Cement News tagged under: Mexico

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Cemex says strong dollar may delay higher debt rating

10 November 2015, Published under Cement News

Mexican cement major Cemex said on Thursday that the strength of the US dollar could postpone the ability of the company to win back an investment grade debt rating, according to a report by Reuters. Cemex, burdened with a heavy debt load from its 2007 acquisition of Australia's Rinker, has been focusing on reducing debt in a bid to regain an investment-grade rating by 2018. "The question now is what to expect with respect to the strength of the dollar. If it stays like this, then getting ...

Cementos Chihuahua 3Q15 sales rise 23% YoY

28 October 2015, Published under Cement News

Mexico’s Cementos Chihuahua posted sales of MXN3.983bn (US$241.4m), up 23 per cent YoY, in the third quarter of 2015. The rise in turnover has been attributed to higher volumes and prices in Mexico and the USA. Sales in the US expanded by 24 per cent on the back of a three per cent advance in cement volumes in Minnesota, Texas and Colorado as the building and infrastructure sectors generated extra demand. This helped offset an 11 per cent fall in concrete sales. In Mexico, sales saw a ...

Cemex’s data centre recognised for energy efficiency

14 October 2015, Published under Cement News

Cemex announced today that its Data Center, located in Monterrey, Mexico, was awarded the Certified Energy Efficient Datacenter (CEEDA) Gold Certification – the highest recognition for energy efficiency strategy in the datacenter industry. Cemex is the first CEEDA Enterprise Gold Certified company in the Americas and only the fifth to merit this recognition in the world. The Cemex Data Center, located in Monterrey, Mexico Cemex earned this honour after a four-month assessment pr...

Mexican cement firms line up for airport contracts

22 September 2015, Published under Cement News

A group of 20 Mexican cement firms from AMCI, the association of independent concrete companies, are to invest MXN300m (EUR15.90m, US$18.03m) in the installation of a sector cluster to supply concrete for the construction of Mexico City's new international airport (NAICM). These firms will provide 48 per cent of the concrete required for the project and are currently negotiating with the Mexican construction industry chamber, CMIC, to obtain the association's support for the initiative....

Mexican cement prices increase

07 September 2015, Published under Cement News

Mexican newspaper Reforma reported that cement prices in the country were increased by about six per cent on 1 September. This is the third price hike in the year which suggests the earlier two have been absorbed by the market. At 1H15 stage, Holcim reported pricing to be up 5.3 per cent and Cemex noted six per cent growth with a forecast for mid/high single-digit growth. Mexico generated five per cent of proforma EBITDA for LafargeHolcim last year and we expect pricing to be up five p...

GCC sees higher volumes and bettter pricing

19 August 2015, Published under Cement News

Grupo Cementos de Chihuahua (GCC) reported a 19 per cent rise YoY in second-quarter net sales to MXP3051m (US$186m) on the back of higher volumes and a better pricing environment both in its Mexican and US markets. In the US, sales rose by 19.6 per cent in the quarter, totalling MXP2190.3m. This reflected the two per cent rise in cement sales driven by deliveries in Minnesota, Texas, Iowa and South Dakota. Ready-mix volumes remained at the previous year’s level as adverse weather conditio...

Cemex completes refinancing of its 2012 facilities agreement

04 August 2015, Published under Cement News

Cemex announced yesterday that it has fully repaid the total amount outstanding of approximately US$1.94bn under the facilities agreement dated 17 September 2012, as amended from time to time, with new funds from 17 financial institutions. These lenders have joined the credit agreement dated 29 September 2014, as amended (the Credit Agreement) under new tranches, allowing Cemex to increase the average life of its syndicated bank debt to approximately four years. Other financial institutions ...

Mexico: cement price up 8%

24 July 2015, Published under Cement News

In the year to date, the price of cement in Mexico has increased by just over eight per cent. This follows a price rise of nine per cent in 2014, said Juan Francisco Sanchez Kramer, investor relations director of Elementia. The price movement is on the back of an expected rise in demand due to private and public infrastructure projects. He added that the Mexican construction sector has large potential. Significant population growth, an expanding middle class and more than 120m people witho...

Cemex 2Q like-for-like net sales up 5%

23 July 2015, Published under Cement News

Cemex announced yesterday that consolidated net sales reached US$3.8bn during the second quarter of 2015, representing a decline of eight per cent YoY, or an increase of five per cent on a like-for-like basis for ongoing operations and adjusting for currency fluctuations. The increase was due to higher prices, in local currency terms, in most operations, as well as improved volumes in most products in Mexico, US and northern Europe and Asia regions. Operating EBITDA increased by one per ce...

Elementia raises MXN3.93bn with IPO, Mexico

17 July 2015, Published under Cement News

Mexican construction holding Elementia raised MXN3.93bn (US$250.15m) with its initial public offering (IPO) on 9 July 2015. The company set an initial price of MXN17 per share and obtained resources 15 per cent below the estimated target of MXN 5.20bn. The maximum share price reached MXN18.50 which resulted in a net sum of MXN 3.77bn obtained, which will be invested in Fortaleza, the company's cement division. The resources will cover the expansion of production capacity at its Tula ...