Cement News tagged under: Mexico
Cemex changes management structure16 January 2019, Published under Cement NewsCemex has announced a series of changes to its management structure which will come into force on 1 February 2019. Juan Romero Torres, current president of Cemex Mexico, has been appointed executive vice president of Global Commercial Development. This new role aims to capitalise on the progress that the company has achieved in its Customer Centricity strategy and provide it with a formal structure, according to a press release. As a result, Ricardo Naya Barba, current president of Cemex Col... |
China accounts for 15% of Central American cement imports07 January 2019, Published under Cement NewsIn the first half of 2018, Central America’s largest importing country was Nicaragua, which purchased cement from overseas sources to the value of US$28m, followed by Guatemala at US$18m. Smaller volumes were imported by El Salvador (US$12m), Honduras (US$7m), Panama (US$6m) and Costa Rica (US$5m), according to CentralAmericaData. YoY the volume of cement imports in the region advanced by two per cent from US$75.6m to US$77.1m in the 6M18 when compared with the year-ago period. Around 15... |
GCC commissions Rapid City plant expansion21 December 2018, Published under Cement NewsMexican cement producer Grupo Cementos de Chihuahua (GCC) has announced the expansion of its Rapid City, South Dakota cement plant became operational, adding 440,000tpa capacity to the existing plant. The expansion of the Dacotah cement plant began in 2016, with a total investment of around USD105m. The expansion increases the plant’s production capacity to 1.167Mta and is expected to reduce variable production costs. Earlier this year, GCC acquired the 0.3Mta Trident cement plant in Three... |
Cemex expected to increase cement price 12-13% in new year18 December 2018, Published under Cement NewsCemex will increase the price of cement between 12-13 per cent at the beginning of next year, according to the Mexican Association of Independent Concrete Companies (AMCI). "The Mexican Association of Independent Concrete Companies announced an increase in the price of concrete of 20 per cent as of January 2019; independent concrete producers have reported that Cemex will increase cement prices by approximately 12 per cent, "Citibanamex analysts said. However, they highlighted that althoug... |
Mexican ready-mix prices to rise 20%13 December 2018, Published under Cement NewsMexico's ready-mix concrete producers are set to raise prices by 20 per cent. The Mexican Association of Independent Concrete Producers (AMCI), representing 70 per cent of the production companies in Mexico, cited the rising cost of cement and aggregates, including sand and limestone as well as higher prices for diesel and electricity. The price rise will come into effect on 1 January 2019. "This increase... is due to the rise in 2018 of all our inputs," said Jorge Pérez, Cemex's Media Rel... |
Mexican cement industry optimistic about announced housing programmes30 November 2018, Published under Cement NewsThe Mexican cement industry has welcomed announcement of social housing programmes by the new government voted into office last July. "In Mexico there are 7 million families with the potential to enter into schemes of construction or improvement of housing. Meeting their needs can be a growth driver; This type of initiative has been very successful in Colombia and Peru,” said Mauricio Doehner, president of CANACEM, the national cement chamber. However, Mr Doehner’s optimism included a ca... |
Cemex begins share repurchase programme29 November 2018, Published under Cement NewsCemex has begun its share repurchase programme, approved at its ordinary shareholders’ meeting for up to US$500m. "We are pleased to initiate our share buyback programme, which is one of the capital allocation options we have to create value for our shareholders," said Fernando A González, CEO. The company repurchased 7m CPOs on 27 November. The total amount of the repurchase, including commissions and VAT, was MXN65.9m (US$3.2m). |
Higher fuel and power costs affect Mexican cement producers22 November 2018, Published under Cement NewsEBITDA margins of Cemex, Moctezuma, Cementos Chihuahua and Elementia have contracted by 0.5-2 percentage points in the 3Q18 as fuel and power costs in Mexico have risen. "At least half of the increase in costs was due to increases in energy, both electricity and energy, whose prices are dollarised," said Carlos García, infrastructure analyst at Signum Research. In the case of Cemex, the company’s overall EBITDA margin fell by 1.1 percentage points to 18.8 per cent while in Mexico, its ope... |
Cemex invests US$320m in solar energy19 November 2018, Published under Cement NewsCemex 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 NewsDuring 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... |