.1 to 22.1 per cent. The trading profit declined by 29.7 per cent to US$129.2m. After a 7.7 per cent reduction in financial expenses to US$42.9m and other items, the pretax profit came off by 26.1 per cent to US$96.2m. After tax and minorities, the net attributable profit was 33 per cent lower at US$53.3m. ...

GCC announces 11% sales increase for 9M18

24 October 2018, Published under Cement News

Mexico's Grupo Cementos de Chihuahua (GCC) has recorded an 11.1 per cent YoY increase in sales to US$677.4m for the first nine months of 2018. EBITDA surged 16.3 per cent to US$198.6m in the same period, while its EBIDTA margin reached 29.3 per cent. In the 3Q18 net sales advanced 10.6 per cent YoY to US$278.6m from US$251.9m. EBITDA was also up 9.2 per cent to US$83.6m, compared with US$76.6m of the year-ago period. "GCC's third quarter and nine-month results show continued success in i...

Carbon capture bioreactor starts at Fortaleza's Tula plant

24 October 2018, Published under Cement News

Mexico’s Universidad Autónoma Metropolitana (UAM) has developed a bioreactor which uses microalgae to capture flue gases from cement companies. The reactor was launched at Cementos Fortaleza’s cement plant in Tula in the country’s state of Hidalgo, where it will pilot the technology at plant level. In the process the exhaust gas from the kiln is passed through a reactor that contains water, nutrients and microalgae that retain carbon dioxide through photosynthesis and convert it to biomass...

Cementos Fortaleza begins construction of cement mill

28 September 2018, Published under Cement News

Mexico’s Cementos Fortaleza, part of Elementia, has begun the construction of a new 0.25Mta cement mill in Merida, Yucatan. The plant represents an investment of US$30m and will occupy a 7ha area, including space for a production area, two warehouses and a general services unit. The plant is expected to contribute to the growth of the construction sector in Yucatan, which recorded a 19 per cent expansion in the 3Q18.

Cemex would have investment grade until 2020

19 September 2018, Published under Cement News

The strategy to reduce the leverage level would allow Cemex to recover its investment grade in the first part of 2020, according to Citibanamex projections. "We expect the company to end 2018 and 2019 with a net debt/EBITDA ratio of 3.8 and 3.1 times, respectively. For the first half of 2020 the indicator would reach 3.0 times, excluding the sale of assets,” explains an analysis of the financial institution. However, the sale of assets would accelerate the process to obtain the investme...

Mexican cement prices forecast to rise in 2018

04 September 2018, Published under Cement News

Cement prices in Mexico are expected to continue their rise this year. Cemex increased its cement price at the start and in the middle of the year by Cemex, "We have announced two price increases so far this year. The increase executed in cement was four per cent in the first six months of the year, compared to the same period of the previous year. In line with what we mentioned at the beginning of the year, we have adjusted our pricing policy to compensate for the impact of inflation," acco...

Holcim Mexico to raise prices of bagged cement

31 August 2018, Published under Cement News

Holcim Mexico has announced that the prices of its bagged cement products will increase by seven per cent from 1 September. The hike has been attributed to the high volatility in the exchange rate as well as rising costs, with energy prices rising up to 22.9 per cent. The company has reportedly implemented mitigation measures, such as increasing process efficiencies, to reduce the impact of the effects on production and distribution expenses.

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.